In the digital world we live in, the majority of our time is spent online, so we build up a substantial base of assets that exist online or in the “cloud”. These assets include:
- Email accounts
- Cloud bases storage systems like DropBox, Google Drive, OneDrive and Apple iCloud
- Cryptocurrency wallets
- Social media accounts (like FaceBook, Instagram, LinkedIn, TikTok… and the stupid SnapChat
- Streaming services like Netflix, Prime Video, Paramount Plus and Disney
- Domain names, websites and blogs… and even gaming accounts
- Photos/videos and music libraries
- other intellectual property
The problem with each of these things is that there is no single way to transfer or deal with them on your death, in your Will or otherwise.
The Terms of Services of social media accounts don’t usually allow transfer of ownership but often do have an in memoriam type mode that can be put in place through the platforms on someone’s death but they often need to be pre-arranged by the deceased before their death (for example setting a ‘legacy contact’ or equivalent).
Many, such as the streaming services, operate on a personal license basis and thus do not allow transfers of accounts, so more of a practical matter intaking control of them (login and password) rather than transferring ownership in a legal sense.
Another problem is that many of the organisations that own and control these platforms are in different countries that may not recognise an Australian grant of probate.
Wishes in relation to digital assets can be expressed in a Will in much the same way as other tangible assets like houses and cars, but consideration needs to be given to the relevant terms of use and licensing agreements and the practical matters involved. Often the wish is to have accounts closed or deleted.
One major practical step to take control of these digital assets that executors and administrators should consider is not cancelling the deceased persons mobile phone as this is often used to get reset codes and other authentications.
FURTHER INFORMATION
For further information in relation to Wills and estate planning, contact McKillop Legal on (02) 9521 2455 or email help@mckilloplegal.com.au.
