Law Offices of Connie Yi, PC
California
Estate Planning
& Tax Law
Toll Free: 888-312-6978
Website Navigation Menu

Tech companies tackle estate planning tools

The practice of estate planning is as old as civilization itself and the issue of what one leaves behind and to whom remains as relevant and complicated as ever. Laws in this area have evolved somewhat with the changing times but the basic issues remain the same – how to organize one’s affairs so that loved ones can benefit from remaining assets with as little difficulty as possible.

This is an area where technology is beginning to play a larger role, from the ability to memorialize and shut off a Facebook account, to sophisticated email services that automatically close an account or send off a posthumous note on the user’s behalf. Now some technology companies are offering even more extensive services, such as digital property storage or even creating a power of attorney document.

However, some of these services should likely come with a buyer-beware disclaimer, since there are many nuances that can impact one’s estate plan that the software might not be able to pick up on, such as how to best allocate assets to minimize tax liability.

In addition, there could be some underlying issues with enforceability with these new technologies, since they are largely untested and have not made their way through the court systems in most states yet. Remember – executing a will is a specific legal process that must be done correctly with two witnesses present in order to be valid.

There may also be accessibility issues, particularly for young people who utilize this type of service. If a 30-year-old uses this type of service and lives into their 80s, technology will have changed a tremendous amount in the intervening 50 years, so it is difficult to know whether this information will be accessible or relevant anymore. Say what you will about paper and ink, but that technology has been around more than 2000 years, reliably passing along information from one generation to the next.

Source: New York Times, “Navigating the Logistics of Death Ahead of Time,” March 28, 2014. 

No Comments

Leave a comment
Comment Information

Contact Us Now to begin your initial consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

FindLaw Network

Office Locations

Law Offices of Connie Yi, PC
490 Post Street, Suite 508
San Francisco, CA 94102
Phone: 415-433-3350
Toll Free: 888-312-6978
Map and Directions

Additional Office Locations:
Pleasanton
323 Ray Street
Pleasanton, CA 94566
Phone: 925-484-0888 
Pleasanton Law Office Map

San Mateo
1900 S. Norfolk Street, Suite 350
San Mateo, CA 94403
Phone: 415-433-3350
Map and Directions

Sunnyvale
1250 Oakmead Pkwy, Suite 210 
Sunnyvale, CA 94085 
Phone: 888-312-6978 
Map and Directions