What are digital assets?

Digital assets have been defined as anything that is stored on an electronic device — regardless of the owner of the physical device.
There’s indeed a difference in the location of the assets. On the one hand, there are the ones based in your computer, hard drive, or thumbdrives. On the other hand, there are some which you don’t control, the ones in the cloud. In the two cases, digital asset are anything with an owner that is in a digital file.
Caroll defines five categories : devices and data, emails, online accounts, financial accounts, and online businesses.

These items are more and more interconnected, as for example emails serving as a common keyring to store accounts information, and as a mean to control and regulate your different accounts. Emails are the safety net in the case of loosing a password. Devices are also becoming more and more common, used as a masterkey, and they have their share of keys through the different applications, browsers, identification cookies, ..

Who will get your iTunes when you die?

Template of a Will Clause For Digital Assets

(template)

My Trustee may access, handle, distribute, and dispose of my digital assets, and may obtain, access, modify, delete, and control my passwords and other electronic credentials associated with my digital devices and digital assets. My Trustee may engage contractors or agents to assist my Trustee in accessing, handling, distributing, and disposing of my digital assets. [OPTIONAL: Without restricting my Trustee, it is my wish that my Trustee engage to assist the Trustee in accessing, handling, distributing, and disposing of my digital assets.]

If I have prepared a memorandum, which may be altered by me from time to time, with instructions concerning my digital assets and their access, handling, distribution, and disposition, it is my wish that my Trustee and beneficiaries follow my instructions as outlined in that memorandum.

For the purpose of my Will, “digital assets” includes the following:

  1. Files stored on my digital devices, including but not limited to, desktops, laptops, tablets, peripherals, storage devices, mobile telephones, smartphones, and any similar digital device; and
  2. Emails received, email accounts, digital music, digital photographs, digital videos, software licenses, social network accounts, file sharing accounts, financial accounts, banking accounts, domain registrations, DNS service accounts, web hosting accounts, tax preparation service accounts, online stores, affiliate programs, other online accounts, and similar digital items, regardless of the ownership of any physical device upon which the digital item is stored.