It is quite possible to observe that the digital gaming industry has grown very rapidly, especially in recent years. In direct proportion to this, the value of gamers' digital assets continues to increase. Examples of these digital assets include game items, rare digital collectibles, or crypto-based gaming assets and valuable accounts. People have started to use them as an investment tool in addition to traditional investment methods. But is the legal aspect of this situation sufficiently considered? What happens to these assets if the player holds such investments and there is a death?
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What is Digital Inheritance
The concept of traditional inheritance may have a slightly different meaning than the concept of digital inheritance. When people think of traditional inheritance, they may think of real estate, bank accounts and physical assets. But the reality of these digital assets should not be overlooked, and these digital legacies can include gaming accounts, in-game currencies and digital items, NFTs, cryptocurrencies that can be used in games, or sponsorship revenue from e-sports players. In order for these assets to be protected and included in the estate plan, players need to find a suitable New York will lawyer.
Transferring Gaming Accounts and Assets to Heirs
In the event of any death, a will must be prepared. In this will, in addition to the classical concept of inheritance, digital assets should not be forgotten. However, if we look at the user agreements of gaming platforms, some of them state that these accounts are non-transferable. This means that if a player passes away, it can be difficult to transfer their account to their heirs.
Platform Rules and User Agreements
Different platforms have different policies about this matter, but other platforms, such as Steam, do not allow users to transfer their accounts and have very stringent guidelines regarding this matter. In addition, brands such as Epic Games and PlayStation have the same policies.
Legal Exposure
There is no definitive stance on the inheritance of digital assets, and the regulations that are now in place are frequently directly tied to the conventional idea of inheritance. People are left with a great deal of questions as a result of this. Players have the ability to learn how to secure their digital assets or how to transfer them to other people if they employ the services of the appropriate attorney.
This is Where the Role of Probate Lawyers Comes In
Even though the current legal process usually involves traditional methods of inheritance, lawyers can draft a custom will. In this process, they create specific legal documents to ensure that the digital assets owned are best managed and passed on to predetermined heirs. In addition, they also manage the passwords by which an individual can access their gaming accounts and digital wallets, as well as scheduling access. And finally, what they do. In fact, they will inform and guide the family on the management of digital inheritance.
