By Daniel Tannenbaum The growth of the Internet has brought about a lot of new terms associated with digital and death. This includes things like memory giving, digital assets and digital legacy. One thing that is not commonly discussed is the role of digital liabilities. For instance, we all have a lot of regular standing orders, […]
Privacy Matters. In fact, 4 out of 5 people believe privacy matters more than access to their accounts in the event of their death. It’s an important and necessary consideration for any estate plan. When it comes to our online accounts, we’ve come to expect a certain amount of privacy. It’s an expectation that people […]
For the average person making a will, the concept of “digital assets” and planning for the transfer of one’s digital life has simply not been on the will writer’s radar. Until now, that is.
The Uniform Laws Commission has released its final revision of the Fiduciary Access to Digital Assets Act, which was revised earlier this year in a compromise between the ULC and industry opposition.
McAfee recently released the results of a global digital assets survey and our digital devices hold an estimated $35,000 of value on average. Topping the charts are irreplaceable personal memories, photos and videos, at an estimated $17,065 in value. Additionally, 55% of respondents expressed they kept assets on their devices that are impossible to recreate, […]
At its annual meeting in Seattle the Uniform Laws Commission approved the work of its Fiduciary Access to Digital Assets committee on July 16th.
A CBS News Poll, conducted by telephone from April 16-20, 2014 among 1,017 adults nationwide, concluded that 40 percent of Americans sampled had created a will. Not surprisingly, age plays a factor. Among those 18-49 years of age only 22 percent have a will, rising to 62 percent for those 50 and older. By comparison, […]
Previously I’ve mentioned the need to solve the digital afterlife problem in a way that does not require advance planning. WebCease, a new service that finds and reports various digital accounts after the account holder has passed, does just that. The premise is actually quite simple. An executor or heir pays WebCease to research the […]
Over the last two years the Uniform Law Commission’s Fiduciary Access to Digital Assets committee has worked with companies, private organizations and industry leaders to craft a model act to incorporate digital assets into probate and trust codes. The stated goal of the committee is to “vest fiduciaries with at least the authority to manage and […]
Just what does happen to your digital life once you’re gone? As we’ve said here many times before, there’s no easy or simple answer to that question. But there is something you can do: plan ahead.