The Law Society’s Library provides information and details of precedents relating to digital assets and wills.

The Law Society Library maintains an database of enquiries called Common Queries. These include results from research to find forms, precedents, rules, regulations and guidance. These records can be freely accessed via the library catalogue Library Knowledge Base.

According to Parkers Will Precedents. 8th ed. (2016), p.138, the phrase ‘digital assets’ is broadly understood to mean assets stored in a digital or online form. This could mean digital information, such as that added to a social media profile, or financial assets such as a Paypal account balance or Bitcoin. How these assets are dealt with is something that the private client practitioner will need to consider when advising clients.

A 2016 article by Gary Rycroft Protecting your online assets suggests that making both a will and a ‘digital directory’ will make it easier for executors and beneficiaries to deal with digital assets after death.

For more information see:

Dew and Shannon, Parkers Will Precedents. 8th ed. (2016), chapter 15

Encyclopaedia of Forms and Precedents, Wills and Administration, vol. 42(1), (2016 reissue), paragraph 19

Rycroft, Protecting Your Online Assets(2016). Available at: http://www.lawsociety.org.uk/news/blog/protecting-your-online-assets

Precedents

Digital assets log

Parkers Will Precedents. 8th ed. (2016)

Precedent 15.7: List of digital assets

Memorandum of digital information

Parkers Will Precedents. 8th ed. (2016)

Precedent 15.8: Memorandum of wishes for digital assets

Williams on Wills. 10th ed. (2014)

Form B2.18: Memorandum of digital information

Gifts

Parkers Will Precedents. 8th ed. (2016)

Precedent 15.1: Gift of balance in online account

Precedent 15.2: Gift of domain name

Precedent 15.3: Gift of contents of computers

Precedent 15.4: Gift of digital assets by reference to list,

Precedent 15.5: Gift of all digital assets to specified beneficiary

Precedent 15.6: Gift of all digital assets to specified beneficiary with non-binding request to deal with in accordance with memorandum of wishes.

For further help and enquiries please contact the Law Society Library on 020 7320 5946 or e-mail us at library@lawsociety.org.uk

This FAQ is compiled by the Law Society Library. Comments relating to the questions should be sent to library@lawsociety.org.uk.

While every effort has been made to ensure the accuracy of the information in this article, it does not constitute legal advice and cannot be relied upon as such. The Law Society does not accept any responsibility for liabilities arising as a result of reliance upon the information given.