When two worlds collide: digital assets and your estate plan

Abstract

With the digital world being forced to interact with the physical world when it comes to death and the transfer/succession of asset ownership, we currently have two very different worlds colliding. Even in our technology-focused world, people’s estate plans still only account for “traditional” assets, like a car, bank account, house, etc., whereas more and more individuals own digital assets. Planning for digital assets is much more involved than one may think; different laws and classifications of digital assets make planning for these types of assets very specialized, as you are working with a real risk that a digital asset may be lost forever.