Most Americans hold a variety of assets and information digitally, and this has become a crucial issue for estate planning. Not only are valuable assets such as PayPal balances, cryptocurrency, bank and brokerage accounts, and software licenses maintained online, assets of practical or sentimental value may also only be accessible digitally, like photos, music, and contact lists. In addition, there may be memberships and subscriptions that continue to automatically renew after the decedent’s death and automatic bill payments that will unexpectedly deplete bank accounts or charge credit cards. It is impossible to properly protect and handle an asset that nobody knows about or has access to. For all of these reasons planning for digital assets has become something everyone needs to consider. Join business law attorney Charles Borek, Special Counsel to Elville and Associates and Founder of The Borek Group, LLC, for a discussion regarding “Protecting and Dealing with Your Digital Assets.” After this session you will be able to:
— Distinguish between ownership and access revealing some surprising realities
— Recognize federal laws that have an impact on planning for digital assets Identify the three different types of state laws affecting digital assets
— Determine the steps necessary to properly plan regarding digital assets
— Choose the correct method to document your digital assets
— Select the proper fiduciary to handle your digital assets and the powers to grant