Lackluster performance of private equity portfolios and tight funding for new commitments have made them more discerning about how they go about investing in PE, far more selective in their choice of general partners (GPs) with which they invest and increasingly assertive about the terms and conditions on which they are prepared to do business.

FORBES: Limited Partners Scrutinizing PE Fund Returns

That is why the U.S. General Services Administration recommends people set up a "social-media will, " review the privacy policies and terms and conditions of each website and stipulate in their traditional will that the "online executor" get a copy of the death certificate.

WSJ: What a Tangled Web We Leave