Why you need a digital estate plan

July 23, 2025

When most people think about estate planning, they picture wills, superannuation balances and the family home. But in 2025, a new category of wealth is creating chaos for Australian families: digital assets.

Things can get messy when a loved one dies and no one can access their Bitcoin wallet, Gmail, or social media accounts.

Let’s look at what digital estate planning really means, why it’s now critical, and how to get it right.

Case study: The Bitcoin that died with him

In 2023, a 41-year-old software developer passed away unexpectedly. His family knew he held over $450,000 worth of Bitcoin in cold storage. But there was no record of the wallet password, recovery seed phrase, or any nominated digital executor. Not even his partner knew the platform he used.

Despite probate being granted for his estate, the crypto was inaccessible. To this day, it’s sitting on the blockchain — untouched, unrecoverable, and legally part of the estate, but practically lost forever.

What are digital assets?

Digital assets are online, encrypted or cloud-based items of value. These can include:

Cryptocurrency wallets (Bitcoin, Ethereum, Solana)
NFTs and metaverse property
Social media accounts (Facebook, Instagram, LinkedIn)
Email accounts (Gmail, Outlook, iCloud)
Online banking or investment logins
Business accounts (Google Workspace, Dropbox, Canva)
Personal content: photos, videos, cloud backups

These assets don’t sit in your filing cabinet. And without passwords, access keys or structured nomination, they become locked the moment you pass.

Why a digital executor matters

A traditional executor manages physical and financial assets. But if they don’t know:

What digital assets you have,
Where they’re stored, and
How to access them…

…those assets are often lost.

A digital estate planning solution should include:

A digital asset inventory
Secure encryption of access keys
A nominated digital executor
Compliance with privacy, data and succession laws

Table: Common digital assets & how to secure them for succession

Digital asset	Common platform	What you must do
Cryptocurrency	Cold wallets, Binance	Secure wallet seed phrase; store with legal firm or executor
NFTs	OpenSea, MetaMask	Nominate wallet heir + explain NFT storage structure
Gmail	Google	Enable Inactive Account Manager; document credentials
Facebook	Meta	Nominate legacy contact; consider memorialisation setting
Outlook/Hotmail	Microsoft	Record credentials; store with will or encrypted vault
Google Drive/iCloud	Apple, Google	Share access or nominate emergency access
Dropbox	Dropbox	Add shared user or handover logins securely
Business logins	Canva, Xero, etc.	Nominate digital executor with access permissions
Password managers	1Password, LastPass	Appoint emergency access; share with digital executor

Don’t let digital wealth disappear

The more of your life that lives online, the more critical your digital estate plan becomes. Whether you hold crypto, NFTs or just want your kids to access your family photos in the cloud, a properly structured digital estate plan is now essential.

Next step

If your will doesn’t cover your Gmail, crypto wallet or LinkedIn, it’s time to create a digital estate plan with a digital executor.

Grant Abbott

Chairman of the Succession, Asset Protection, and Estate Planning Advisers Association (SAPEPAA)

Grant Abbott is widely recognised as Australia’s foremost expert on self-managed superannuation funds (SMSFs), with over three decades of experience in superannuation law, estate planning, and wealth protection. As the founder of multiple successful ventures including LightYear Docs, LightYear Training Group, and I Love SMSF, Grant has pioneered many of the strategies that now underpin modern SMSF advice in Australia. His deep knowledge of the SIS Act, tax legislation, and advanced structuring techniques has made him the go-to authority for accountants, financial planners, and legal professionals across the country. Grant’s career has been defined by his passion for education and empowerment. He has trained more than 25,000 advisers, authored several best-selling books on SMSFs, and continues to innovate through AI-driven compliance and strategy tools that simplify the complex world of SMSFs for professionals and trustees alike. His thought leadership spans topics such as contribution maximisation, SMSF estate planning, intergenerational wealth transfer, and protecting superannuation from litigation and bankruptcy—all delivered with practical, actionable insights that drive results. In an industry facing constant change, Grant remains at the forefront—combining deep legislative understanding with future-focused innovation. His latest work integrates artificial intelligence with SMSF strategy, helping advisers scale their businesses while delivering highly personalised client outcomes. Whether presenting to national conferences, mentoring elite advisers, or developing cutting-edge legal documentation, Grant Abbott is committed to reshaping how Australians grow, protect, and pass on their superannuation wealth.

Articles by Grant