You’ve got crypto, a cloud full of photos, and a dozen social accounts. But what happens to all of it when you’re gone? The concept of inheritance is undergoing a profound transformation. Traditionally, estate planning has focused on tangible assets—homes, bank accounts, shares. But in the digital age, our lives and our legacies are increasingly shaped by what we can’t touch: our digital assets.
From cryptocurrency wallets and Non-Fungible Tokens (NFTs) to social media accounts and cloud storage of family photos, digital holdings now form a substantial part of personal wealth and identity. Yet, across Australia, the UK, and the US, estate law is only beginning to catch up —each with varying degrees of reform and recognition. A digital legacy is not just about financial value; it’s about control, privacy, and memory. And without proper planning, much of it risks becoming inaccessible—or lost—after death.
From Crypto to Cloud: What actually counts as a digital asset?
Digital assets encompass far more than most people assume. They include:
- Financial assets: cryptocurrency wallets, trading accounts, online bank accounts, PayPal balances, and digital reward points.
- Intellectual property: monetised blogs, YouTube channels, online courses, eBooks, and domain names.
- Personal data and media: emails, digital photo and video libraries stored in iCloud or Google Drive, subscription services, and personal documents.
- Social and professional accounts: Facebook, Instagram, LinkedIn, X (formerly Twitter), dating profiles, and professional portfolios.
In estate administration, the legal treatment of these assets is unclear. Many service providers operate under foreign jurisdictions and are not legally bound to cooperate with local executors or administrators. Without clear planning and documentation, the result can be disputes, delays, and emotional distress.
The legal lag
In Australia, there is no unified legal framework governing the posthumous handling of digital assets. While the Commonwealth and States provide mechanisms for managing physical and financial property, executors often face hurdles when trying to access the deceased’s digital footprint—especially when overseas-based service providers are involved. Unlike some jurisdictions, Australia currently lacks specific legislation dealing with the management of digital and social media accounts after death. As a result, control over these accounts typically remains with the platform providers, leaving grieving families with little recourse when access is denied.
While the US has enacted legislation such as the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) to clarify fiduciary access, and UK courts have begun developing precedent under common law principles, Australia remains largely unlegislated in this area, with families relying on inconsistent platform policies.
Australia is still catching up. Few Wills include clauses dealing with digital assets. Fewer testators provide secure, updated inventories of online accounts, passwords, or digital asset storage. This creates a complex legal vacuum that can leave families shut out of sentimental or financially valuable digital content.
Why you can’t afford to ignore digital assets
Cryptocurrency alone is a compelling reason to act. With billions in crypto assets now in circulation—and no central authority to recover access—failure to document private keys or share access credentials can result in permanent loss. In the UK, it’s estimated that over £2 billion in cryptocurrency has been lost or remains inaccessible due to death without a digital estate plan. The US reflects similar concerns.
The notorious 2018 case of Canadian crypto exchange QuadrigaCX, where the sudden death of its founder left over US$190 million in cryptocurrency inaccessible, highlights the severe consequences of inadequate digital estate planning. Similar challenges occur worldwide, underscoring the need for foresight in this area.
Social media platforms, cloud storage services, and online businesses also raise critical questions: Who controls a deceased person’s digital photos on Google Drive? Can an executor manage a profitable eBay store? What happens to an Instagram account with thousands of followers? The answers are often unclear—and vary by jurisdiction and platform policy.
For estate planning practitioners, failing to address digital assets is no longer a minor oversight—it’s a liability.
- Value is increasingly digital. As the average household’s financial life becomes more digitised, estate plans that overlook these assets risk omitting thousands—even millions—of dollars in value. One study estimates that more than 10% of Australians under 40 own cryptocurrency, yet few include access details in their Will.
- Digital access is restricted by design. Privacy and cybersecurity laws often prevent service providers from disclosing account information to next of kin or executors, even with a death certificate. Without prior consent, critical data may be unrecoverable.
- Family conflict and litigation risks are growing. Disputes over digital assets can arise when there is no clear plan. For example, family members may differ over whether a deceased person’s social media account should be memorialised or deleted, particularly if it includes monetised content or significant personal meaning.
- Sentimental value is at stake. Emotional and historical losses—such as irretrievable family photos stored on cloud platforms—can have devastating personal consequences. Estate planning must now consider how to preserve a person’s digital memory, not just their financial legacy.
5 Steps to protect your digital legacy
Estate planning needs to evolve. Here are five steps individuals can take—regardless of jurisdiction—to ensure digital assets are not overlooked:
- Create an inventory of your digital assets. Include all accounts, devices, email addresses, cryptocurrencies, online businesses, and cloud storage locations.
- List access details securely. Use a digital password manager or secure legal document to store passwords and recovery methods, ensuring your executor can access them.
- Appoint a digital executor. Some jurisdictions recognise this role officially; others permit its inclusion in a Will as an informal but enforceable instruction.
- Include specific clauses in your Will. Be explicit about your wishes for digital content: deletion, memorialisation, or transfer.
- Review terms of service. Understand the policies of platforms you use. Some, like Facebook and Apple, allow users to pre-authorise post-death access or nominate a legacy contact.
Legislative change is coming
Law reform bodies in Australia and other common law jurisdictions are increasingly turning their attention to the challenges posed by digital estates. In recent years, reviews and public consultations have explored whether existing succession laws adequately address the treatment of digital assets after death. Although no uniform legislative solution has yet emerged, there is growing recognition that clearer legal frameworks are needed to define executor rights and service provider obligations. It is therefore inevitable that statutory reform will emerge within the next decade to better define these rights and obligations regarding digital property, as digital assets continue to grow in both volume and value.
Conclusion: Planning for the intangible
As lives migrate online, so too must estate planning. A modern Will must not only distribute wealth but preserve access to identity, creativity, and legacy. Whether you’re managing millions in digital assets or a trove of priceless family memories stored in the cloud, it’s time to rethink what we leave behind—and who we empower to manage it.
Your digital footprint could be worth thousands—or priceless in memories. Don’t wait until it’s too late. Start building your digital estate plan today.
