McNees Minute: Digital Assets

Sponsored Content: McNees Minute

Brian Honness, Esq. – 717-581-3726

As more of our assets become digital, it’s important to consider how these assets will pass at death.  A “digital asset” is an electronic record in which an individual has a right or interest.  This term is very inclusive and includes assets such as digital currencies, online marketplace accounts, and social media accounts. Some online accounts allow individuals to name a “designated recipient” to access and manage their account in the event of their death.  In addition, Pennsylvania residents can provide the Executor of their estate with the ability to manage and access their digital assets.  However, if an individual fails to name a designated recipient, and the individual’s estate plan documents do not provide their Executor with the ability to access and manage their digital assets, the disposition of such assets may become difficult and time-consuming. To learn more about digital assets as part of your overall estate plan, please reach out to the Estate Planning professionals here at McNees.  

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