The term “digital assets” has become an umbrella term for all manner of assets, including airline rewards, hotel points, e-mail accounts, domain names, online bank accounts, social networking accounts (e.g., Facebook), data stored on computers or mobile telephones, electronic currency, online photos and videos, photo or video sharing accounts, electronically recorded music, blogs, and online purchasing/selling accounts (e.g., Amazon, eBay). Most digital assets have minimal monetary value, but some have significant monetary or sentimental value.

Digital assets are typically protected by a username and password, and due to the nature of the assets and federal law, it may be extremely difficult if not impossible for an agent or executor to access, or even discover, a digital asset. Access to these assets by agents and executors is an issue that has not yet been satisfactorily resolved among users, lawmakers and digital service providers. Nevertheless, these assets must be managed in the event of the owner’s incapacity or death. We encourage clients to develop an appropriate plan for the management of their digital assets in the event of death or incapacity.