The internet’s exponential explosion is a very new phenomenon. If we were to travel back in time by thirty years, the world would be a very different place. Teenagers were forced to ring their friends on the telephone and were tethered to the line in the hallway to do so. ‘Now That’s What I Call Music’ or taping tunes from the radio were the only known ways to make a playlist and the tangible ownership of our belongings made the process of Will writing a lot easier.
However, a recent report, conducted by YouGov, has found that our increased online presence has made the concept of ownership very confusing and ambiguous. According to the report, over a quarter of respondents intend to pass on their social media and online property to a beneficiary after they die.
Additionally, unlike many other forms of social media like Friends Reunited and MySpace, Facebook has sustained, leaving years of our memories locked into it. 26% of people want to pass this on to a trusted person once they die.
Where 67% would like their accounts deleting on their death, 7% would like them to run eternally. These concepts highlight the real problem with online data; who owns it and how can it be transferred after death?
The world is no longer a simple place; Willwriters and experts in Estate Planning need to be aware of these niche factors that will affect lots of estates in the future.
The Institute of Professional Willwriters (IPW) and Institute of Scottish Professional Willwriters (ISPW) work tirelessly to ensure they are experts in the sector’s most prevalent issues. Their regular courses taught by respected and experienced professionals help to maintain the incredibly high standards of expertise that their members set.
Additionally, if you are struggling to help a client, the Institute’s Members’ forum is a collaborative space to share best practice and ask the important questions.
Becoming a member will solidify your expertise in the important issues within the sector, whilst also allowing you to integrate yourself into a supportive community of like minded professionals.
