Increasing numbers of Pennsylvania residents possess digital assets. Some of them, such as digital photographs on a smartphone, might only have sentimental value, but other forms of digital assets could be worth quite a bit of money. An estate plan should include information about how to access a digital portfolio and assign a value to the assets.
Bitcoins, internet domain names, logos and digital music libraries present examples of potentially valuable digital assets. An online business without a physical location could be another form of digital asset. After a person dies, digital wealth needs to be included in the inventory provided to a probate court. These types of assets will also have to be listed on Form 706, the federal estate tax return form.