The law is always slow to catch up with developments but this is particularly acute in the context of digital assets. As lawyers, we need to educate ourselves about what constitutes a digital asset and how we need to tackle them in the context of estate planning. It is only then that we can start to try to bring our clients up to speed. In this article, my colleague Laura Wallis and I consider how we should approach the digital assets conundrum and make some practical suggestions for PRs when faced with dealing with digital assets on death.
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Digital assets - how to deal with the gaping hole in our legislation
Properly educating clients so that they understand exactly what digital assets are, as well as the issues which arise when considering estate planning and the possibility of passing them on (or not) on death, is essential.