Once a nonfungible token (NFT) trader dies, their digital collectibles may be forever lost in the blockchain if they do not have a handover plan. Because of this, lawyers believe that it’s best to craft a way to pass on their assets in case of death.
From a legal standpoint, creating an estate plan, which is simply arranging the management and disposal of properties in preparation for future incapacity or death, seems like a good approach. Jaime Herren, a wealth services lawyer, told Cointelegraph that this might be the best step that NFT owners can take to make sure their NFTs are passed on to their loved ones after death. Herren explained that: