These are among thousands of emotional, humorous, sometimes snarky requests inserted into published obituaries, attributed to the deceased or their families. And though complete strangers have always been among the audiences for messages from beyond the grave, digital death notices mean they now reach far beyond family and friends to people around the world.
“It takes just one funny, unusual or touching line for an obituary to go viral,” said Katie Falzone, director of operations for Legacy.com, which compiles and archives death notices.
That was the case last month after the death of staunch Republican Larry Upright of Kannapolis, North Carolina, whose obituary ended with the line: “The family respectfully asks that you do not vote for Hillary Clinton in 2016. R.I.P. Grandaddy.”
That bit of stumping won national attention and all kinds of comments on the funeral home’s website and on social media. News accounts were tweeted, retweeted and referenced on Facebook and viewed on YouTube tens of thousands of times.
“We got some sweet responses and we got some nasty responses,” said Upright’s wife, Colleen. “But we’re Uprights, and that just rolls off our backs.”
There have been other politics-oriented dying requests in recent years: to vote for George W. Bush and to support his removal from office; to donate to President Barack Obama and to support “anyone but Obama”; to vote Democratic and to support the tea party.
After 24-year-old Molly Parks of Manchester, New Hampshire, died last month from a heroin overdose, her obituary also spread through cyberspace, fueled by the brokenhearted pleas of her father.
“If you have any loved ones who are fighting addiction, Molly’s family asks that you do everything possible to be supportive, and guide them to rehabilitation before it is too late,” he wrote.
Most of the requests from the dead have to do with the ceremonies of death.
Bob Harrar of Orlando, Florida, who died in December, put these instructions into his obit: “Make sure you don’t give my ashes to my mother. She’ll put them in a drawer with my grandparents.”
Milton Miller of Little Rock, Arkansas, left word that anyone feeling sad about his passing should “mix a beverage of your choice and hum the Razorback fight song.”
Garland Babcock of Anchorage, Alaska, left very specific instructions to have his ashes “put in an old trucker’s Thermos and driven in a red Chevy truck to Monterey Bay, California.”
And the obituary for Larry Sajko of Port Richey, Fla., said, “Larry requests no cellphones at his service.”
When Christian “Lou” Hacker died last month in Valatie, New York, his obituary said he left behind “a hell of a lot of stuff his wife and daughter have no idea what to do with.”
So they told readers, “If you’re looking for car parts for a Toyota, BMW, Triumph, Dodge or Ford between the years of about 1953-2013, or maybe half a dozen circular saws, still in their boxes with the Home Depot receipts attached, you should wait the appropriate amount of time and get in touch.”
Hacker’s wife, Mina, said this past week that the invitation was “mostly a joke and no one has taken us up on it.”
“Actually, it will take us a while to decide what to do,” she said. “Everything is attached to a memory.”
When “in lieu of flowers” appears in an obituary, it typically requests donations to a favorite charity of the deceased.
But it’s also been attached to a variety of strange requests.
“In lieu of flowers, tune up your car and check the air pressure in your tires — he would have wanted that,” read the 2011 obituary for B.H. Spratt of Ponte Vedra Beach, Fla.
And these:
“In lieu of flowers, the family asks that if you smoke, try quitting at least one more time.”
“In lieu of flowers, if you knew ‘Bud,’ he would want you to mix yourself a Manhattan.”
“In lieu of flowers, buy a lottery ticket. You might be lucky.”
Thomas Taylor of Durham, N.C., was apparently hoping to get some money back after his death. Taylor died in 2008, nine years after making his funeral arrangements.
His obituary said one of Taylor’s last requests “was to contact the Cremation Society to ask for a refund because he knew he weighed at least 20 percent less than when he paid for his arrangements.”
AP news researcher Rhonda Shafner contributed to this report.
Consider for a moment how much your daily activities have an online component? From banking and bill paying to multiple email accounts – if something were to happen to you tomorrow, would your fiduciary have the necessary access to handle your password-protected and often encrypted digital life?
