Digital assets can be valuable in a number of ways. Often, some digital assets may have sentimental value, such as personal photos and videos stored online. Other digital assets, such as online marketplaces, e-wallets, and digital currencies, may have financial value.
For example, an individual’s digital currency portfolio, such as Bitcoin, may have significant financial value, and it’s important to consider how this asset will be managed and distributed after their death. Similarly, an individual’s online marketplace account, such as an eBay account with a high feedback rating and a large number of positive transactions, may have financial value as a valuable business asset.
Yes, it’s a good idea to include your digital assets in your will. Digital assets refer to online accounts, such as social media profiles, email accounts, online storage, and cryptocurrencies. While these assets may have both sentimental and financial value, it’s important to specify how you would like them to be managed and distributed after your death.
If you don’t name a specific beneficiary for these digital assets, they will pass to your residuary beneficiary or beneficiaries.
You may also be able use your will to transfer digital assets that you have licensed, like a domain name or a copyright, but this depends on whether the terms of the licensing agreement allow transfer at death. Because of this, you’ll want to check your agreements and see a lawyer if you have concerns.
In practical terms, most of your digital assets won’t be transferred through your will. This is because you don’t have the authority to transfer them. Even if they hold sentimental or monetary value for you or your family, if you don’t own or have the right to transfer them upon death, they cannot be included in your will. A good example of this is email and social media accounts. Technically, you don’t own these accounts, you only have a license to use them, and your ability to transfer them to someone else is restricted by the terms you agreed to when you opened the account.
Examples of digital assets that won’t pass through your will:
This article was prepared by estate planning researchers and reviewed by S. Miller and staff. With more than 25 years of experience in estate planning documentation and probate processes, our editorial oversight ensures clarity and accuracy. This content is provided for informational purposes only and does not constitute legal advice.
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