Estate law is important to everyone because it provides reliable methods for ensuring your assets are distributed according to your wishes. In fact, there are rules for distributing every type of asset from hard cash to real estate. This is also true of less tangible assets, such as digital ones, and knowing how these types of property are handled will help you determine how you pass them on.

What Can Be Included in Your Will?

Under estate law, any asset that has monetary value, or any asset that is tangible, can be distributed via a will. The other stipulation is that there must be a way to verify your ownership of the item. This includes funds that are held in an online account, such as PayPal®, as well as funds that are payable to you from an online commercial website, such as Amazon® or eBay®.

You can also use your will to deal with digital content that’s stored online or on your computer. This will include photos and videos that you legally own, as well as any music. In some cases, you may also be able to pass on your frequent flyer miles to a beneficiary. If you own intellectual property, such as a website or original copyrighted material, you can include these items as well.

What Cannot Be Included in a Will? 

There are some digital assets that can’t be defined as having monetary or tangible worth, so they cannot be passed on to others in a will. Your attorney can provide you with a better understanding of how this law applies to specific items, but, generally, items you don’t own fall under this category. While you may think you own these digital assets, user agreements and licenses specify that a third party retains ownership and that you are only an authorized user.

For example, you cannot transfer ownership of your social media accounts. The social media company owns the site and only allows you to use the site, so your account cannot be legally transferred to another. For similar reasons, subscriptions to streaming services and financial software cannot be included in a will. If you’re uncertain about a specific digital asset, you should ask your lawyer to explain how the law deals with that type.

When you need to work with a legal professional experienced in estate law, contact Schaller Campbell & Untied Attorneys. The firm has over 114 years serving the legal needs of clients in the Greater Columbus, OH, area, and their attorneys give each client conscientious and personal attention. To learn more about their areas of practice, visit their website. To schedule an initial consultation, call (740) 349-8505.