Blog Layout

Are You Sure You Want THAT in the Cloud?

Cindy Nelson • September 10, 2018

There are some clear benefits to storing your will and documents online. You and your spouse (or other authorized people) can access them anytime, from anywhere. We are used to putting our lives online.   However, there are also some downsides to consider before doing so, according to a helpful article from CNBC titled “Here’s what you need to know before storing your will online.”

It’s good to have all your important documents in one place. Make sure that the people who will need access, such as executors, know that you’ve done so or the cloud storage may well be pointless.

Online storage can also facilitate family conversations about estate planning. Even tech savvy adult children who scoff at parents who don’t engage in social media, will be impressed by a decision to go digital.

  However, there are pitfalls.

The Revised Uniform Fiduciary Access to Digital Assets Act allows those who are appointed as fiduciaries to access some digital assets in the 45 states (and D.C.) where the law is in place, according to the Uniform Law Commission. ULC is a state-supported organization that brings uniform laws to different jurisdictions.  

  However, unless you give full access to your digital accounts to your attorney or executors, they will not have the right to open these accounts. They might be able to go online to bank accounts but not to your social media accounts or any portals containing important documents.

You need to give an executor access. That means more than your password, log in information and answers to security questions. They will also need a legal document granting them access to the accounts.

Check with your elder law attorney to learn your state’s requirements. Whether or not your estate planning documents are in the cloud, you probably have digital assets. Make sure your will is updated.

estate planner
November 18, 2024
In this blog post, we'll discuss why it's never too late to hire an estate planner and the benefits of doing so at any stage in life.
estate planning lawyers
October 15, 2024
Are you wondering about the ways estate planning lawyers can help you? Continue reading to learn more helpful information.
estate planning
September 12, 2024
Read our blog to learn about the top five reasons to start estate planning now. If you need estate planning services, contact our team today!
estate planning attorney
July 18, 2024
In this article, we discuss a quick guide to hiring an experienced estate planning attorney. Read on to discover more about this topic.
July 17, 2024
John's life was upended when both his parents passed away within a month of each other. His father died first, followed shortly by his mother. John, a resident of Louisiana, and his parents who lived in Cobb County, thought they were completely prepared, having named beneficiaries on their accounts to make transferring the assets as easy as possible. Amidst his grief, John discovered they had missed naming a beneficiary on one significant account, which they planned to use for funeral costs. As the Executor of his mother's Last Will & Testament, John now faced the need to probate his mother's estate so he could access and distribute the funds in that account.  Like most people, John had no experience handling such legal matters, and the probate process seemed overwhelming. The thought of managing his parents' estate, especially from a different state, was daunting. He questioned whether he could handle the process and the legal complexities involved.
probate lawyer
June 10, 2024
When someone passes away in Georgia and has a will, it often needs to go through probate. Here are some of the common benefits of using a probate lawyer.
April 29, 2024
In an ever-evolving legal landscape, safeguarding your assets and securing your legal autonomy requires more than any one-size-fits-all approach could possibly provide. At Nelson Elder Care Law , we prioritize building meaningful relationships with families to gain insight into their specific financial, healthcare, and end-of-life goals. We specialize in crafting individualized solutions tailored to each family's unique needs, and educating our clients about the legal solutions that will truly empower them. This family-focused approach, and a deep understanding of the complexities of estate planning and asset protection, led us to create our innovative Absolute Protection Trust™. Unlike competitors' or DIY-internet trusts, we offer a range of unique differentiators that make our Absolute Protection Trust™ the premier choice for securing your assets and providing peace of mind: 1. Unparalleled Assurance and Protection: With an Absolute Protection Trust™, families gain the legal tools to safeguard their assets against unforeseen threats and vulnerabilies. Our comprehensive framework provides personalized protection, so you have the peace of mind that your priorities and goals are honored. 2. Preserve Your Autonomy with our Trust Protector™: Unlike traditional trusts that lack flexibility, ours offers the unique advantage of amending irrevocable trusts through our Trust Protector™. You retain the power to remove a Trustee, and we can modify or amend trust provisions if your life circumstances change, aligning your estate plan with your evolving needs and preferences. 3. Personalized Planning Team: Every family and client's situation is unique, so we provide a personalized legal team led by an experienced attorney to create your estate plan. Throughout the process, you'll meet with the same faces and speak to the same people, providing personalized support and guidance every step of the way. 4. Seamless Transfer of Assets: The wealth of experience and wisdom we've gained from serving more than 5,000 Georgia families over the years has shown us that the most crucial step in protecting your assets is making sure they are correctly transferred to your trust. With an Absolute Protection Trust™, you'll finalize your estate plan with one of our meticulously detailed Funding Managers. Their expertise in trust funding gives you concierge-level service in facilitating the transfer of assets into your trust, reducing client liability and increasing accuracy, letting you rest easy knowing your assets are protected. Contact us today to learn more about how our Absolute Protection Trust™ can benefit you and your family, and take the first step towards securing your legacy for generations to come.
April 5, 2024
How Trusts Minimize Taxes and Maximize Your Wealth. If you are over 65 and made more than $15,700 income in 2023, you are above the filing requirement that makes April less fun.
estate planning lawyers
March 20, 2024
Here are some reasons why it's time to start contacting local estate planning lawyers. Keep reading to learn more about why you shouldn't wait.
More Posts
Share by: