Digital assets have finally grown up. From 2nd December 2025, the new Property (Digital Assets etc) Act 2025 has confirmed something many people already suspected: assets that exist purely online – such as cryptocurrency and NFTs – can legally be owned as personal property.
While the Act itself is short, its impact is big, particularly for Wills, trusts and estate planning.
Until now, digital assets sat in a bit of a legal grey area. People could buy, sell and control them, but the law struggled to categorise them neatly. That created real risks. Assets could be missed from Wills, executors could struggle to recover them, and families could face unnecessary disputes after death. The new Act removes much of that uncertainty.
So, what counts as a digital asset?
Rather than listing specific items, the law focuses on principles. In practice, this includes cryptocurrencies like Bitcoin and Ethereum, NFTs, tokenised investments, and even in-game or platform tokens that can be traded for real value.
However, not everything online is automatically inheritable. Many digital accounts are governed by licence agreements rather than ownership rights. However, social media profiles, email accounts, and subscription libraries (such as music, films and e-books) usually can’t be passed on, regardless of the new law.
Why this matters for Wills and estates
The key change is clarity. Digital assets are now clearly part of someone’s estate. They can be gifted in a Will, held in trust, included in the residue, and valued for Inheritance Tax planning. You will be unsurprised to hear that HMRC already taxed digital assets, but this legislation strengthens their status as “real” property.
For executors and trustees, it also raises the bar. Digital assets must be managed responsibly. That means securing private keys, understanding investment risk, and keeping proper records. Ignoring or mishandling crypto could now lead to the same kind of claims as mishandling shares or property.
Practical steps worth taking now
If you own digital assets, they should be treated as standard estate-planning items – not a niche add-on. This means making sure your Will allows executors to deal with them properly and thinking about whether assets should be gifted directly or sold and distributed as cash.
Access planning is just as important. Executors can’t manage what they can’t find. A secure inventory, clear instructions stored outside the Will, and careful use of encrypted storage can make all the difference. One golden rule remains: never include passwords, PINs or private keys in your Will.
Looking ahead
Although this Act isn’t the final word on digital ownership, it’s a crucial foundation. Digital assets are no longer fringe investments – they’re mainstream and need planning for.
