Re-defining ‘Property’ in the Digital Age: New Estate Planning Options in Wisconsin
On March 30, 2016, Governor Scott Walker signed the Wisconsin Digital Property Act into law which recognizes the changing concepts of ‘property’ in the digital age. The proliferation of Gmail, Facebook, Twitter, iCloud, PayPal, and other electronic services poses the question of who should or should not be given access to these accounts should the original user die. The Act creates an opt-in program for Wisconsin users who may designate a digital property custodian in their estate planning documents, thereby granting access to any or all electronic accounts in the event of their death. This is yet another consideration to keep in mind in your own estate planning as digital property becomes increasingly prevalent in our society.
For more information regarding the Wisconsin Digital Property Act and its impact on the estate planning process, please see this interesting May 4, 2016 article published by Kenneth P. Barczak in the State Bar of Wisconsin’s InsideTrack:
John M. Kelly, Attorney at Law, LLC has 42 years of experience in the area of estate planning, ranging from the drafting of simple wills to complex estate planning and administration. Contact Attorney Kelly today for all of your estate planning needs.