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The Wall Street Journal recently noted the growing concern we have blogged about previously – digital assets. The WSJ article addresses the fear of one losing thousands (if not tens of thousands) of digitally downloaded songs or books that one may want to leave to friends or family through a will or other bequest. The article sums up the problem with, "Most digital content exists in a legal black hole."
In Oregon we are trying to meet that problem head on with proposed legislation that empowers personal representatives and other fiduciaries to gather digital assets and accounts and distribute them according to the wishes of the owner.
Our estate planners also recommend a VAIL (Virtual Asset Instruction Letter) to let your trusted fiduciary know who gets what.
Michael Walker and I will be discussing some of the issues that come up when administrating and litigating estates that include significant virtual assets at an upcoming seminar in our office. If you would like to join us from 7:30-9:00 am on Thursday, September 27, please rsvp by calling our office at (503) 226-2966 or by email at events@samuelslaw.com. Light refreshments will be provided.
