COURSE DESCRIPTION
Some of the most valuable assets a client has are the most difficult to define, value, and transfer on death. “Digital assets” – everything from digital music and pictures stored online, to bank and credit card reward programs, Facebook pages and online TurboTax files, bank and retirement account credentials – are a class of asset that every client has, yet planning for them is new. These assets are not governed by a conventional set of federal or state laws, rather by a complex set of rules set by a variety of organizations, none of which are standardized but which planners need to understand nonetheless to satisfy client expectations. This program will provide you guide to the nature of digital assets, how they are controlled, and how to plan for them.
- Digital assets in estate planning – defining and transferring them on death
- How failure to plan for these assets can scuttle estate plans and disappoint client expectations
- Fiduciary access to digital assets under current law
- Practical planning for digital assets – what works, what doesn’t, and what’s not at all clear
- How user polices impact the planning process – what you need to know about how these assets are titled and controlled
- How federal law impacts the planning process and unconventional planning issues
Speakers:
Michael Sneeringer is a Partner in the Naples, Florida office of Porter Wright Morris & Arthur LLP, where his practice focuses on trust and estate planning, probate administration, asset protection planning, and tax law. He is an Executive Council member of the Real Property, Probate and Trust Law Section of the Florida Bar and the Articles editor, Trust and Estate, for Probate & Property Magazine.
Missia H. Vaselaney is a partner in the Cleveland office of Taft, Stettinius & Hollister, LLP, where her practice focuses on estate planning for individuals and businesses. She also represents clients before federal and state taxing authorities. Ms. Vaselaney is a member of the American Institute of Certified Public Accountants and has been a member of the Steering Committee for AICPA’s National Advanced Estate Planning Conference since 2001.