Techopedia defines a digital asset as property that exists entirely in an electronic format. Some of the most common examples include pictures, videos, websites and computer files. Digital assets come with property rights. A digital asset is essentially a form of non-physical property.
In the modern world, digital assets are increasingly important. Our lives have become ever more intertwined with technology. This has implications for family law and divorce. If you are getting married, it may be in your best interests to protect your most important digital assets with a prenuptial agreement.
Three Categories of Digital Assets
Digital assets come in a wide range of different forms. In some cases, these assets have significant commercial value. In other cases, the value of a digital asset is purely sentimental. If you are considering including digital assets in a prenuptial agreement, it is important to take an inventory of what you own and what is important to you. Digital assets typically fit into one of the following three categories:
- Electronic Property with Monetary Value: Certain digital assets have tangible economic value. The most straightforward example is Bitcoin — which is a currency that exists entirely in a digital form. Other digital assets with monetary value include business property and website domain names.
- Passwords and Access to Accounts: Your passwords and access to your accounts are also important digital assets. If you have important accounts online — from investment accounts to social media accounts ― you may want to consider protecting them using a prenuptial agreement.
- Other Digital Files and Data: Finally, some digital assets have substantial sentimental value. This includes things like photographs, home videos, family recipes, ancestry research and much more. Control over sentimental property can be protected with a prenuptial agreement.
How a Prenuptial Agreement Can Protect Digital Assets
Prenuptial agreements are used to protect specific property interests. As digital assets are a form of property, they can be included in a prenuptial agreement. Please note ― Texas is a community property state — meaning assets obtained during the marriage will be divided in a “just and right” manner in divorce, which can mean 50-50 or something different. If protecting digital assets is important to you, be sure to plan.
In Texas, a prenuptial agreement must be in writing and signed by both spouses. In Texas, defenses to prenuptial agreements are very limited, so prenuptial agreements are a good option to clarify property rights before a marriage. If you want to protect your digital assets with a prenup, it is imperative you consult with an experienced attorney.
Contact a Dallas Prenuptial Agreement Attorney Today
At Orsinger, Nelson, Downing and Anderson, LLP, our Texas family lawyers have extensive experience drafting, reviewing and negotiating marital agreements. If you have questions about protecting digital assets with a prenuptial agreement, we can help. For a fully confidential family law consultation, please contact us at (214) 273-2400. From our law offices in Dallas, Fort Worth, Frisco, and San Antonio, we are well-positioned to serve communities throughout Texas.