Digital Assets and Probate: Managing Online Accounts After Death

The digital age has brought myriad conveniences, transforming how we communicate, bank, shop, and store memories. However, with these conveniences come new challenges, especially when dealing with a deceased person’s digital assets. Our Szabo & Associates probate lawyers in Sydney and New South Wales understand the intricacies of managing online accounts after death and can help you understand what digital assets are, the legal considerations surrounding them, and practical steps for managing these assets during the probate process.

Understanding Digital Assets

Digital assets encompass a wide range of online accounts and electronic records. These can include:

• Email accounts
• Social media
• Financial accounts
• Digital media
• E-commerce
• Websites and blogs

The Evolving Landscape of Digital Assets and Probate

Traditional probate focuses on distributing physical assets like property and belongings; however, digital assets present a unique challenge. Many online platforms have terms and conditions regarding account access and data management upon a user’s death. Australian law is still evolving in this area, so clear legal precedent is limited.

Here are some important considerations:

• Ownership vs. access: You might “own” the content you create online, such as photos and videos, but the platform owns the underlying infrastructure. This distinction can impact how your digital assets are handled.

• Inheriting digital assets: Unlike physical assets, digital assets cannot be directly transferred through a will. However, you can provide instructions on how you would like your digital assets managed after your death.

• Account termination vs. memorialisation: Some platforms allow for account termination upon death, while others offer memorialisation options, which preserve the profile but restrict access.

Planning for Your Digital Legacy in Sydney

Taking the following proactive steps can ensure your digital assets are managed according to your wishes:

• Inventory your digital assets: Create a list of your online accounts, usernames, passwords, and other relevant information. Consider using a secure password management tool.

• Choose a digital executor: Appoint a trusted individual who is comfortable managing your digital affairs after death. Include their contact information in your list of digital assets.

• Update your online accounts: Many platforms offer options for designating a legacy contact or specifying post-mortem account management preferences. Explore these options and update your settings accordingly.

Crafting a Will with Digital Assets in Mind

While a will cannot directly transfer digital assets, it can still be a valuable tool in your digital legacy plan:

• Provide instructions: In your will, you can clearly state your wishes regarding managing your digital assets. Specify whether you would like accounts terminated, memorialised, or transferred.

• Location of digital asset inventory: In your will, reference the location of your digital asset inventory, including passwords and access information. This ensures your executor knows where to find this crucial information.

Australian privacy laws, such as the Privacy Act 1988 (Cth), grant individuals control over their personal information. This can impact how online platforms handle user data after death.

Seeking Legal Guidance for Digital Asset Management

The legalities surrounding digital assets and probate can be complex. Consulting with our qualified probate lawyers in Sydney can provide valuable peace of mind:

• Understanding your options: We can explain the current legal landscape and advise you on the best strategies for managing your digital assets in specific circumstances.

• Drafting a will: We can help you draft a will that effectively addresses your digital legacy alongside your traditional assets.

• Navigating platform policies: We are familiar with the terms and conditions of various online platforms and can guide you in setting appropriate post-mortem management preferences for your accounts.

Take Control of Your Digital Legacy

By planning and taking proactive steps, you can ensure your digital assets are managed according to your wishes after your passing. This protects your online information and provides clarity and peace of mind for your loved ones during a difficult time.

For expert legal guidance on digital assets and probate in Sydney, NSW, contact our team at Szabo & Associates today. We are here to help you navigate the complexities of the digital world and ensure your online legacy is handled with care.