Digital Assets - How To Protect Them

Assets are no longer just physical items you can pick up and move.

As our lives become increasingly digital, it’s important to consider what online assets hold value—whether monetary or sentimental—and whether we truly own these assets or simply hold a licence to use them.

What are Digital Assets?

There is currently no legal definition of digital assets in the UK. However, the country is in a transitional phase: digital assets are increasingly being recognised as a form of personal property, even if they are not yet clearly defined by law.

In September 2024, the UK government introduced the Property (Digital Assets etc) Bill in Parliament. This draft law would confirm that digital assets—including cryptocurrencies, NFTs, and carbon credits—can be recognised as property under English law. Since then, the bill is currently under consideration in the House of Commons awaiting further debate and potential legislation.

Digital assets are intangible, meaning they cannot be physically possessed. Examples include:

• Social media accounts

• Websites and domain names

• Online marketplaces (e.g. eBay, Amazon accounts)

• Payment platforms (e.g. PayPal)

• Cloud storage

• Virtual currencies and gaming assets

Why does this matter?

Would you want your family to access your social media accounts or emails after your death? Should they be deleted, memorialised, or passed to someone specific? These are important questions to address in your Will.

Take Action

Speak to our Wills & Probate Team today to ensure your digital assets are properly managed in the event of death or loss of capacity. We can help you:

• Understand whether you own the asset or simply hold a licence

• Review relevant terms and conditions

• Explore the options available to protect your digital legacy

• Ensure your wishes are clearly documented and honoured

Newcastle 01782 987551

Stafford 01785 252377

Alsager 01270 446260