Ever wonder what happens to your Facebook page when you die?
Smart estate planning has never been just about physical assets. The law (at least in Delaware) is starting to catch up.
A well-crafted estate plan considers what kind of legacy someone wants to leave behind. For years, that has meant crafting a plan for someone’s physical assets; but increasingly, disposition of non-physical assets has become a problem.
For example, if a loved one dies and you don’t have her Facebook password, how would you shut down her Facebook page so that you didn’t have to deal with potentially painful reminders whenever you logged onto your own Facebook account? The laws on the books in many jurisdictions place a heavy burden on family members who want to gain control of a decedent’s digital assets.
Delaware, however, has passed laws making it easier for loved ones to take control of these digital assets. It’s an important step towards normalizing ownership laws in the digital age.