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Is a prenuptial agreement necessary to protect digital assets?

| Nov 6, 2020 | Divorce |

Many individuals considering marriage worry that the assets they’ve accumulated as a single person will be blended and ultimately lost if divorce becomes a reality. Marital contracts such as prenuptial agreements exist to clarify assets brought into the union. But while assets might have historically referred to things like a house, car or business, more assets now reside in the digital realm.

With more and more of the world’s commerce and entertainment moving into digital spaces, individuals take significant time and effort to create online assets and collections. The prospect of marriage forces couples to consider what will happen to these digital assets in the future. A prenuptial agreement might be a good way to protect these assets, including:

  • Entertainment collections: Individuals devote much time and money into creating collections to be shared across various online viewing platforms. From music to movies to books, people might want to clarify ownership prior to a marriage.
  • Online stores: With so many people building online areas through which to sell merchandise, it makes sense to thoroughly describe this asset in a prenuptial agreement. After spending years cultivating a dedicated customer base on eBay, Marketplace or Craigslist, it is wise to protect your investment.
  • Cryptocurrencies and digital money: From cryptocurrencies such as Bitcoin to online currency such as gift cards, airline miles and store credit, these assets carry significant monetary value.

These assets can quickly become complicated during a marriage as both parties will likely begin both using and adding to the collection. It is wise to work before the marriage to ensure the digital assets you’ve cultivated remain yours. Having a prenuptial agreement in place can make the division of digital assets a smoother operation during the divorce process.