“What happens to your cryptocurrencies, online business, social media if you are gone?”Why Parents in Singapore Need to Think Ahead

As more of our lives shift online, digital estate planning has become an essential part of safeguarding a family’s future. It is no longer just about physical or financial assets, but also about managing one’s digital legacy.

Digital assets can take many forms. For some, it is cryptocurrency stored in online wallets. For others, it may be an e-commerce business, a personal blog or domain name, or even cloud storage accounts that hold years of family photos and important documents. Social media accounts also fall under this category, as they often represent both personal memories and public identity. While these assets may exist only in digital form, they can carry significant financial, sentimental, or reputational value.

Over the years, I have noticed that many parents are surprised when I raise this topic during estate planning discussions. Most assume that their digital accounts will somehow be automatically passed on, only to realise that without proper planning, these assets can be lost or locked away. I have seen families struggle to retrieve important documents or sentimental photos stored online, and I have also seen valuable cryptocurrency remain inaccessible because no one knew the password. These experiences highlight why digital estate planning is not just theoretical, it has very real consequences for families.

When I work with parents, the conversation usually begins with taking stock of what they own online whether it is cryptocurrency, an online business, a domain name or blog, cloud storage, or social media accounts. Once we identify the assets, the next step is deciding who should take over each one. A spouse may be the best person to safeguard family memories, while a business partner may be more suited to keep an online business running. From there, I guide them on how to secure access. A password manager or digital vault often works best, so that loved ones can retrieve the information easily when needed.

It is also important to ensure that digital assets are legally recognised.

Increasingly, families in Singapore are updating their wills to include these assets, and legal firms are offering digital will services to make the process more seamless. In addition, many online platforms have introduced their own legacy tools, which can complement a will:

• Google Inactive Account Manager – allows you to decide who will gain access to your account after a period of inactivity.

• Facebook Legacy Contact – lets you appoint someone to manage or memorialise your profile.

• Apple Digital Legacy – grants nominated contacts access to your iCloud data and photos.

When combined with a well-drafted will, these tools provide families with clarity and control, ensuring that digital assets are handled in a way that respects both financial value and sentimental meaning.

The trend in Singapore is clear: digital estate planning is no longer just an option but an essential step in protecting one’s legacy. For parents, this means safeguarding not only financial wealth but also the memories, identity, and online presence that form part of the modern family’s story. The key question is no longer whether to have a will, but whether that will truly reflects both your physical and digital life.