Directive Communication System’s Lee Poskanzer was pleased to be a special guest speaker at the annual Successor Trustee Seminar presented by the Strauss Attorneys law firm in its Hendersonville, North Carolina office. The firm has embraced the importance of digital estate planning, offering their clients the DCS platforms to ensure that their digital property is properly prepared for in their estate plans.
Digital assets in estate planning present two key problem areas for planning and administration:
- Identifying existing accounts and property AND gaining access to data necessary to carry out administrative duties and,
- Advising clients to use password sharing to gain access and control of digital assets that can result in failure, risk (vicarious liability, ID theft) and financial penalties.
Most Americans have more than 170 digital accounts. They include the obvious, like emails, social media, photo sharing sites, Amazon, Gmail and financial accounts. Add to that sites for social media, cloud-based storage, online gaming, online gambling, cryptocurrency, and a world of secret, or “hidden” sites that only the users know. What happens to these accounts and property when they die?
Andy Strauss, founder of the Strauss Attorneys estate planning firm, integrated DCS into the law practice to protect clients now and in the future. Strauss Attorneys clients are among thousands of Americans who use DCS to manage and secure their digital assets as part of their estate plan.