What exactly does this term “digital assets” entail and how is it relevant to estate planning? As technology has become embedded in most aspects of our daily lives, you may be hard pressed to think of someone who does not have at least some online presence and/or digital property. The term encompasses email, social media and other online accounts; digital photos, downloaded music and other files stored on the cloud. It also entails valuable content stored on personal devices and, maybe even in some cases, blog content and valuable domain names. Essentially, the term “digital assets” refers to intangible assets with sentimental value and perhaps even financial value.
Current & Proposed Law
The disjointed laws around fiduciary access to digital assets further muddy this already cloudy area of estate planning. Understandably, laws in this area have not kept pace with technology and its ever-increasing role in our daily lives. Privacy, copyright and intellectual property laws intersect with federal and state law on the matter resulting in confusion as to legal authority over a decedent’s digital assets. While a handful of states have passed some clarifying laws, the governing law in most cases dates back to 1986 regulations on unauthorized access of computer hardware and stored devices. Certainly these lawmakers could not have imagined how integrated our digital and daily lives would become. Furthermore, procedures for handling decedents’ accounts are often addressed in individual provider Terms of Service agreements and can vary dramatically by provider. As we hurriedly click through and accept new terms of service, do we have any idea what will happen to our email or social media accounts upon our deaths?
To rectify the situation, a national committee of attorneys appointed by the Uniform Law Commission is currently drafting proposed legislation to be known as the Fiduciary Access to Digital Assets Act. The primary purpose of the Act will be to grant fiduciaries (executors, trustees and agents under power of attorney) the power “to access, manage, distribute, copy, or delete digital assets and accounts.” The committee is attempting to work through the inherent difficulties in balancing the effectiveness of the Act from a practical perspective while respecting constitutional privacy laws.
How Does It Impact Me?
In the meantime, what should we do? First, identify your digital assets. Some experts recommend storing this “inventory” in an encrypted file with instructions for accessing the file kept securely with your original estate documents or in a safe box. Second, think about access to these assets after you are gone. Do you want your executor to be able to access your personal accounts? Would having access to your online accounts provide ease of administering your estate? Would your family and close friends find comfort in accessing your online photo archives? Some companies have begun offering digital “afterlife” services such as EstateAssist.com, the Legacy Locker and Data Inheritance. In spite of the possibility of inherent security and viability risks with such providers, they may offer a better alternative to the often out-of-date and unsecured password sheet many keep in their desks. Another alternative, if utilizing a password manager program such as Dashlane for PCs or 1Password for MACs, is to keep log on credentials to your password manager in a safe box. Additionally, many attorneys advise specifically granting your fiduciary the right to manage – access, control and delete – digital assets in estate planning documents. These steps may not be a panacea until the laws evolve; but they’re likely to increase ease of estate administration while also demonstrating testator intent with regard to these assets.
With access, a fiduciary will be able to more effectively distribute, memorialize or eliminate the digital assets as appropriate. In some cases, eliminating accounts can be an important deterrent for identity theft. Sadly, it is not beyond identity thieves to exploit the identities of the deceased.
The importance of planning for digital assets will only continue to grow as our reliance on technology increases. As with most estate planning, the most effective approach is to plan ahead. If you are interested in additional practical information on this topic, we recommend Your Digital Afterlife by Evan Carroll & John Romano.
It is worth noting that even where estate documents grant fiduciary access to electronic and stored communications, the fiduciary may still be in violation of privacy and fraud prevention laws as well as individual terms of service agreements until more current laws are enacted. However, there are no reported cases of the Department of Justice or a state prosecuting a fiduciary for unauthorized access to a deceased or disabled’s digital access. Nonetheless, the threat of criminal penalty does exist and experts predict it’s an issue that may end up in the courts.
Resources:
Carter, “Pixar for Estate Planners,” ACTEC Presentation to the Wake County Estate Planning Council, November 2014
Bissett & Kauffman, “Surf the Evolving Web of Laws Affecting Digital Assets,” 41 Estate Planning Journal 4, April 2014
Prangley, Haller & Coventry, “Web of Estate Planning Considerations for Digital Assets,” 40 Estate Planning Journal 5, May 2013
Jennifer Jones is a Trust & Estate Advisor at TrueWealth, LLC, a wealth management firm located in Atlanta. She has over 13 years of experience in tax and planning, combined with experience in trust administration. She can be reached at jjones@truewealth.com or 404.487.0518.
