Page 33 - Oxted Local April 2025

In today’s increasingly digital world, assets
like cryptocurrencies and digital art are
becoming a significant part of our lives and
wealth.
The Property (Digital Assets etc) Bill,
introduced by the Government in
September 2024, marks a crucial
development in how UK law recognises
digital assets.
Legal recognition for digital assets
The Bill introduces a groundbreaking third
category of personal property specifically
designed for digital assets, removing
previous legal uncertainty where these
assets existed in a grey area.
Digital assets will now have clear legal
status, providing owners with defined rights
and protections and giving direction on
what should happen to those assets in their
Wills and ultimately on death.
This legislation allows you to transfer and
sell digital assets with greater confidence,
include them in estate planning, protect
ownership rights more effectively and
manage investments with greater security.
Estate planning and digital assets
The Bill’s recognition of digital assets
as personal property has significant
implications for estate planning. When
preparing your Will, it’s now more
important than ever to include clear
instructions regarding your digital assets.
For businesses operating in the digital
space, the Bill provides a clearer legal
framework, supporting the UK’s position as
a leading centre for digital asset innovation.
The Government has announced an expert
group, led by the UK Jurisdiction Taskforce,
to provide guidance on the technical and
legal issues.
How Morr & Co can help
Our Private Client team offers guidance on
estate planning for digital assets, protecting
your digital investments and managing
digital asset distribution. Such bespoken
planning ensures that your digital assets
are properly documented and devolve
according to your wishes.
While the implementation date of the
legalisation is yet to be confirmed, now is
the time to review how your digital assets
devolve on your death.
If you need assistance with any of the
above please contact Natalie Payne.
UNDERSTANDING
YOUR DIGITAL ASSETS
The law firm for business and life
01883 779312
natalie.payne@morrlaw.com
12 Station Road West, Oxted,
Surrey, RH8 9ES
Natalie Payne
Partner | Private Client