After providing for the location, accessibility, and ownership of a digital asset, one must then determine the individual’s estate plan wishes and legacy goals. People generally do not have specific digital estate plans in place, often attributable to the fact they are unaware of the importance of developing a specialized digital estate plan.39 Many people mistakenly believe that the only benefit of estate planning is the disbursement of assets upon death according to one’s wishes.
However, security issues, protecting a legacy (including a personal, family, or commercial image), and fulfillment of an overall estate plan are equally important. Uncertainty as to the dissemination and management of assets often arises in the absence of an estate plan, potentially creating significant strife for family members. It is therefore imperative for estate planning attorneys to consider digital assets in addition to physical or traditional assets to ensure both the fulfillment of their client’s wishes and the safe and efficient transfer of digital assets to the next generation.
