“What’s this “Digital Assets” language in your documents, and why does it matter? I’m not some king of Silicon Valley.” That’s an exaggeration of what I hear when a client reads about digital assets in a last will, revocable or living trust, powers of attorney, and the like. Here’s a concrete example of why they matter from New York: it was to get the decedent’s photos from the cloud. This will didn’t give specific powers to the executor to access the photos, and it caused a problem. As more and more of us are relying the cloud storage, this issue will continue to grow. Thankfully, lawmakers and tech companies are realizing the coming issue and are beginning to take steps. Read more here: https://www.jdsupra.com/legalnews/what-happens-to-my-digital-assets-on-82559/. If you’re worried about whether your estate plan takes potential pitfalls like access to digital assets into account, call or contact me today.
Post by Peter Harrison.