Getting Your Head Out of the Cloud: Digital Assets in Estate Planning and Estate Administration
It has become the norm to store personal tangible assets, such as documents, photographs or videos and financial or business records in the cloud or on a digital device or other software sharing platform. While going "paperless" can be beneficial, it does pose unique obstacles when trying to access digital assets and electronically stored personal information in the event of the death or incapacity of the owner. As a result, digital asset planning is now a critical component of any estate and business succession plan.
This timely and practical video-encore program will specifically familiarize Pennsylvania practitioners with the transitory nature of legislation which governs digital assets in 2019, allowing them to plan for the statutory change while also abiding by current federal and state laws.
The panel will:
• Define and identify "digital assets" and discuss how to create a digital assets inventory
• Explore ways to grant fiduciary access to digital assets upon the death or incapacity of the owner and when it would be appropriate to grant custody of these assets
• Discuss the steps in administering estates with digital assets
• Explore the ethical and other considerations involved when planning and dealing with digital assets, including appropriate precautions to safeguard an individual's digital assets and digital identity
• Discuss terms of service agreements for online accounts and the laws, regulations and tax notices which have been imposed to govern digital assets
Justin H. Brown, Esq., Pepper Hamilton, LLP, Philadelphia
Ross E. Bruch, J.D., Vice President, Brown Brothers Harriman, Philadelphia
Karen Fahrner, Esq., Heckscher, Teillon, Terrill & Sager, P.C., Conshohocken
Scott S. Small, J.D., Senior Vice President, Wells Fargo Private Bank, Philadelphia
Jennifer L. Zegel, Esq., Kleinbard, LLC, Philadelphia
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