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Michigan Lawyers Weekly featured a guest column about digital assets written by Levine & Levine’s Managing Partner Sharan Levine.
In her column published in Michigan Lawyers Weekly on Aug. 13, Levine writes:
“People who own digital assets fall under the umbrella of ‘Content Creators,’ which are monetized in different ways. These include YouTubers, bloggers, influencers, gamers, and streamers. Advertisers pay YouTubers to place ads on their sites and videos, or on the company whose product is used by the YouTuber or influencer.
“For instance, if a person models a clothing brand or shows how to apply makeup using a specific cosmetic brand, then these people are typically paid by royalties or by the company for products sold through the website,” Levine continued. “Video streamers on Twitch, a live web-based streaming video platform, get paid by selling their products or by the number of subscriptions sold on Twitch.
“However, if that person were to die, someone needs to be able to have control of the asset in order to continue collecting the revenue. Many young adults do not realize the existence of an asset value nor the need to delegate a person to obtain authority over the asset in the event of their death or disability.”
Levine elevates the conversation about how digital asset management is becoming an increasing concern in today’s digital age:
“This issue is one of several issues regarding digital asset management. Increasingly, another concern involves maintaining or closing social media accounts associated with a loved one upon their death,” she said. “Some people want their accounts closed down immediately, while others have gathered genealogical history, photos for family, and other significant information that they want others to share.”
Read Levine’s guest column in its entirety in Michigan Lawyers Weekly, here.
Levine also penned a more personalized blog post about this subject, which can be read on the Levine & Levine website.