The following Private Client guidance note Produced in partnership with Kerry Bornman of 3 Stone Buildings provides comprehensive and up to date legal information covering:
Digital assets survive incapacity or death. Anyone who owns a digital device or has an online account should have a plan for dealing with that asset, whatever their age.
There is no legislative definition of a ‘digital asset’ in the UK. Digital assets can be understood as any information about you or created by you that exists in digital form, either online or on an electronic storage device, including the information necessary to access the digital asset.
Digital Assets include:
Personal digital assets:
computing hardware: computers, external hard drives, flash drives, tablets, smartphones, digital music players, e-readers, digital cameras
any information or data that is stored electronically: online, in the cloud or on a physical device
online accounts: banking, utilities, insurance, email, stock trading, betting, social media, shopping, film subscriptions, photo and video sharing, gaming accounts, and online storage
virtual currency: Bitcoins, Linden dollars, etc
domain names, websites, blogs
Business digital assets:
any digital assets owned by a business: computing hardware, data, licensable code, passwords to patents, presentations, white papers, link portfolios and financial spreadsheets, branding assets, analysis reports
online accounts: company email, Google ID, social media, apps
assets of an online store: eg eBay, Etsy, Amazon
domain names, websites
mailing lists, newsletter subscriptions, client email lists, client history
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
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