A growing number of adults in their 20s, 30s and early 40s believe estate planning is something to worry about later in life – assuming it only matters once they own property, have significant savings, or start a family.
However, The Estate Registry, which provides a suite of end-of-life admin services, warns that this perception is outdated, particularly for a generation whose most valuable possessions may exist online rather than in physical form.
Howard Enders, chief operating officer at The Estate Registry says: “From social media profiles and online bank accounts to cryptocurrency, digital photos, and subscription services, today’s younger adults often hold extensive digital footprints.
“Without clear planning, these assets – and the memories or financial value attached to them – can become difficult or even impossible for families to access after someone dies.”
While previous generations accumulated wealth primarily through property and physical assets, many younger people now hold a significant portion of their personal and financial lives online.
Digital assets can include:
- Social media accounts such as Facebook, Instagram, TikTok and LinkedIn
- Email accounts and cloud storage services
- Digital photo libraries and personal documents
- Online banking and payment platforms
- Cryptocurrency wallets and digital investments
- Online businesses, monetised content or intellectual property
- Subscription accounts and digital purchases such as music, films, and e-books
For many people under 40, these digital assets may represent their most meaningful or valuable possessions. However, unlike traditional assets, access to digital accounts is typically governed by service provider terms and strict data protection laws. Without preparation, family members may struggle to retrieve accounts, photos, or even identify what exists.
Enders continues: “In the UK, digital assets generally form part of a person’s estate. This means that if someone has a valid will, their executor is responsible for dealing with those assets after death. However, there are practical challenges.
“Many platforms prohibit account sharing or password access, even after death. Simply knowing someone’s password may not legally grant access, and companies often require proof of death and authority before taking action on accounts.
“Different platforms also have different policies. Some services allow accounts to be memorialised or deleted after death. Others may allow limited access to designated contacts. In some cases – particularly with encrypted services or cryptocurrency wallets – assets may be permanently lost if access details are unavailable.”
Without a will, the situation becomes more complicated. The estate will be distributed according to UK intestacy rules, and family members may need to go through a legal process to gain authority over the estate before they can even begin approaching digital service providers.
Access depends largely on preparation. In many cases, families cannot log in to a loved one’s account due to privacy and fraud protections. Even spouses or parents may be refused access unless they can demonstrate legal authority.
Executors can request certain actions – such as closing accounts or downloading specific content – but this process can be slow and inconsistent across platforms.
The most common barriers include lack of knowledge that accounts exist, no record of login details or digital wallets, strict company privacy policies and legal requirements for proof of authority.
For cryptocurrency holders, the issue can be particularly severe. If private keys or wallet credentials are not stored securely and shared with a trusted person, the funds may become permanently inaccessible.
“Estate planning for younger adults does not necessarily mean complex trusts or significant wealth planning”, says Enders. “The priority is organisation and clarity.
“A simple will can help ensure that a chosen person – known as an executor – has the legal authority to manage both physical and digital assets. This can simplify the process for families and reduce delays when dealing with service providers.”
In addition to a will, maintaining a record of digital accounts is important. This might include a list of online accounts, instructions for social media profiles, location of encrypted files or cloud storage, details of cryptocurrency investments, and access to password managers or digital vaults. And, crucially, these details should be stored securely and updated regularly.
Enders adds:“Beyond financial considerations, digital assets often hold deep personal value. For many families, access to photographs, videos, and personal messages stored online can be incredibly meaningful after a loss. Without planning, these memories may remain locked behind inaccessible accounts.
“Social media profiles can also become important spaces for remembrance, which is why some platforms now offer memorialisation options if requested by family members.”
As digital lives continue to expand, estate planning is evolving beyond traditional concerns about property and inheritance.
For the UK’s younger generation – many of whom rent rather than own property – the most valuable parts of their estate may be digital identities, creative work, financial accounts, or irreplaceable online memories.
Taking steps to organise and document these assets today can save families significant stress and uncertainty later. The Estate Registry and legal professionals strongly recommend that adults of all ages consider basic estate planning, regardless of wealth or life stage.
Enders concludes: “In a digital-first world, planning for the future is no longer just about what we own – but also about what we leave behind online.”
This article was submitted by The Estate Registry as part of an advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