This communication is not intended as accounting, tax or legal advice and is not a substitute for an opinion from your tax and legal advisor on specific issues applicable to you. Please consult with your CPA for specific guidance on your personal planning and an attorney for legal advice. You may elect unilaterally to follow or ignore completely, or in any part, any information, recommendation, or advice given by TrueWealth Management and its affiliates.
It’s a fact of life that we’re all going to die at some point. While it’s not something you probably want to think about, you can make things a lot easier on yourself (and your family) if you get everything in order now. Here’s what you need to do.
Your inevitable demise is hopefully not on your mind too often, but it’s still something you should think about long enough to get everything in order. Doing so ensures that everything in your life is organized so others can see what you want to happen after you’re gone, what you own, and how to handle a variety of situations.
If this sounds daunting, don’t worry too much: being unmarried, without children, and without a useful asset to speak of, I was able to get everything in order in about two hours (I still had a lawyer friend double-check everything to ensure I wasn’t accidentally giving my dog medical power of attorney). The more you own the longer it’ll take, but it’s not nearly as time-consuming as it looks because most of this stuff you probably already have ready to go.
Note: You can do a lot of this stuff on your own, but it’s a good idea to speak with a lawyer about your will, assets, and general estate planning. This guide is meant more to get you acquainted with terms, provide DIY options when applicable, and help you collect together what you need.
Decide What Happens After You Die
Planning for your death is actually two things: what happens after you die, and what happens if you’re ill and unable to handle decisions yourself. Let’s start with taking care of what happens after you die, starting with your last will and testament.
Write Your Last Will and Testament
Your last will and testament is a document that designates what happens with your property, guardianship of your children, and names the person (executor) who carries out your wishes after you die. If you don’t own a lot of property, a simple will is likely all you need.
It’s possible to draft up a simple will on your own, but it comes with its own set of pros and cons. These include problems with outdated information, specific state related tax issues, and how they handle specific trusts. As USNews notes, online wills are a one-size fits all solution, that can’t always account for the complicated situations of real life. However, if you only need a very basic will SmartLegalForms, LegalZoom, or RocketLawyer all provide a simple template for doing so for between $15 and $80. These laws and requirements change often, and if you don’t do it right you might unintentionally give someone more power over your estate then you want. Most simple wills have just a few sections where you can say what happens to your assets, and designate who gets any property you own.
When you’re drafting up your will, you’ll also name your executor. After you die, this is the person who handles your estate (all of your property), finances, debts, and everything else. It should go without saying this is a person you would trust to handle your estate when you’re alive. Once you die, a probate court will officially give power to your executor to handle your affairs. They do not have control over your estate until after you die.
Finally, to make the will legally binding, you’ll usually need to get signatures from at least two witnesses (who aren’t beneficiaries listed somewhere on the will), and it’s advisable to get it notarized by a notary public. You can usually find a notary public at your bank, and they act something like an official witness for legal forms.
If you have a lot of assets that you want to designate to multiple people, or to make sure your will is legally sound, you should speak with a lawyer about getting a more advanced will written up. Things start getting really tricky when finances are involved, and if you have a lot of assets it’s worth at least consulting with a lawyer (if you need help finding a reputable lawyer here’s our guide). I spoke with lawyer Elizabeth D Mitchell of Ambler & Keenan, LLC about the basics of what you can expect from an estate planning firm:
I usually start people out with a form and have them think about who they would name as their power of attorney. From there, we’d look at their assets and arrange for special circumstances. It’s important to remember that estate planning isn’t just what happens after death, it’s also about what happens if you’re incapacitated… What I always tell people is that it costs more to clean up a financial mess afterwards then it does to plan ahead.
