Manhattan probate and estate planning attorney Benjamin A. Goldburd, partner at Goldburd McCone LLP in New York, warns that digital assets—such as online accounts, social media, cryptocurrency, websites, and digital content—are often overlooked in estate planning. For more information please visit https://www.goldburdmccone.com
— In an increasingly digital world, it is easy to overlook the assets that exist in the virtual space when developing an estate planning strategy, warned Benjamin A. Goldburd.
For more information please visit https://www.goldburdmccone.com
“With our lives becoming increasingly digital, so have our assets,” he said. “As the world continues to move further into the virtual space, the management of digital assets in probate has become a critical component of modern estate planning.”
Digital assets exist online or in virtual environments rather than in physical form. They cannot be touched or physically perceived, yet they are very real—ranging from Instagram photos and Facebook messages to cryptocurrency holdings. Even the devices used to access them, such as computers, tablets, or phones, can themselves be considered assets.
While some digital content, like family photos, may hold primarily sentimental value, other assets such as YouTube channels or monetized blogs can continue generating income after death. Similarly, digital creations like music, artwork, and eBooks may produce ongoing royalties that contribute to an estate’s value.
Even domain names can carry resale value, and computer hardware may have financial worth. In addition, business owners may hold valuable intellectual property, patented technologies, websites, domain portfolios, and financial accounts tied to online operations.
Goldburd provided guidance on how to manage these digital assets effectively, emphasizing the importance of protecting and properly transferring them during the estate planning process.
“We hold a wide range of digital assets today, including cryptocurrencies, online accounts, social media profiles, and intellectual property rights. Managing these can be complex and requires thoughtful planning,” he said.
He advised individuals to identify and document their digital assets as part of their estate plan, as these may otherwise be difficult for loved ones or executors to locate—particularly if passwords or access details are unknown, or if cryptocurrency wallets are involved.
Security and access are essential, he noted, and individuals should consider appointing a digital executor with the authority and credentials necessary to manage or close accounts and handle digital property appropriately.
“The legal landscape surrounding digital assets is evolving quickly, but clear instructions in wills and trusts remain essential,” Goldburd said.
He added: “What’s stored in the cloud shouldn’t be left unresolved for your family. The law is still adapting to the digital age, so it is best to be proactive and clearly outline who receives what—whether sentimental or financial assets.”
A properly designated digital executor, equipped with instructions, passwords, and access details, can help ensure a smooth transition of digital property.
Goldburd concluded: “Consider what should be closed, preserved, or transferred after death. When planning your estate, speak with your attorney about digital assets, what is required, and what potential issues may arise. In many cases, a digital estate plan should be integrated into the broader estate plan.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Benjamin A. Goldburd
Email: Send Email
Organization: Goldburd McCone LLP
Address: 11 Broadway, Suite 1155, New York, NY 10004
Phone: (646) 663-8226
Website: https://www.goldburdmccone.com
Release ID: 89194818
If you detect any issues, problems, or errors in this press release content, kindly contact error@releasecontact.com to notify us (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). We will respond and rectify the situation in the next 8 hours.