Articles Posted in Digital Asset Trust

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Back in 2006 and 2007 I wrote several articles on Digital Assets and Estate Planning. Now that we are in 2009, there is even more need for Digital Asset protection in your Florida Estate Planning Documents.

fingerprint-scanner.jpgDigital assets are those that expire upon your death and are often associated with Email and website accounts. Most of these accounts are not actual property. They are licenses and these licenses generally expire upon your death. A new company Legacy Locker is attempting to solve this problem through a web based tool that stores account login and passwords and purports to transfer this information to the designated beneficiary upon your death or incapacity.

While their software is a good idea it has some issues in that it does not resolve the fact that the license expires upon the death of the person who creates it. One solution to this problem is to create the accounts in the name of a trust of business so that when you die, the entity that owns the license is still in existence. There are other companies that do similar things such as DeathSwitch.com

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Google Health just began offering personal health records on the Web. They are joining WebMD, Microsoft, and Revolution Health.

These services are designed to help consumers manage their health care and medical spending records.

Google record allows users to send personal information to some clinics or to pull records from the clinic into the Google personal file. One clinic that has begun working with Google is the Cleveland Clinic.

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Florida Estate Planning and LicensingA federal curt found that Marilyn Monroe was a New Yorker when she died in 1962. This means her estate which has earned more than 30 million dollars licensing her image can not control the licensing. Product makers may be free to use her image without paying licensing fees to her estate because of a difference between California and New York state laws.

Marilyn Monroe LLC plans to appeal the ruling. If you license your image, it may be important to look at the laws of your state to determine what rights your estate will have. If you have questions about licensing in your state you should Contact a Florida Estate Planning Lawyer to discuss the effects of your domicile on your future heirs.

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Gerry Beyer, author of the Wills, Trusts & Estate Professors Blog has an interesting article on a novil service called Deathswitch. This service could be used to provide some of the services I have discussed in relation to the Digital Asset Trust.

There are many things that people may want to be handled a certain way after their death. Deathswitch.com, offers peoplethe ability to send messages or inform people in the event they are critically injured or disabled.

Deathswitch is an automated system that regularly prompts users for a password. If the user fails to respond timely, the system assumes that he or she is dead or critically disabled and e-mails pre-scripted messages. Each person can pick the frequency of the prompts and the maximum time to respond. These time-frames can range from one day to one year. Gerry Beyer states that some of the ways in which Deathswitch can be used include:

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will.jpgWhen making a Florida Will, Florida Revocable Trust, or Codicil to a Florida Will there are several technicalities that must be complied with for the documents to be valid.

1) Who can make a Florida Will, Florida Revocable Trust, or Codicil to a Florida Will:

The answer to this can be found in section 732.501, Florida Statutes, where it states: Any person who is of sound mind and who is either 18 or more years of age or an emancipated minor may make a will.

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