Despite people spending nearly a quarter of their day online, SJP’s research found that people’s digital life is often overlooked when thinking about legacy planning in the event of something like death or incapacitation.

The reasons why Scots haven’t shared details of their financial accounts include not knowing they needed to brief someone (39%), not getting round to it yet (15%), not wanting to share this information (14%), and not knowing where to start (9%).

Somewhat positively, robust digital hygiene was also a reason why Scots haven’t shared details with anyone else. Slightly over one in ten (11%) change their passwords so regularly that they say it’s too much work to keep legacy plans updated.

Not so positive is the fact that a significant number mentally keep track of their passwords, and as such have no digital or physical record of them. Four in ten (40%) people in Scotland rely purely on memory to keep track of online passwords.

For many who do share details of their financial accounts with a trusted person, it’s been personal experiences that have prompted them into doing so. Nearly one in ten (8%) have shared after experiencing a personal loss, while 6% have a medical condition that’s driven them to share their information.

Nearly a third (31%) have shared their details to ensure loved ones are as prepared as possible in the event of their death.

Speaking on digital legacy and the new findings, Eddie Grant, director at St. James’s Place, said: “Every element of our lives has been impacted by the rise of digital technology, and while we often relied on a paper trail most things are now being done online, including our financial affairs.

“There are a multitude of benefits that this brings, with the added convenience and speed to access our finances and manage our money. But with this comes a significantly smaller paper trail and as a result this may leave loved ones struggling in times of vulnerability to search for details to these personal accounts, some of which they may not even know exist. This can be especially problematic in the event of death or incapacitation.

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“Legacy planning is often overlooked in our day-to-day lives unless prompted by a personal experience, as our research has shown. It is important that people consider their digital legacy as part of their wider financial planning to ensure that our loved ones have all the information that they may need in times of vulnerability.

“There can be lots to think about and it can be a difficult and uncomfortable topic, so it’s worth speaking to a financial adviser who can help guide you through the process of passing down your digital legacy in a safe way, at your own pace.”