The Internet has generated a new set of assets know as “digital assets.” Broadly defined, a digital asset is an electronic record in which an individual has a right or interest. This definition erroneously implies that digital assets should be treated as a legally equivalent set of assets when, in fact, failure to differentiate digital assets into one of three distinct classes will result in legal difficulties.

• The first class of digital assets is contained on a device that is in the owner's control. Usually, this device is a computer or storage device. Class-one digital assets include e-mails, software, content and data stored in tangible property, typically a decedent's home computer.

• A second class of digital assets are access rights and use rights to Internet assets located in a computer or other storage device owned by a person other than the digital asset owner. Class-two digital assets are e-mails, software, content and data stored in tangible property on a third party's computer or other tangible property.