Dealing with Digital Assets – A Growing Need

If a loved one suddenly passes away, family members, or the estate planning attorney for the decedent, have to organize the decedent’s assets. The usual assets that come to mind include the decedent’s home, vehicle, IRA, checking account, family heirlooms, etc. However, a growing need is finding and organizing the decedent’s digital assets. Certain digital assets can be overlooked, or even lost, during the settlement of an estate. These online accounts are a new class of personal property that may have monetary worth in addition to sentimental value. According to a survey by McAfee, the average internet user has nearly $40,000 in unprotected digital assets. Membership in online loyalty programs have increased more than 26 percent over the past two years and the value is estimated at 2.65 billion, according to the 2013 Colloquy Loyalty Census. This means there may be billions of dollars worth of rewards that may be...