Mitchell also adds that although it takes a little time to get everything in order, most estate planning lawyers offer some type of free consultation before they into your plan. This is because once they set up a plan with you, you’ll be dealing with them for the rest of your life so it’s important to know exactly what you’re getting into. Mitchell also recommends people at least speak with a lawyer about writing up their will even if they don’t own a lot of property because it’s possible a single mistake could mess everything up. As the New York Times points out, the law is different in every state, and something as minor as not declaring the document a will out loud will make it invalid in certain states. A lawyer is also handy to set up trusts so your family gets paid out. According to the Wall Street Journal, trusts are increasingly important:
Rick Law, founder of estate-planning firm Law ElderLaw LLP in Aurora, Ill., says estate planners increasingly recommend revocable trusts in addition to wills, since they are more private and harder to dispute. “Every will is like a compass that points toward the closest courthouse,” he says.
A revocable living trust can be changed anytime during your lifetime. After you transfer ownership of various assets to the trust, you can serve as the trustee on behalf of beneficiaries you designate. Provided you do so, there aren’t any ongoing fees.
That said, if you don’t own that much, or you don’t mind leaving it all to one person, the whole process of writing out your own will takes about 20-30 minutes. Photo by Ken Mayer.
Outline the Funeral or Memorial Service
Obviously this step is optional, but if you want something specific to happen at your funeral or memorial service after you die it’s a good idea to get it in writing, and let your family know your wishes. Doing so gets rid of the headache of planning for your family, and ensures you get what you want. You don’t need to go in and plan everything out, but here are a few things worth considering:
If you want a burial, you need to find a grave plot. You’ll need to contact a local cemetery and purchase a plot if so. If you want a specific cemetery or plot, the earlier you do this step the better.
If you want cremation, you’ll work with a funeral director, so contact a local funeral home and arrange any details with them.
Decide if you want to pre-pay for any arrangements so you don’t have to worry about your family paying for anything while they wait to get access to your money. Since the average funeral is around $6,500, so it might be helpful to pay ahead of time.
At this time, you can also decide if you want anything specific in a memorial service, how you want the wake handled, and everything else. It’s also common to add these details to the will if you want to make sure your wishes are followed. Obviously this is a very personal event, and what you want depends a lot on your religious and social background. It’s a good idea to make your wishes known to family members to take the pressure off them when the time comes.
Designate What Happens If You’re Ill or Incapacitated
Just as important as what happens after you die is what happens if you’re ill, incompetent, or incapacitated. For this you need a living will, a power of attorney, and a medical power of attorney. If it sounds a little scary, don’t worry, it doesn’t take a lot of time and by the end you’ll know that you’ll only get the medical support you want.
Designate a Power of Attorney
A power of attorney is the person who can attend to financial or legal matters if you fall ill or are unable to handle them for yourself. It’s a good idea to choose a power of attorney so that they can attend to your financial and legal issues immediately after you fall ill. The power of attorney expires when you die, and the control of your finances typically shifts to the executor you named in your will. In some cases this is the same person.
You have a lot of choices for different types of power of attorney, but experts typically recommend is a durable power of attorney. This type of power of attorney goes into effect immediately after you sign the documents and lasts until you die. Essentially, when you sign it your power of attorney will have immediate access to your finances and legal matters the second you’re declared incompetent or incapacitated.
The form to designate a power of attorney varies by state, but if you want to do it yourself you can get a document from the same services where you did your will (SmartLegalForms, LegalZoom, or RocketLawyer). If you’re giving one person complete control over everything you can likely manage to fill this out yourself, but if you want to limit what they can do it’s likely best to consult with a lawyer. Photo by Andy on Flickr.
Prepare a Living Will and Designate a Medical Power of Attorney
Your living will (aka advance health care directive) outlines your wishes for medical care if you’re in an accident and can’t speak for yourself. The information you provide ranges from resuscitation guidelines to whether or not you want dialysis.
