DCS founder and CEO Lee Poskanzer will be participating in a panel discussion on Digital Asset Planning and Cyber Security at the Essex County Estate Planning Council. Additional panelists include Chris Hawthorne, TGA Cross Insurance and Vincent E. Bonazzoli, Esq., Family Estate Planning Law Group.
Date: Tuesday, May 9, 2017
Time: 7:30am – 9:00am
Location: Spinelli’s, Route 1, Lynnfield, MA
Registration details and further information can be found at the Essex County Estate Planning Council website.
What are digital assets with reference to Estate Planning?
We’ve articulated at length what a Digital Asset is previously, but here’s a quick summary to help get your gears turning in the right direction:
Digital Assets are quite literally everywhere, and include things like all of your online accounts and the mass amount of content contained within. The average person has 130+ of these types of digital assets in online accounts, and on average a $55,000 value is housed in these assets. My! Times have changed! To think it was only just in ‘97 that the first social media platform ‘Six Degrees’ is said to have been established.
Why are talks like this important for estate planning professionals?
Although the law is catching up and making motions toward building a stronger legislative infrastructure to address the growing problem points around this topic, there remains an increasing gap in knowledge that demands answers. Recent legal transformations – such as the increasing number of RUFAADA state enactments or, adjacently connected changes such as the recently accepted use of electronic wills in Florida – are providing many of these needed answers. However, such changes are also proving to deepen the complexities surrounding the topic and the need for authority solutions.
Estate planning professionals absolutely need to understand what digital assets are and how to manage them when dealing with their clients. The digital space is constantly evolving, with the growth of biometric account access alone acting as a massive game changer. Laurie Segall of CNN recently ran a segment driving home the importance of dealing with digital assets – deeming Facebook to soon be the largest digital graveyard to date. These transformations will continue to demand an understanding of how to best prepare for the digital afterlife and DCS is here to provide those solutions.
Lee Poskanzer speaks regularly offering insights and advisory to estate planning professionals and their clients on the management of digital assets directives.
Interested in booking Lee to come and speak with your team? Get in touch!
Stay informed on how to best prepare your clients for the management of their digital estate.