Like most other States, Maryland has enacted the “Fiduciary Access to Digital Assets Act.” The statute permits the “user” of “digital assets” to authorize a designee to access specified digital assets after the user’s death...more
With the rise of the digital world, many estate planning clients have accumulated large collections of “digital assets” that are stored online. In its simplest form, a “digital asset” is a non-physical asset that exists...more
New Jersey recently enacted the Uniform Fiduciary Access to Digital Assets Act (the “Act”). In general, the Act provides executors, trustees, guardians, and power of attorney holders (“fiduciaries”) with the ability to access...more
On September 13, 2017, Governor Chris Christie signed into law New Jersey Assembly Bill A-3433, otherwise known as the Uniform Fiduciary Access to Digital Assets Act (“UFADAA”). The Act becomes effective ninety days after the...more
Purpose - Distributed ledger technology (“DLT”), including the use of blockchain technology, has been touted as a way to create and validate digital identities that serve many of the same purposes that physical forms of...more
In this white paper, we analyze the treatment of bitcoin under applicable U.S. property law. We conclude that property interests should exist in bitcoin under such law, and that multiple sources of persuasive authority...more
December Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The December § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more
In an article earlier this year we noted that at a large number of states had introduced legislation to address an emerging issue that is unique to our Information Age: how will our digital assets be accessed and used (or...more
In the not-so-distant past, one likely kept copies of vital estate planning documents locked in a fire-resistant vault or file cabinet, with copies at an attorney’s office. However, in this digital age, it’s more likely that...more
Have you addressed elderly parents in your estate plan? Typically, an estate plan includes accommodations for your spouse, children, grandchildren and even future generations. But some members of the family can be...more
With the shift from traditional hard copy paper documents towards electronic records stored Cloud Computing-based software and services (e.g., iCloud, Dropbox, Google Drive, etc.), access to and use of digital assets by...more
Oregon became the first state to adopt the Revised Uniform Fiduciary Access to Digital Assets Act (“Revised UFADAA”) when Governor Kate Brown signed Oregon Senate Bill 1554 into law on March 3, 2016. The law will become...more
The recently-proposed Revised Uniform Fiduciary Access to Digital Assets Act (“Revised UFADAA”) is a potential solution to a problem that most of us eventually will face: how will our digital assets be accessed and used (or...more
We previously told you about the Uniform Fiduciary Access to Digital Assets Act (“UFADAA”) in our post found here. Now, Florida may become the 10th state to legislate fiduciary access to digital assets....more
Traditionally, a person’s most valuable assets to be distributed upon death consisted of tangible items such as real property, cash, jewelry and personal effects of sentimental value like photographs and letters. However, the...more