Every state has different paperwork for your living will, and different guidelines (you can grab paperwork specific to your state here). Essentially, each form allows you to designate what type of medical care you want to receive if you can’t speak for yourself, as well as designate if you want to donate any of your organs to science. Again, you’ll usually need two witnesses when you sign, and it’s wise to get it stamped by a notary. When you’re finished, keep a copy for yourself, and give copies to your physician, a family member, and your healthcare agent (your lawyer will also keep one if you use one). Additionally, if you do not want CPR or ACLS, you want to fill out a Do Not Resuscitate order with your doctor.
Not every medical procedure known to man is covered in the living will, and for those unexpected occurrences you may also want to designate a medical power of attorney (also known as an agent, attorney-in-fact, health care proxy, or health care surrogate depending on where you live). This person can make medical choices for you if they’re not included on your living will, or if you give them the power to override your previous choices if the circumstance warrants it. Additionally, they can also get the right to see your medical records (which is helpful if you choose anyone other than direct family), apply for Medicare on your behalf, and make choices about any medical procedures when you can’t. Again, this differs by state, but you’ll often name a medical power of attorney on your living will. Of course, before you give someone the power of attorney you’ll want to go over what type of medical treatments you want and don’t want, and make sure they agree to follow your wishes.
The living will and health care power of attorney forms are important for everyone to fill out. I did mine in about 10 minutes. With these completed, you’ll have the peace of mind that you’ll get the medical care you want (or don’t want) in just about every circumstance. Again, a lawyer is helpful here if you’re unclear about anything. If you’re not sure what type of treatments you’d like when you’re incapacitated you should speak with your doctor. Photo by Social Innovation Camp.
Organize Your Finances, Life Insurance, Bills, Debts, and Everything Else
While the bulk of your assets are distributed on your will, you still have a lot of financial obligations out in the world. Naming an executor on your will and a power of attorney is just one step. You’ve probably already done this, but it’s also important to get all your finances organized so your heirs can actually find what they need. According to the National Association of Unclaimed Property, around $32.9 billion assets are currently unclaimed because the state took hold of them instead of the family. So, whether you decide to write up your will with an estate planner or not, you still need to get everything in order.
Two of the most important documents are your life insurance policy (especially policies from former employers) and retirement plans (as well as pensions and annuities), because both are easy to overlook. If your heirs don’t know these accounts and policies exist, they can’t claim them and the funds usually go to the state. So, gather up your various policies and keep them together.
If you don’t have a life insurance policy, you might want to get one, and we’ve walked you through what you need before. A life insurance policy isn’t just about covering your salary after you die, it’s about helping your family pay for funeral costs, car loans, credit cards, mortgages, and everything else.
To make the process easier on your family when you pass away, it’s also a good idea to gather together all your debts (especially big ones like your mortgage, car loans, or credit cards) in one place so your heirs can pay your bills for you while they figure everything else out. You likely already do this, but it’s good to keep everything together so they don’t have to search for it. To make the process even easier (and skip over any conflicts with power of attorney), you can add a family member to at least one of your bank accounts so they always have access to some of your funds.
If you have a lot of sources of income, it’s a good idea to meet with a financial advisor to get everything organized. You can find one through The National Association of Personal Financial Advisors. With your financial advisor you can set up beneficiaries for retirement plans, make your accounts accessible, and create spending plans for your surviving family.
Secure Your Digital Life (and Pass the Keys onto Someone You Trust)
It’s increasingly important to also hand over the keys to your digital life when you’re preparing for your death. We have a guide for getting everything organized that’s easy to follow.
The reason this is an important step is not just to give your heirs access to your bank accounts, it’s also so they can shut down services you don’t want around. For example, Facebook can memorialize your page if you want, but if you don’t want that digital record sticking around, you might make a request to your heirs to delete it outright. Likewise, if an heir wants access to your Google account and you don’t give them the password, they’ll need to provide a name, address, photo ID, email, and death certificate. Which is to say, it’s a lot easier for your family if you just give them your passwords.
So, when you’re putting together your list of usernames and passwords, include instructions for how you want those accounts handled, including if you want them to do anything specific with your home computer. It might seem a little weird, but if you want a little control over how your digital life is handled after you die, this is the only option. If you’re using a password manager like Lastpass then you can just look in your password vault for a full list of all your accounts and passwords. It only takes a couple of minutes to copy the ones that really matter.
