What Happens to Your Facebook Account When You Die?

(And Other Questions You Never Thought You'd Need to Ask). 

When most people think about making a Will, they think about their house, their savings and perhaps that treasured collection of ornaments that nobody else in the family seems to appreciate. 

What they don't often think about is what happens to their Facebook account, email inbox, online shopping accounts, cryptocurrency, cloud storage or the thousands of photographs stored on their phone. 

Welcome to the world of digital assets. 

It's Not Just Money Anymore 

Before, estate planning was relatively straightforward. You could point to your possessions and say, "That belongs to me." Today, many of our most valuable assets don't sit in our homes at all, they sit somewhere in "the cloud". 

Digital assets can include: 

• Social media accounts 

• Email accounts 

• Online banking 

• Cryptocurrency 

• Online investment platforms 

• Loyalty points and reward schemes 

• Digital photographs and videos 

• Streaming subscriptions 

• Domain names and websites 

• Online businesses and marketplaces 

Executors frequently find themselves on what can only be described as a digital treasure hunt, armed with little more than a laptop and a strong sense of optimism. 

The Family Photos Nobody Can Access 

Whilst we often focus on the financial value of digital assets, some of the most important assets have no monetary value at all. Thousands of family photographs may be stored solely in cloud storage. Messages, videos, family history records and personal documents may exist only online. 

Without planning ahead, these memories can become inaccessible, lost or deleted. 

Nobody wants their family's digital history to disappear simply because nobody knew the password. 

Cryptocurrency: The Modern-Day Treasure Chest 

Cryptocurrency presents a particularly interesting challenge. Unlike a bank account, there is often no customer service department that can reset a password. If access details, recovery phrases or digital keys are lost, the asset may be lost forever. That's a sobering thought when those forgotten bits of code could be worth hundreds, thousands or even tens of thousands of pounds. 

Can I Leave My Passwords in My Will? 

A Will becomes a public document once Probate has been granted, which means it is rarely the best place for sensitive login information. Instead, it is sensible to: 

• Keep an up-to-date record of digital assets 

• Store passwords securely 

• Let trusted individuals know where information is kept 

• Consider using legacy contact features offered by some online platforms 

• Review your digital assets regularly 

Think of it as creating a map rather than leaving the treasure itself. 

The Digital Spring Clean 

Many people are surprised when they sit down and try to list all of their online accounts. A useful exercise is to ask yourself: 

• How many email accounts do I have? 

• How many social media accounts do I still use? 

• Do I have online investments? 

• Do I have any cryptocurrency? 

• Where are my photographs stored? 

• What subscriptions am I paying for? 

If the answer is "I'm not entirely sure", now might be a good time for a digital spring clean. You may be surprised by what you find lurking in the depths of your inbox. 

Don't Forget Your Digital Legacy