As we kick off 2025, it’s the perfect time to reflect on how technology impacts every area of our existence especially when creating our estate plans. Traditionally, estate planning focused on tangible assets like homes, bank accounts, and personal belongings. But with the rise of digital assets—ranging from social media accounts to cryptocurrencies—there’s a new layer of complexity to consider. Our team at 23 Legal helps you navigate digital estate planning changes to safeguard your legacy.
Have you ever wondered what happens to your online presence after you’re gone? Your digital assets hold equal value to your physical property whether they exist as social media pictures or investments in digital currencies.
The 2025 survey reveals that over 70% of adults own digital assets but only a small number include them in their estate planning. When you skip this important step your family members will face difficulties understanding your assets and may lose money.
The reality is that nearly every aspect of our lives today is tied to devices, networks, and the digital footprint we’ve built. Digital assets need equal attention in planning as physical assets do. That’s why we’re here to help. Our team will guide you through digital estate planning to ensure your complete legacy matches your intended preferences.
What are Digital Assets?
Digital assets include all virtual holdings that have value regardless of being physical possessions. Digital assets have become fundamental to living in our digital-first society so they must be included in present-day estate planning. Here’s a closer look at the various types of digital assets you may own:
- Online Accounts: Email accounts, social media profiles (e.g., Facebook, Instagram, LinkedIn), and cloud storage services (e.g., Google Drive, iCloud). These digital platforms serve as permanent storage for our memories, business partners, and private records.
- Cryptocurrencies: People store Bitcoin and Ethereum digital assets alongside other blockchain-based currencies in their digital wallets. People see cryptocurrencies as valuable financial assets because they are now widely used throughout society.
- Digital Media: Purchased music, movies, eBooks, and online gaming accounts, such as those on platforms like Steam or Xbox Live.
- E-Commerce Stores: Digital stores on Shopify, Etsy, and Amazon give sellers ongoing business income and store product and sales information.
- Intellectual Property: People own digital platforms including websites and blogs together with online stores and their intellectual property assets. The assets create income through royalties and possess important personal or business value.
- Membership Accounts: Subscriptions to services such as Netflix, Spotify, or online fitness programs, often linked to ongoing billing or shared usage by family members.
Emerging Types of Digital Assets in 2025
The digital landscape is constantly evolving, giving rise to newer categories of assets:
- Cryptocurrencies and Tokens: Tokens built on blockchain technology now let investors trade and secure assets beyond regular cryptocurrencies.
- Non-Fungible Tokens (NFTs): You own a special digital item because its ownership data exists on blockchain technology.
- Tokenized Real Estate: A revolutionary system that turns physical commercial assets into digital tokens that people can purchase and trade as part of real-world investments.
In 2025, the sheer variety and value of digital assets make them an essential component of modern estate planning.
The Growing Importance of Including Digital Assets in Estate Plans
Digital assets now play an essential role in our everyday lives and our estate management. The way we use digital tools for everything today makes including digital assets in estate planning both necessary and recommended in 2025.
The Digital Revolution Worldwide
- The global digital asset market is projected to generate $46.3 billion in revenue by 2025, with the United States alone contributing $9.6 billion to this total.
- By the end of 2025, the average revenue per user in the digital assets market is expected to reach $53.8, with 865 million users worldwide actively engaging with digital assets.
- The digital estate planning services market, valued at $246 billion in 2023, is forecasted to grow to $350 billion by 2032, with a 6% CAGR between 2024 and 2032.
Digital assets now account for a significant portion of the global economy which means they should be fundamental elements in estate planning.
Incorporating digital assets into your estate plan ensures:
- Peace of mind: Your instructions are clear while your family members receive access to your digital accounts.
- Financial security: Our digital assets of high worth are handled correctly and passed on to the right recipients.
- Reduced legal hurdles: A properly written plan simplifies the process of obtaining assets during probate and retrieval.
Laws and Regulations You Need to Know About
The rules that govern digital assets in estate planning remain under development because this topic emerged recently. Here are key regulations and frameworks to keep in mind for 2025:
- Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA): Under RUFADAA most U.S. states including Illinois permit users to grant access rights to their digital assets through their fiduciaries. Under this law managing digital accounts after death becomes simpler when a person permits their estate planning documents.
