If you own digital assets, it certainly may be possible to include them in your estate plan. However, it often depends on the type of asset you hold.
For example, perhaps you have purchased cryptocurrency, which is a type of digital currency. It is held in an online wallet, but it has a cash value. You often can include cryptocurrency in your estate plan by naming a direct beneficiary, the same way you would with an investment account or a bank account.
One thing to keep in mind, however, is that you need to give that beneficiary all the information necessary to access the funds. You should not put your login credentials in the estate plan directly, but you should talk with that beneficiary in advance or leave them explicit instructions rather than just naming them in your will.
What about digital products?
With digital products, things become more complicated. Many video games, movies, books and musical compositions are simply digital files that a person buys and downloads.
There are situations in which you can leave these to beneficiaries, but it does not always work. For instance, when you buy many digital products on the internet, you do not actually own them. You simply purchase a license. That license allows you to access or use the product whenever you want. However, the fine print may state that you are prohibited from passing that product on to anyone else. When you pass away, the license simply expires.
The rise of digital products and digital currencies has made estate planning more complex for those who own them. An experienced attorney can help you consider your options.
