Description
Book SynopsisNinety-three per cent of people who have made a will in the UK have not included any provision for their digital assets when they die. It is therefore vital that all practitioners involved in drafting wills and estate planning discuss with their clients what will happen to their digital estate on their death. This book explains the practical and legal aspects of planning for and administering a digital estate: * what constitutes a digital asset; * digital assets and the law; * how to consider digital assets when drafting wills; * dealing with digital assets after death; * the digitisation of wills and will signing; and * financial abuse and digital assets. The book provides guidance and precedents for dealing with digital assets when drafting wills and also covers issues such as the risks for solicitors, data security, access rights and valuing digital assets. A template for a digital assets inventory is also included.
Table of Contents1. What are digital assets? 1.1 Introduction; 1.2 Media; 1.3 Written; 1.4 Cloud storage; 1.5 Social; 1.6 Design; 1.7 Financial; 1.8 Non-digital assets; 2. Issues to consider when drafting wills; 2.1 Introduction; 2.2 Training to deal with digital assets; 2.3 Insurance; 2.4 Initial enquiry and terms of engagement; 2.5 Terminology; 2.6 Digital asset inventory; 2.7 Taking instructions; 2.8 Choice of executor; 2.9 Specific drafting issues; 2.10 Precedents; 2.11 Dealing with assets outside the will; 3. Dealing with digital assets post death; 3.1 Introduction; 3.2 The role and duties of personal representatives; 3.3 Deletion or retention - what should personal representatives do?; 3.4 Ascertaining digital assets; 3.5 Digital assets that are not part of the estate; 3.6 Reducing risk for solicitors; 3.7 Date security and access rights; 3.8 Valuing assets; 3.9 Dealing with individual assets; 3.10 Wiping devices prior to transfer, disposal or sale; 3.11 Finalising tax to the date of death; 4. Planning for the future; 4.1 Introduction; 4.2 Powers of attorney; 4.3 Accessing assets; 4.4 Using digital technology to improve life; 5. The digitisation of wills and will signing; 5.1 Introduction; 5.2 Digitisation and electronic signatures; 5.3 Law reform; 5.4 Law reform outside of England and Wales; 5.5 Reform of lasting powers of attorney; 5.6 COVID-19 and law reform in England and Wales; 5.7 Managing the risk of remote witnessing; 5.8 COVID-19 and law reform outside of England and Wales; 5.9 Conclusion; 6. Financial abuse and digital assets; 6.1 Introduction; 6.2 The different types of digital scamming; 6.3 What to do if you suspect a client is being scammed; 6.4 How to signpost clients; 6.5 Options for personal representatives; Appendix A: Digital asset inventory.
