Who will get your iTunes when you die?

Barriers to Estate Planning for Digital Assets

A number of barriers exist in the process of estate planning for digital assets. People avoid estate planning in general until an event occurs that is related to death. The work that is involved in organizing and documenting every online account and related login information and password is a daunting task that may be off-putting to some individuals. On the other hand, individuals may not realize the value in or importance of planning for digital assets. However, one recent survey found that U.S. consumers value their digital assets at nearly $55,000, on average.

Additionally, there is a lack of uniform law governing the distribution of digital assets, and a minority of states have enacted laws to address the management of digital estates. The apprehension, amount of work, and lack of uniform laws that individuals are faced with serve as barriers that make estate planning for digital estates more difficult.

Eleanore

Eleanore

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