Accounting for Digital Assets in a Prenuptial Agreement
Like any other type of asset, couples can choose to share digital assets with a spouse or can instead opt to keep those assets separate. However, in order to make this type of arrangement legally enforceable, a couple will need to enter into a pre or postnuptial agreement, which will lay out how digital assets will be treated in the event of divorce. Having this kind of agreement in place can provide clarity if a couple later decides to end their marriage, so if you are concerned about the fate of your digital assets after marriage, it is important to speak with an experienced Fort Lauderdale prenuptial and postnuptial agreement lawyer who can help you ensure that this issue is thoroughly covered in a legally enforceable contract.
What are Digital Assets?
Defining what qualifies as a digital asset can be difficult, as technology continues to evolve at an increasingly quick pace. There are, however, a few characteristics that these kinds of assets have in common. For instance, digital assets typically exist as data and are held on a digital storage drive or computer system and don’t always have a tangible quality, although they could have sentimental or even economic value.
Some of the most common digital assets that we encounter during divorce proceedings include photos, videos, and audiovisual media, as well as emails and computer files. Some digital assets, like family photos, only have sentimental value, while others, such as electronic accounts, intellectual property, stored media, and virtual currency have purely monetary value. Some digital assets even link to tangible property, such as online banking accounts.
Including Digital Assets in a Prenuptial Agreement
Prenuptial agreements are one of the best ways to decide how certain assets will be treated during a marriage and after the union has ended, either in divorce or death. These agreements can address a wide range of property, including digital assets. Often, these agreements involve making arrangements for which digital assets belong to which spouse. Alternatively, an agreement could:
- Regulate how assets are maintained during a marriage, including whether one spouse could be given complete control and ownership of a digital asset, while the other merely has access to the property;
- Inventory all digital assets, including financial accounts, email, and media storage;
- Assign a value to a couple’s digital assets; and
- Dictate how those assets are divided in the event of divorce, which could involve promising that the spouse who doesn’t receive ownership of an asset be compensated for his or her share.
Having this type of agreement in place can play a crucial role in giving couples the opportunity to discuss digital assets and avoid surprises down the line.
Accounting for Your Digital Assets
If you have questions about what will happen to your own digital assets upon divorce, please call experienced prenuptial and postnuptial agreement lawyer Sandra Bonfiglio, P.A. at 954-945-7591 today. A member of our legal team is standing by and eager to help you through each step of your case.