So you’ve acquired some Digital Assets from trading, and want to pass it on to someone else in your will. You might be wondering if it’s a hard process, or if it’s even possible. Don’t worry; it’s something that can be done, and the process is quite similar to any other asset in your will.
You’ll be relieved to know that currently, there is no specific rules or legislation for the inheritance of digital assets. In short, you can treat them like any other asset in your will. However it’s a good idea to take some extra steps to make sure that they are passed on to the intended beneficiaries.
Like any other asset, make sure you include specific provisions regarding your digital assets. That means you should list down which specific asset should go to which person, list down the percentage of division if any, etc. Try your best to be as detailed as possible; leave no room for guesswork.
You could appoint a digital asset executor for your will. This person would be responsible for your digital assets, and will make sure they distributed correctly. It’s a good idea to pick someone who is knowledgeable and familiar with digital assets.
A good practice is to make sure your digital assets are properly organized and documented. You can do this by creating a list of all your digital assets, including your account credentials or any other security measures. This will make it easier for your executor to distribute your assets.
A Comprehensive Will from Koha offers the option to include digital assets in your will. It covers all the steps mentioned above, so consider it if you have digital assets that you want to pass on.