The role of, technology in our lives continues to increase. It plays a role in nearly everything we do. What businesses once did in person is now conducted online. And the information that people once stored in safes, fire proof cabinets, and safe deposit boxes is now routinely stored on computers or online. In many ways technology has made our lives easier. However, it has also made our lives in some ways more complicated and certainly created new challenges for both individuals and businesses.
Estate Planning Issues for a New Generation
Paper documents are becoming a thing of the past. Today, personal information is stored electronically, making data available 24 hours per day, 365 days per year as long as you have the correct user id and password. While this is great from an identity protection standpoint, it can make other tasks, such as estate planning, more difficult. More often than not, passwords are not written down, much less shared with other individuals. This lack of password information make it difficult to recover important information upon an individual’s passing, information that may be needed to properly administer the individual’s estate.
Estate Planning Tips for a New Generation
- Keep a record of your user names, passwords, and which accounts these log in credentials apply to.
- Provide a list of “digital fiduciaries.” These are the individuals who would take charge of your affairs in the event of disability or death. And be sure to specify in your estate plan that these digital fiduciaries have the authority to access your data.
- In your estate plan, be sure to indicate to whom your digital information, such as photographs or digital music, belongs.. This written designation, taking only a few seconds to record, will help avoid disputes.
- Review your estate plan with an experienced estate planning attorney.
If you have any questions about Estate Planning, please contact Offit Kurman co-founder and estate planning attorney Maurice L. Offit at 301.575.0308 or firstname.lastname@example.org. Mr. Offit has over thirty years of experience as an estate planning attorney, focusing on estate and trust administration, estate planning, and asset protection plans.
Offit Kurman Attorneys at Law: Estates, Trusts and Elder Law Practice Group
At Offit Kurman Attorneys at Law, estate planning is one of the most fundamental and important legal services we provide. The attorneys in our Estates, Trusts and Elder Law Practice Group are dedicated to the design, documentation, and implementation of high-quality estate plans for both individuals and families. Our estate plans help you, to the maximum extent possible, minimize the burden of gift and estate taxes and protect your assets from the threat of preexisting and potential creditors.
If you have any questions about Estate Planning, please fill out the contact form found on OffitKurman.com to access the sound legal guidance of our experienced estate planning team.. You can also connect with Offit Kurman via Facebook, Twitter, Google+, YouTube, and LinkedIn.