Digital Assets

News & Analysis as of

Five Social Media Law Issues To Discuss With Your Clients

The explosive growth of social media has clients facing legal questions that didn’t even exist a few short years ago. Helping your clients navigate this muddled legal landscape will have them clicking “like” in no...more

RadioShack’s Consumer Data: A Highly Scrutinized Asset

Following the Texas Attorney General’s objection to the sale of RadioShack Corporation’s consumer data as an asset in its bankruptcy, 37 other state attorneys general and a large number of other consumer protection entities...more

Connecticut General Assembly fails to pass Digital Assets Act

In its most recent legislative session, which ends this month, the Connecticut General Assembly failed to pass Connecticut’s proposed version of the Uniform Fiduciary Access to Digital Assets Act (UFADA). Fiduciaries are...more

Protecting Digital Assets: 6 Steps to Take on Death or Incapacity

It used to be enough for a fiduciary and her attorney to simply search through a decedent’s or incapacitated person’s papers in his or her workplace and at home, watch the mailbox for a 90 day cycle, and review tax returns...more

California introduces ‘opt-in’ digital assets bill

On June 8, 2015, it was reported that the California legislature is considering a new bill, A.B. 691, which would set forth the procedure for handling a deceased individual’s digital assets, including their social media...more

Fiduciary News - June 2015

Changes Coming for Pennsylvania Fiduciaries in Their Ability to Access and Manage Digital Assets and Accounts - On January 1, 2015, Delaware became the first state to enact a comprehensive law granting fiduciaries the...more

What Happens to Your Digital Life After Death? Planning for the Transfer Of Digital Assets

Most people do not think about the large digital footprint that they have created. More importantly, they do not think about how their digital assets might pass (or not) at death. Since these assets may have value, either...more

Socially Aware - Volume 6, Issue 2 - May 2015

In This Issue: - Court Protects Anonymity of Yelp Users - FTC Issues Landmark Report on Internet of Things - Who Will Update My Status When I’m Dead?: The Biggest Social Media Platforms’ Policies on...more

Social Media Assets in Bankruptcy: Facebook and Twitter Accounts Subject to Reach of Creditors

Social media accounts can be “property of the estate” in a bankruptcy case of a business, and thus belong to the business, even when the contents of the accounts are intermingled with personal content of managers and owners....more

Judges, Guns, And Facebook: Social Media Lessons For Businesses From The Tactical Firearms Case

Over the past few weeks, the internet has been abuzz over the battle raging between Jeremy Alcede, the former majority owner of CTIL, LLC, dba Tactical Firearms (the debtor), and the Bankruptcy Court for the Southern District...more

Texas Bankruptcy Court ‘Likes’ Facebook and Twitter Accounts as Property of the Reorganized Debtor

In a recent opinion in In re: CTLI, LLC (Tactical Firearms), Judge Jeff Bohm in the United States Bankruptcy Court for the Southern District of Texas ordered a debtor to handover its Facebook and Twitter accounts to the...more

High Net Worth Family Tax Report, Vol. 10, No. 1

Recent Case Illustrates Importance of Keeping Legal Entities in Good Standing - A recent United States Tax Court case illustrates the importance of keeping legal entities in good standing. In Medical Weight Control...more

Social Media: Strategy and Implementation - Are you protected?

With more companies utilizing social media as a part of doing business, are you protecting yourself and your business from issues that can arise when implementing these strategies? Where do you stand legally when employees...more

Estate Planning for Your Digital Assets

If you use a computer, you likely have digital assets that should be addressed as part of your estate planning. Access to digital assets is governed by an evolving and complicated technical and legal framework, including...more

Estate Planning for the Digital Life

While individuals will eventually pass on, the internet is forever. Online accounts from games, apps and social media are becoming increasingly valuable. In an age of expanding online presence, estate planners and...more

What happens to your online digital accounts at death?

More online digital companies are providing users the ability to control what happens to their accounts after death. For example, Facebook now allows you to name a “legacy contact” to manage your Facebook page after...more

Who Will Update My Status When I’m Dead?: The Biggest Social Media Platforms’ Policies on Deceased-User Accounts

It’s often said that, when it comes to regulating technology, U.S. laws aren’t up to speed. That includes U.S. trusts and estates laws, which, in many cases, do not say much about what happens to your digital assets after you...more

"The Estate Planner" – March/April 2015

In this issue: - Second Trip Down The Aisle? – Update Your Estate Plan To Reflect Your Second Marriage - 21st Century Estate Planning For Digital Assets - Planning For Aging Parents – 5 Tips For The...more

Facebook Takes a Step Forward for Digital Afterlife

Late last week Facebook released several new features that will aid in the management of a user’s account after the user’s death. While there has been little notification of these features on Facebook itself, the new features...more

Facebook Allows Users to Designate "Legacy Contact"

Access to digital assets following an individual's death continues to be a hot topic, and once again has made the news. This time, Facebook has announced a new feature called a "Legacy Contact." Essentially, this is the...more

2015 Estate and Tax Planning

Blank Rome’s annual estate planning newsletter discusses certain concepts and techniques that we hope may be of interest to our clients and friends....more

Good Rep: Social Media Assets in M&A Transactions

As we previously reported, a company’s social media pages and profiles, and the associated followers, friends and other connections, may constitute valuable business assets. In our experience, however, social media assets...more

What Happens to Your Online Content When You Die?

More and more of the music, movies, and books we own exist only online, in digital form. What happens to these collections after the owner dies? Surprisingly, while you may want your heirs to have access to the books, music...more

Accessing Digital Assets

For several years the Uniform Law Commission (the “ULC”), a non-partisan body that conceives model laws addressing legal issues of widespread importance, which legislatures are free to adopt fully or in modified form, has...more

Wills, Trusts and Estates Newsletter - December 2014

In This Issue: - Managing Your Online Presence after Death - Estate Planning Questions: Naming a Beneficiary to your Accounts - Looking for a New Acronym? Try QLAC - Excerpt from Estate Planning...more

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