Digital assets can be an important part of many people’s estates. Most people have some form of digital assets. Here are some examples of ordinary digital assets most people might have: Electronic-only bank accounts or brokerage accounts Passwords for access to credit card accounts Passwords for access to bank accounts and other financial accounts Log in information for Facebook or other social media Email accounts and passwords For most people the most important digital … [Read more...] about Digital Assets
Digital Assets
Your Clients Have Digital Assets – Whether You Like It or Not
Answer the following questions. Do your clients have online trading accounts? Are they signed up for paperless statements from any financial institutions? If so, they have digital assets, and they will need a plan for how their loved ones will deal with those assets when they’re gone, just like they have for the rest of their estate. Forget social media accounts or even email accounts – digital assets include so much more, now that many people do at least some of their banking, investing, … [Read more...] about Your Clients Have Digital Assets – Whether You Like It or Not
Speaks at Death
It is said that a Will only “speaks at death.” In this digital age, there is a way that you can literally “speak at death,” if that is your wish. In the past, I’ve blogged about digital assets and their protection on more than one occasion. On those occasions, I’ve blogged about putting powers in your traditional estate planning documents which grant your fiduciaries powers to deal with your digital assets. However, in this blog, I’d like to discuss something a little different. “If I Die” is … [Read more...] about Speaks at Death
The World of Digital Assets Becomes a Little Less Wild
I’ve written before about digital assets and the need to plan for them. What are “digital assets?” The term includes a whole host of matters, including electronic accounts, such as Facebook or email. I recently noticed that Virginia passed legislation giving personal representatives of minors authority over “digital accounts.” While the action by Virginia is helpful, there is a dearth of legislation in this area. It is sort of like the Wild West out there when it comes to digital assets. This … [Read more...] about The World of Digital Assets Becomes a Little Less Wild
Facebook as a Digital Asset
Facebook and other social networking sites are becoming an indispensible part of modern life. As the world shrinks and family members, friends, and business associates find themselves scattered around the country – or the globe – sites like Facebook, LinkedIn, and Twitter are quickly becoming a communication method of choice. Even attorneys who have yet to jump on the social media bandwagon have growing numbers of clients who are already on board, and it’s no surprise. These social networks … [Read more...] about Facebook as a Digital Asset
