I don’t want to get technical, but Queenslanders are increasingly discovering that an estate isn’t limited to property and bank accounts.
A lifetime of photos, emails, social media and even cryptocurrency may sit behind passwords or two-factor authentication and, without planning, these ‘digital assets’ can be lost forever.
Under Queensland Law, a will governs how your assets are distributed. But it doesn’t automatically give your executor authority to access online accounts.
Many service providers, especially overseas platforms, refuse access unless your will specifically mentions digital assets.
A simple digital assets clause may avoid future frustration by giving your executor clear authority to locate, access and deal with your online presence. It’s also wise to keep a secure list of accounts, subscriptions and passwords (not in the will itself ), so your executor knows what exists.
As daily life becomes more digital, ensuring your online legacy is properly managed has become an essential part of estate planning in Queensland.
If your will is more than a few years old, now is a good time to review it. Our estate planning team can help ensure your will reflects today’s realities.
Trent Wakerley, Director, Kruger Law, Level 3, Ocean Central, Ocean Street, Maroochydore, 5443 9600, krugerlaw.com.au
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