Digital Assets: New Technology in Trusts & Estates Practice
Created on January 15, 2019
In the 21st century, practitioners handling Trusts and Estates must grapple with old questions posed by new technological advances: what is an asset? Everyone is familiar with traditional assets such as automobiles, bank accounts, and residences. In the digital age, however, individuals may also have virtual assets such as social media content, which raises unique legal issues. For example, access to these virtual assets may be restricted by their nature and the uniqueness of their being in electronic form. In this program, attorneys will discover means by which the administrators of trusts and estates might locate, access, and take control of virtual assets for the benefit of beneficiaries, review the possible complications posed by these circumstances, and understand how to adapt their traditional legal duties to a changing world.
- Explore the nature of digital assets and how these might be valued
- Appreciate difficulties that may arise when administrators seek to take control of digital assets
- Review what legal remedies exist for administrators who experience difficulties in collection
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