F.A.Q - Digital Assets and Modern Estate Planning in South Africa

Digital assets include online accounts (e.g., email, social media), digital files (e.g., photos, documents), cryptocurrencies, and domain names. In estate planning, they must be identified and managed for transfer or closure after death.

Need to plan for digital assets in your estate? Contact Louwrens Koen Attorneys for guidance.

Social media platforms (e.g., Facebook, X) have policies for memorializing or deleting accounts. Your will can instruct the Executor to manage or close accounts, but platform terms may limit actions without pre-set permissions.

Louwrens Koen Attorneys can guide you.

Yes, you can include digital assets in your will by listing them and providing instructions for access or distribution. Specify passwords or access methods in a separate, secure document to avoid legal issues.

Want to secure your digital legacy? Louwrens Koen Attorneys can assist.

Cryptocurrencies are treated as assets and included in the estate’s inventory. The Executor needs private keys or wallet access to transfer them, as outlined in the will, and must report their value for estate duty.

The Executor needs account details (e.g., usernames, passwords) or legal authority to access digital assets, as specified in the will or approved by the Master of the High Court. Platform policies may restrict access.

Facing access challenges? Contact Louwrens Koen Attorneys for support.

Yes, digital assets (e.g., cryptocurrencies, valuable domain names) are included in the estate’s net value for estate duty (20% on the first R30 million, 25% thereafter). Their market value at death is assessed by SARS.

 List digital assets in a secure document, store passwords with a trusted attorney or digital vault, and include clear instructions in your will. Update access details regularly to prevent loss.

Without planning, digital assets may be inaccessible, lost, or mismanaged, as Executors lack legal authority or access. This can delay estate administration or result in financial loss (e.g., unclaimed cryptocurrencies).

List digital assets in a secure document, store passwords with a trusted attorney or digital vault, and include clear instructions in your will. Update access details regularly to prevent loss.

Without planning, digital assets may be inaccessible, lost, or mismanaged, as Executors lack legal authority or access. This can delay estate administration or result in financial loss (e.g., unclaimed cryptocurrencies).

Yes, an inter vivos or testamentary trust can hold digital assets, ensuring controlled management for beneficiaries. The trust deed must specify how digital assets (e.g., crypto wallets) are handled.

Considering a trust? Contact Louwrens Koen Attorneys for tailored planning.

Challenges include platform restrictions, lack of clear legislation, and proving asset ownership. A well-drafted will and secure access instructions help Executors navigate these issues effectively.