Set Up a Master File of Everything
Once you have all your paperwork sorted, wills filled out, and everything else, it’s time to pack that all into master file you share with a close family member or friend. Remember, this includes everything about your life, so keep it in a safe place (or in a safe deposit box), and share it’s location with your family. After completing the steps above, you should have everything in order, but here’s what you should include (List culled together from UC Berkeley, The Wall Street Journal, and our own “In-Case-of Emergency” document):
Will
Letter of instruction
Birth certificates
Marriage certificates
Citizenship papers
Divorce/separation papers
Adoption papers
Social security numbers/cards
Passports (numbers and expiration dates)
Driver’s licenses (number, expiration dates)
Military records
Names/address/telephone numbers of healthcare professionals
Healthcare proxies/living wills
Medications (dosages, name of prescribing physicians, pharmacy, address/telephone
Social worker or caseworker names and contact information
Passwords, web sites, and other digital information
Income sources (retirement and/or disability benefits, Social Security, etc.)
Financial assets (institution names, account numbers, address/telephone, form of ownership, current value) of cash, bank accounts, stocks, bonds, mutual funds, money market funds, retirement and pension plans, IRAs, annuities, life insurance
Real Estate (property addresses, location of deeds, form of ownership, current value)
Other assets (location of items/titles/documents/form of ownership, current value) including automobiles, boats, inheritances, precious gems, collectibles, household items, hidden valuables/items in storage, loans to family members/friends
Liabilities (Creditor institutions, address/telephone, approximate debt) of mortgages, personal loans, credit cards, notes, IOUs, other).
Trust documents
While some of these records need to be physical copies (like your birth certificate), others, like contact info, a copy of your will, and property information can be digital, so use whatever system you’re more comfortable with. Whatever you decide, keep everything organized in a folder together, and let a family member know where everything is.
If you need a little help getting everything organized, webapps Everplans, Get Your Shit Together, and CNN’s guide to estate planning are great resources that guide you through more of the specifics. As always, if things get too complicated, don’t hesitate to contact an estate planner for help—most will offer you a free consultation.
Planning for control of your personal information after you die used to be as simple as telling someone about the desk drawer or the fireproof box or the safe deposit box at the local bank.
But in the era of smartphones and cloud computing services, that same stuff may be stored in digital formats on servers scattered across the globe. You may keep documents online or use email as a catchall for paperless receipts, insurance information or financial transactions. And don’t forget the photos, videos and musings left behind at social media sites like Facebook, Twitter, LinkedIn and Flickr.
So how do you make sure all that information — protected by who knows how many passwords — is handled the way you would like after you’re gone? Two words: Plan ahead.
Providers that store digital content are restricted in how they can disclose it to someone other than the account holder. Much of it is protected by privacy laws. And terms of service agreements for things like free email may prevent companies from disclosing that material to anyone without a court order.
“We are in a gray area right now where the technology has progressed faster than the laws,” said Laura E. Hoexter, an estate-planning lawyer at the law firm Helsell Fetterman in Seattle.
Some states have passed laws to address aspects of these issues. For example, a 2013 Virginia law makes it easier for family members to see content in cases of the death of a minor. And the Delaware Legislature just this week passed a bill that seeks to ease access to content.
The Uniform Law Commission, a nonprofit association that looks for ways to bring about uniformity in important areas of law, is also working on a law that could eventually apply to all states.
The commission wants to ease access to content while also honoring a user’s privacy wishes. It hopes all 50 states will adopt its proposal so a single set of guidelines would standardize the process for users, providers and heirs, said Suzanne Walsh, chairwoman of the committee drafting the law, called the Uniform Fiduciary Access to Digital Assets Act.
While the legal issues are being untangled you can plan ahead. Google, for example, offers a tool to help its users deal with the problem. Called Inactive Account Manager, it allows you to designate up to 10 people to receive content from sources like your mail, documents or blogs. You may also choose to have content deleted after you have died.
When the account becomes inactive, your designees are notified and receive the content you chose to share. They do not receive a means of logging in to your account.