- Electronic Wills and Digital Estate Planning: The Illinois Electronic Wills and Remote Witnessing Act demonstrates how electronic will now meet our changing requirements. Under Illinois law electronic wills need to follow special requirements when people sign and witness them. Under this law, the testator must sign the document electronically while two witnesses located in the U.S. observe the process and securely store the document. This legislation shows how digital technology now helps with estate planning but e-wills remain separate from digital asset planning. E-Wills manage the transfer of physical and real property assets. Digital Estate Planning deals with personal digital assets including social media accounts blogs and cryptocurrency storage.
- Platform-Specific Policies: Every online platform features its own rules about what happens to accounts after someone dies. For instance:
- Facebook allows you to designate a “legacy contact” to manage your account.
- Google offers an “Inactive Account Manager” feature to specify who can access your account.
- Cryptocurrency Regulations: The cryptocurrency systems of Bitcoin and Ethereum require special handling. Users store their digital assets in private key-protected wallets that exist across multiple platforms. When someone dies and their keys to cryptocurrency cannot be found or documented it becomes permanently inaccessible. To protect your valuable digital assets you need to use hardware wallets and make sure your estate plan contains clear directions.
- Intellectual Property Rights: People who make content and run digital businesses depend heavily on intellectual property rules. Digital estate plans must handle legal ownership of digital property including copyrighted work to keep these assets safe during transition.
How to Manage Your Digital Assets with 23 Legal
Effective management of digital assets involves several steps. Here’s a guide to get you started:
1. Take Inventory of Your Digital Assets
Start by making a complete list of your digital accounts with details of their assets and worth. List all your digital assets completely by recording every account you use such as social media and financial platforms. Group your digital accounts for better control.
2. Secure Access Information
Keep a record of account usernames, passwords, and security details for every account. Secure password managers help you keep digital data safe when you share access with your chosen executor or a trusted person.
3. Specify Your Wishes in Your Estate Plan
Clearly outline how you want your digital assets managed, transferred, or deleted. Let an estate planning attorney like Ben Weaver help you add these details to your will or trust.
4. Designate a Digital Executor
Although digital executor laws vary across states you can make the digital asset transfer process smoother by choosing someone to manage your digital assets. They should know about technology and maintain your trust.
5. Utilize Online Tools
Use platform features to create account management systems that activate when you become unable to use them. Users benefit from Google’s Inactive Account Manager and Apple’s Legacy Contact services.
6. Regularly Update Your Plan
Digital landscapes change rapidly. Regularly check your inventory of digital assets alongside updating passwords and estate planning documents to keep everything correct.
Why Work with Expert Estate Planners at 23 Legal?
Managing digital assets demands professional knowledge about the future. Our team at 23 Legal designs customized, comprehensive estate plans to manage our clients’ physical AND digital assets – leaving nothing in the dark. Here’s how we can help your family be prepared:
- Customized Solutions: Our service creates personalized estate plans that include every asset you own including digital and physical items.
- Legal Expertise: Our team knows digital asset rules well and helps clients follow them to avoid trouble.
- Ongoing Support: Estate planning remains active throughout your life. Our team exists to help you navigate changes in your assets and legal system.
Planning for the Future Starts Today!
Digital asset management will remain essential in modern estate planning. You need to plan to protect your digital investments and maintain your digital legacy while securing the future for your loved ones.
Even though technology simplifies estate planning, it cannot replace the expert guidance of experienced & trustworthy attorneys that have your best interests at heart. Our team at 23 Legal assists clients in making difficult choices about digital assets plus tax optimization while following state regulations.
Ready to take the next step? Reach out to expert estate plan lawyer Ben Weaver at 23 Legal to start planning your estate. Make 2025 the year you achieve total confidence that your legacy is safeguarded.
Here’s to a future of thoughtful planning and lasting impact!
Accomplish your real estate goals with 23 Legal: (847) 447-6004
Why Choose 23 Legal
23 Legal offers Real Estate and Estate Planning legal services to individuals, families, community associations and small business owners throughout Chicagoland. We know how intimidating “the law” can be. In fact, when most people think of law offices, they think of stuffy leather chairs, huge wooden desks and pompous lawyers who charge outrageous fees. That’s not us! We believe in 1-to-1; the same lawyer should work with you all the way through. Whether you have an estate planning issue, family trust concern, or you have a legal problem in regard to a new home, business, real estate or remodel, you need a lawyer who cares. That’s where Ben comes in! We are great listeners; more than that, we are lawyers who believe that our clients always come first.
