- August 19, 2020
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Thanks to Legal Tech Marketing for sharing my article, “Clearing the Clutter – Technology, Digital Property and Estates,” on their blog.
My article was in response to an excellent piece that appeared in Bloomberg Tax Insight – “Five Signs that Estate Advisors Aren’t Getting With The Digital Program,” from Sharon Hartung and Jennifer Zegal, two excellent sources.
“Five Signs…” takes the Trusts and Estate bar to task for failing to keep up with a changing world – one in which digital assets are equal in value and importance to traditional, tangible assets.
Most of the articles I’ve read on the topic of digital assets and estate planning tread so cautiously that they don’t leave footsteps. Let me go one further than “Five Signs…” and say that trust and estate attorneys who fail to address the digital asset today are failing their clients. They may are also putting themselves at risk of being sued by heirs and family members, when it’s discovered that Mom’s emails and digital files were left unprotected, lost or permanently deleted. Or, that Dad’s undeniably over-the-top number of URLS were worth hundreds of thousands, but they expired because they weren’t included in the estate plan.
The law is no longer unclear. RUFADAA (Revised Uniform Fiduciary Access to Digital Assets Act) has been adopted by most states. Attorneys need to get with the program, advise Hartung and Zegal. They are completely right.