Some lawyers view Google’s planning tool as a model to emulate.
“Other companies haven’t started doing this yet, but I’m hopeful they will,” said James D. Lamm, an estate-planning lawyer at Gray Plant Mooty, a law firm in Minneapolis and the author of digitalpassing.com, a blog that tracks these issues.
And if companies aren’t doing this for you, one of the surest ways to pass on content is to keep copies on your computer. You can make a habit of saving copies of important documents, sentimental photos, Facebook content or purchased content like music. One handy tool to capture web content is called ScrapBook, a free Firefox extension created by Taiga Gomibuchi, a programmer in Tokyo.
But if you download, make sure your material is secure. That means backing up to an external drive with programs like Apple’s Time Machine, or File History in Windows 8. Also, encrypt your computer’s disk and the backup drive. And if you share a computer, make sure your private content is secure, because another user with administrator rights may have access. Programs like 7-Zip can pack away confidential files in encrypted archives.
Some lawyers suggest including a digital executor in your will. This person is responsible for carrying out your wishes for your online content. This is no guarantee the content will be disclosed, they said, but it may help if laws eventually change.
“What would you want them to do if you were allowed to do it?” Ms. Hoexter said. This strategy includes creating a list of your online accounts, with passwords included, she said, and storing it where you can update it easily and your digital executor can find it.
Divulging your passwords is risky, of course, even to someone you trust. But there is no simple way to do this securely while ensuring your passwords are current.
Numerous online services offer features that can transfer passwords and other personal data after you die. PasswordBox, a password manager that hooks into your web browser, has a transfer feature called Legacy. SecureSafe, based in Zurich, offers a tool for transferring passwords.
Of course, putting information like that online exposes it to hackers, government snoops or even the unforeseen security bug.
Instead, you may choose to store passwords on your computer. Many programs are available, including Password Safe and KeePass. There are also encrypted portable devices like SplashID Key Safe. You can stash one in a fireproof box and give your master password to a friend or your lawyer.
The law may one day catch up with technology. But in the meantime, it’s wise to make sure you’re using technology to deal with the dilemmas technology has created.
Estate planning and administration professionals cannot ignore the ubiquity of digital assets. 2012 saw global sales of digital music amount to $5.6 billion and in some markets, including the US, India, Norway and Sweden, digital music sales exceeded packaged music sales. Meanwhile, e‐book sales represented an estimated 16%, and growing, of all book sales in Canada in 2012.2 Almost 18 million Canadians, more than half of the population, has an active Facebook account. The Bitcoin virtual currency has been featured regularly in the news as its exchange value skyrocketed from approximately USD$100 to USD$1200 late in 2013, before falling off dramatically again.
The term “digital assets” is used in different ways by different people. In a narrow sense, a digital asset has been defined as “any item of text or media that has been formatted into a binary source that includes the right to use it.” In a broader sense, digital assets include all of the electronic “possessions” an individual may have, including emails, digital photos, videos, tweets, texts, songs and e‐books, as well as online account information for websites or programs such as Facebook, LinkedIn, bank accounts, PayPal and others.5 In this broader sense, digital assets are sometimes referred to as a “digital estate” or “digital legacy”.
Digital assets have three distinct elements:
A digital file or record. This is the data that constitutes the content of the asset.
The right to use the file or record. It has been noted that if there is no right to use a file or record, then it should not be characterized as an asset.Rights of use may derive from authorship or other ownership of the content (for example, emails or original documents), or may be granted by a licence from the owner or a third party licensor (as with most digital music or e‐books).
A method of access. Assets may be categorized into (a) physically controllable digital assets (PCDA) which are stored on hardware to which the owner has access, and (b) controlled access digital assets (CADA) stored “in the cloud” on servers belonging to third party service providers and accessible on‐line with the use of a username and password.
Because the law applicable to digital assets is still developing, digital present unique challenges to executors, administrators, attorneys and committees. In addition, planning strategies for digital assets are rapidly evolving as the law, the e‐service industry, and user awareness of estate planning issues all mature.
