Digital Assets in Alberta: Do They Belong in Your Will?
Estate planning in Alberta has traditionally focused on physical assets like real estate, vehicles, and investments. But in today’s world, more and more of our wealth — and memories — are stored online. From cryptocurrency and online bank accounts to social media and cloud photo libraries, these digital assets can be just as valuable as traditional ones.
This raises a critical question: Should digital assets be included in your will?
At Libra Law, our Wills & Estates team helps Albertans navigate this modern estate challenge. Here’s what you need to know.
What Are Digital Assets?
Digital assets include anything stored online or electronically that holds financial, sentimental, or practical value. Examples include:
- Email accounts
- Social media profiles (Facebook, Instagram, LinkedIn, TikTok)
- Online banking and PayPal accounts
- Cryptocurrency (Bitcoin, Ethereum, etc.)
- Loyalty and rewards programs
- Cloud storage (Google Drive, iCloud, Dropbox)
- Intellectual property (blogs, websites, domain names, online businesses)
Unlike a house or vehicle, these assets are often protected by passwords and terms of service agreements, making them harder for executors to access.
Why Digital Assets Matter in Estate Planning
Digital assets aren’t just “extras” — they can hold significant financial and emotional value. Losing access to crypto wallets, online banking, or family photos stored in the cloud can cause real hardship for your loved ones.
By including digital assets in your estate plan, you give your executor legal authority to access and manage them. Without this, accounts may be frozen, lost, or left vulnerable to fraud.
Explore more about executor roles and responsibilities in our article on executor compensation in Alberta.
Alberta Law on Digital Assets
Alberta has no specific legislation dedicated solely to digital assets. Instead, these are handled under existing estate laws. Your executor has a duty to gather and manage your estate, but without clear instructions, accessing digital accounts can be legally and practically difficult.
This is where careful planning matters. For example:
- Some companies (Google, Facebook) allow you to name legacy contacts.
- For assets like cryptocurrency, only someone with the private keys can access them.
- Without written authority, executors may not be able to deal with certain accounts.
Should You Include Digital Assets in Your Will?
Benefits
- Provides legal clarity for executors.
- Protects against asset loss.
- Ensures sentimental assets (like photos or messages) aren’t forgotten.
Downsides
- Wills become public after probate, which could compromise sensitive information like login credentials.
- Updating your will every time you change a password is impractical.
The Balanced Approach
Many Albertans choose to reference digital assets in their will without including detailed login information. Instead, credentials are stored separately (e.g., in a secure password manager or digital vault). Learn more about legal options for safeguarding official documents in our Notarial Services.
Practical Steps to Protect Your Digital Assets
- Create an inventory
Document all digital assets, accounts, and wallets in one secure place. - Use a password manager or digital vault
Store access information safely without writing it directly into your will. - Name a digital executor
Assign someone you trust to manage your online assets. - Integrate with your estate plan
Review your digital assets as part of your overall estate planning in Alberta.
If your assets include business accounts, IP, or websites, consider advice from our Business Law team to make sure corporate holdings are covered.
When to Seek Professional Help
Not every estate requires complex digital planning, but you should seek legal advice if:
- You hold cryptocurrency or online investments.
- You operate an online business or earn from digital IP.
- You want to ensure family access to sentimental assets.
- Your family situation is complex or includes blended households.
Our team at Libra Law works with Albertans to balance wills, trusts, and digital asset planning. You can book a consultation today to explore your options.
Related Reading
- Do I Need a Lawyer to Incorporate?
- Importance of Corporate Records in Alberta
- More resources in our Articles section.
Final Thoughts
Digital assets are no longer a side issue — they’re part of everyday life and must be included in estate planning. By addressing them now, you ensure your loved ones aren’t locked out of valuable accounts or memories.
Whether you’re drafting a will, setting up a trust, or safeguarding your business interests, our Wills & Estates services can help you protect both physical and digital assets.
Book a Wills & Estates consultation today to start building a plan that reflects the realities of the digital age.
NOT LEGAL ADVICE. This article is for general informational purposes only and does not constitute legal advice. To obtain advice specific to your situation, please consult a lawyer or qualified professional.
