The Economics of Death
Digital Assets After Death
What happens to online accounts, cryptocurrency, photos and digital money after someone dies, and how families can plan for digital inheritance.
People now have many digital assets.
Examples
- Bank and UPI apps.
- Demat and trading accounts.
- Cryptocurrency.
- Email, social media and cloud photos.
- Domain names and online businesses.
Problems
- Families may not know passwords or accounts exist.
- Crypto without keys can be lost forever.
- Platforms have policies limiting access.
Platform tools
- Google’s Inactive Account Manager.
- Facebook’s legacy contact and memorialisation.
- Apple’s Legacy Contact.
Law
Indian law on digital inheritance is still developing; wills can include digital assets.
Crypto loss
Globally, large amounts of Bitcoin are believed lost because owners died or lost keys.
Planning
- Keep a secure list of accounts.
- Use password managers with emergency access.
- Mention digital assets in wills.
The locked wallet
A crypto investor dies without sharing his wallet keys, and his family can never access the coins.
Thinking digital assets pass automatically to heirs
Families often can't access them without planning.
Key takeaways
- Digital assets include bank apps, demat accounts, crypto and photos.
- Families may lack access without passwords.
- Platforms offer legacy tools.
- Planning and wills should include digital assets.
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