Category: Digital Assets
It has been nearly impossible for the family of the deceased to gain access to digital accounts in the past. However, there is some progress. In response to the problem of digital accounts of the deceased being accessed for an estate, some state legislators have slowly been passing new laws to permit access to digital accounts […]
If your children inherit your retirement accounts, they will have options about what to do with them. The Wills, Trusts & Estates Prof Blog discusses some of the options that heirs have when inheriting retirement accounts in “What Your Kids Can Do When They Inherit Your Retirement Accounts.” Most people designate their spouses as the […]
Families sometimes face a challenge because of federal law. A federal law called the Stored Communications Act can make it difficult for families to retrieve digital information when someone passes away, according to the Wills, Trusts & Estates Prof Blog in “Court Holds Personal Representative May Provide Lawful Consent Under Stored Communications Act.” The Stored […]
It is difficult for the legal system and people to keep up with the rapidly changing world of technology. The legal system has not been able to keep up with the fast-paced world of technology, according to Investment News in “Most estate plans aren’t dealing with digital assets properly.” Many people today are conducting business […]
Wisconsin is the latest state to take a close look at the impact of the digital world on estate planning. The digital age has had a major impact on every aspect of our lives, including estate planning – which was created at a time when paper and physical property ruled. The laws created at that […]
Apple executives refused to give Canadian widow Peggy Bush her husband’s password but following considerable publicity they went in a different direction. Canadian widow Peggy Bush received a lot of attention from the media when she ran into problems with Apple after her husband passed away and she inherited the iPad the two of them […]
Online communications is gaining importance not only in social lives but in financial lives, as well, as seen in recent cases. Requests for access to digital assets by families, executors and trustees are being made with more and more frequency. Sometimes access is requested to a social media account to assess the deceased’s state of […]
Nearly two-thirds of all Americans have a robust social media life, as well as an average of 25 online accounts, including social networking accounts, banking and financial accounts, according to a Microsoft study conducted in 2007. By now, those numbers may have increased. These digital accounts are now considered personal assets, and figuring out how […]
The digital afterlife is among many conversations that people can engage in when making end-of-life decisions. Ignoring or evading such talks for emotional reasons may have the opposite desired outcome in the end, and prevent loved ones from enjoying their limited time together. Have you considered how many digital accounts you have out in cyberspace? […]
19-year-old daughter Becky loved sharing her life on Facebook. When she fell terminally ill with a brain tumor, and lost speech and movement, her mother Louise would log in with Becky to help her stay in touch with her friends. Becky died in 2010 but Louise continued to access her account to feel close to […]
