Digital Assets, Property and Beyond – The Modern NZ Will

When we think of creating a will and contemplating what we are leaving behind, we tend to picture houses, cars, and savings accounts. But in 2025, estates increasingly include digital assets and new forms of property. From cryptocurrencies to social media accounts, these intangible assets require specific attention during estate and trust planning. This article explores how to effectively include digital assets in your will and trust to protect your digital legacy.

Why you should include digital assets in your estate plan
Failing to include digital assets in your estate planning risks losing access to those assets or causing disputes among beneficiaries. Digital assets can hold considerable financial value (such as the value held in cryptocurrencies), and sentimental value (such as family photos stored online).

Practical steps for including digital assets in your will and trusts

1. Create a digital asset inventory – List all digital assets, including usernames, passwords, PINs, and backup codes. Regularly update this inventory and store it securely, for example, in a password manager or a sealed document accessible to your executor or trustee.
   
   
2. Make specific bequests in your will – Clearly identify digital assets in your will or trust document, specifying how each should be handled or who should receive them. 

3. Appoint a digital executor or trustee – Choose someone comfortable with technology and who understands your wishes to manage your digital assets. 

4. Grant clear legal authority – Include clauses that give executors or trustees the legal right to access and manage digital assets, including decrypting files or accessing accounts. 

5. Consider encryption and privacy – Ensure that your plans respect privacy laws and provide instructions on confidentiality and appropriate use of data.

Relevant legislation and legal considerations
The Wills Act allows for the distribution of all property, including digital assets, but does not explicitly refer to them. While the Trusts Act offers flexibility for trustees to manage assets but requires clear drafting to encompass digital assets.

Different platforms often have their own rules for dealing with digital assets on death, and careful consideration needs to be made both by you when determining the best way of distributing those digital assets in your will, but also by executors and trustees when navigating those platform-specific rules. Examples of some platform-specific rules include Facebook’s Legacy Contract or Google’s Inactive Account Manager – but these are voluntary.

Business and commercial digital assets
Businesses also need to protect digital assets such as domain names, customer databases, and online storefronts. These should be:

• included in business succession plans.
• accounted for in shareholder agreements or partnership contracts.
• held in trusts if appropriate to ensure continuity.

Final thoughts
Digital assets are a vital part of modern estate and trust planning. Working with a specialist law firm can help ensure your will and trust properly include and protect those assets, avoiding confusion and disputes for your loved ones and business partners.

The experienced team at MoranLaw can help you prepare your estate and asset planning arrangements. Get in touch today.