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Update your Will to ensure it can withstand the secrecy of the digital age

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More and more people are going online, in fact, it is now thought that 70% of all 65-74 year olds in the UK are online.

Many large companies refuse to give a deceased person’s family information regarding the deceased and their activities online. However, progress is being made by a few of the online giants such as Google. Facebook, however, refused to give an American family their 15 year old son’s password as it was against their privacy policy. The family tried to fight this decision in court but found there wasn’t any legislation in place to help their cause. They could not find out why their son committed suicide.

The internet is not yet prepared for dealing with death and it does not help that very few people are considering this during their lifetime.

As more and more people start to realise that they need to plan for their death in respect of their digital assets, companies such as Cirrus Legacy are filling the gap in the marketplace. Cirrus Legacy allows their clients to take control of their digital life. The client can decide what happens to their assets and passwords in just a few clicks; things can be passed to loved ones, given to someone to take care of or even made to disappear.

Cloud hosting firm RackSpace commissioned a study in association with the centre for Creative and Social Technology at London's Goldsmiths University and found that Britons are storing £2.3bn worth of music, film, applications and subscriptions online. The study also found that only 1 in 10 people have already put their passwords in their wills so that relatives can access their digital assets.

These are scary statistics. With £2.3bn worth of assets online surely more than 10% of us need to be prepared and get our wills updated if only to make things easier for our loved ones once we are gone.

If you would like further information on any of the above or assistance with private client matters please contact the Private Client Team on 0113 246 0622.
 

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