Leaving Behind Digital Assets As Inheritance In Will / Estate

When a person dies, their assets will be distributed according to their will, or if there is none, then under statutory law.¹ Most people will include in their will:

1. Bank accounts and cash;
2. Stock/share portfolios;
3. Real estate;
4. Vehicles; and
5. Luxury watches, jewelry, or other assets of value.

However, an often-overlooked class of assets is digital assets. This class includes:

1. Stored value or money held on platforms such as PayPal, Amazon, InstaReM, YouTrip, etc;
2. Digital Payment Tokens such as cryptocurrency;
3. Non-Fungible Tokens ("NFTs");
4. Frequent Flyer Miles and other reward points balances.

Generally, assets which are not specifically provided for in the main terms of a Will are covered by the residuary clause of the Will, under which any and all property not specifically gifted to beneficiaries is given to specified beneficiaries in specified shares.