Planning for the succession of digital assets

Estate planners’ current strategies for the disposition of digital assets are quickly becoming out-dated. This is largely the result of ambiguities concerning proprietary rights of digital assets after death. When advising clients on how to plan for the succession of digital assets, it is important for estate planners to understand the nature of digital assets today and to recognize how these assets may evolve. In failing to take into account the evolving nature of digital assets, estate planners are liable to craft short-sighted and thus ineffective succession plans. As the popularity of digital executor businesses increases, estate planners ought to caution clients on their shortcomings. Additionally, legislatures must create statutes which outline the rights of individuals vis-à-vis online service providers.