The pace of change in the world is ever increasing. Oddly enough, many of our seniors
are embracing that change, particularly the use of technology – computers, the INTERNET, tablets and PDA’s. They use internet banking and investing; Paypal,Bitcoin, Ebay, Amazon, interac email money transfers; Instagram money transfers and the like. If you are a named executor of someone’s estate and you don’t know what a PDA is, or any of the things listed above, you have a potential problem.
The reality is that assets having real value, including “cash money”, now have a virtual
existence that you simply cannot see without a device to get you on the internet AND
without the necessary passwords to access the person’s computer(s) (there is likely
more than one device involved) to ascertain what those digital assets are and their value.There are a host of legal issues surrounding sharing or divulging login passwords, however, there are even bigger legal issues if you, as an executor, miss substantial estate assets because you did not possess a reasonable amount of technological proficiency.
So, if you are making new will; or revising or replacing an existing one as a will maker;or have agreed to act as an executor for someone, you should make a thorough examination of what digital assets exist and how the can be accessed an controlled.
MOST IMPORTANTLY, as many domestic partners are wont to do, only one partner “takes care of business” via online banking etc., and the other remains blissfully, and willfully ignorant of the whole scheme of things. This is a disaster waiting to happen.
You simply cannot ignore technology any longer.
You do so at the peril of your partner and other loved ones!
Start a dialogue, make the time now to sit down and have a plan.
Dogwood lawyers can help.
Call us for a free initial consultation.
778 410 5090