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ARTICLE · 18 MARCH 2024

Succession Of Digital Assets In Guernsey

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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Dealing with the succession of digital assets has become increasingly important with an estimated 5 million UK adults holding crypto assets in 2022, and can be complex and time-consuming.

GuernseyTechnology
Ardra Swaraj
Ardra Swaraj
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Dealing with the succession of digital assets has become increasingly important with an estimated 5 million UK adults holding crypto assets in 2022, and can be complex and time-consuming. It can also raise many practical challenges for those administering estates, both in terms of access and ownership. However, by taking certain preparatory steps in relation to their estate planning, testators can ensure that their digital assets are dealt with in accordance with their wishes and will not be lost.

What are digital assets?

The term "digital assets" does not yet have a legal definition in Guernsey but it can broadly be understood to mean any asset that is represented digitally or electronically.1 Digital assets include:

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