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You won’t live forever but your posts on Facebook might!
Posts on Facebook, comments on YouTube and photos on Instagram will live on after death, raising estate planning considerations.
The number of Facebook accounts held by people who are dead could outnumber those of the living by 2060.
This is only going to become more pronounced as entire generations grow up using social media.
Ownership of digital assets is a difficult legal area, as legislation and the social media platforms have struggled to keep up with developments, but it
is nevertheless an area that should be considered in your estate planning.
Digital wallets such as PayPal can have amounts of money stored on them, internet domain names can have value and can sometimes be sold, and articles from
bloggers can even be a type of intellectual property,
For investors in bitcoin and other types of cryptocurrency such as ethereum or litecoin this can be an even bigger consideration.
A bank will put a stop on your account when informed by an executor and account assets are considered in the probate process.
This will not necessarily be the case for your digital assets.
We should factor our digital assets into our estate plan, with instructions on the location and access of these assets.
Estate lawyers can advise you on the best process.