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Strobl PLLC

Strobl PLLC

Business and Corporate Law Firm

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(248) 540-2300

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    • Henry J. Andries, Jr.

      Henry J. Andries, Jr.

      Member

      Phone: 248.205.2710

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Healthcare Law, Labor & Employment, Litigation, Real Estate, Tax

      Experience

      Since 1995, Henry J. Andries, Jr. has engaged in private practice with a concentration in employment law, complex civil litigation...

    • Lynn M. Brimer

      Lynn M. Brimer

      Member

      Phone: 248.205.2772

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Bankruptcy & Creditor's Rights, Business Law, Commercial Contracts, Corporate Law, Litigation, Mergers & Acquisitions, Non-Profit Law, Real Estate, Tax

      Experience
      • Assist taxpayers with representation before the internal Revenue Service, the State of Michigan Department of Treasury and other taxing authorities...
    • Jon P. Everly

      Jon P. Everly

      Managing Member

      Phone: 248.205.2759

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Non-Profit Law, Real Estate, Tax

      Experience
      • Advises closely held businesses and their owners in a broad range of legal matters, including formation, taxation, succession planning, and...
    • Michael L. Geller

      Michael L. Geller

      Member

      Phone: 248.205.2770

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Healthcare Law, Labor & Employment, Litigation, Real Estate

      Experience
      • Advises and assists clients in the creation and structuring of their business entities.
      • Regularly counsels clients relative to employment issues that...
    • Jeffrey T. Goudie

      Jeffrey T. Goudie

      Member

      Phone: 248-205-2767

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      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Real Estate

      Experience
      • Represents financial institutions in licensing matters, regulatory matters, and transactional matters
      • Provides vendor contract review for financial institutions
      • Litigates title issues and...
    • Paul M. Kavanaugh

      Paul M. Kavanaugh

      Member

      Phone: 248.205.2711

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Healthcare Law, Labor & Employment, Mergers & Acquisitions, Real Estate

      Experience

      In his more than 30 years of practicing law, he has helped businesses protect their financial and intellectual property, minimize...

    • Michael A. Kus

      Michael A. Kus

      Member

      Phone: 248-205-3090

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      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Real Estate

      Experience
      • Advises financial institutions on compliance and regulatory laws and policies and procedures
      • Provides guidance and assistance to banks and thereby reducing...
    • Jay R. LaBarge

      Jay R. LaBarge

      Member

      Phone: 248.205.2778

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Healthcare Law, Mergers & Acquisitions, Non-Profit Law, Real Estate, Tax

      Experience
      • Advises clients on a full range of real estate matters, including drafting and negotiating purchase agreements and residential, commercial and...
    • Brian J. McCullough

      Brian J. McCullough

      Member

      Phone: 248.205.2715

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Healthcare Law, Real Estate

      Experience
      • All legal aspects pertaining to healthcare providers, including licensing, certification issues, survey and compliance issues, Medicare, Medicaid and other insurance-related...
    • Pamela S. Ritter

      Pamela S. Ritter

      Member

      Phone: 248.205.2765

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Bankruptcy & Creditor's Rights, Business Law, Commercial Contracts, Corporate Law, Litigation, Real Estate

      Experience
      • Counsel to lenders in a range of loan origination transactions, including commercial and industrial loan facilities, real estate and construction...
    • James A. Rocchio

      James A. Rocchio

      Of Counsel

      Phone: 248.205.2748

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Bankruptcy & Creditor's Rights, Business Law, Commercial Contracts, Corporate Law, Estate & Succession Planning, Mergers & Acquisitions, Tax

      Experience

      Mr. Rocchio has deep expertise in the area of taxation. Over the course of his legal career, he has counseled...

    • Nelson B. Stieper

      Nelson B. Stieper

      Of Counsel

      Phone: 248.205.2742

      Office: Bloomfield Hills, Michigan

      Connect:

      Practice Areas

      Estate & Succession Planning

      Experience
      • Performs probate and trust administration, revocable and irrevocable trusts, wills, special needs planning, gift planning, and asset protection
      • Advises on divorce,...
    • Thomas J. Strobl

      Thomas J. Strobl

      1942 – 2023

      Phone: 248.205.2713

      Office: Bloomfield Hills, Michigan

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      Practice Areas

      Banking & Financial Services, Business Law, Commercial Contracts, Corporate Law, Labor & Employment, Mergers & Acquisitions, Real Estate, Tax

      Experience
      • Advises a broad spectrum of purchasers and sellers in merger and acquisition transactions involving primarily private companies.
      • Represents financial institutions and...
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Estate Planning For Digital Assets

August 14, 2014

Planning for digital assets is an essential part of your estate or succession plan

By Andrew Ayar

Michigan-estate planning-attorney-Andrew-AyarIf you are like many people, you have put off estate planning because there are always more pressing and, quite frankly, less depressing issues than contemplating your own mortality to address. And now, in this high-tech age, new challenges present themselves. Besides the traditional assets that estate planning historically covered — financial resources, real estate and physical possessions — planning for digital assets has become an essential part of your estate or succession plan. The law governing the powers of a trustee or personal representative to manage a deceased person’s digital assets is still evolving, but you can clarify matters for your loved ones by including instructions about your digital assets as part of your estate plan. Digital assets include profiles for social networking sites, bank accounts and brokerage accounts, as well as personal treasures like music and photos.

Each online service provider has unique terms of service that are different for the accounts of their deceased customers.  Here are 5 easy steps you can take right now to make it easier for your loved ones to manage your online estate.

1. List all online accounts

The first thing to do is to make a list of all online accounts. Do not forget blogging sites, shopping sites, financial accounts and email sites. Most of us have a much larger digital footprint than we realize. After creating the list, inventory the information. One suggestion is to create a password-protected Excel spreadsheet. Whatever form you use, be sure to include the web address, description, user ID, password, answers to any secret security questions and account number. Since your will can eventually become public, it should contain instructions on where to find this information (such as a safe deposit box), but not the information itself. There are several websites that have been designed to help create and maintain an inventory of digital assets. However, most of these sites are relatively new, they go out of business at a high rate, and not much is known about how they operate and store information. Therefore, it is critical that you vet these websites before using them.

2. Appoint a trustee

Being a trustee is a big responsibility, so be certain that the person you select is comfortable with the role and will handle the responsibility according to your wishes. You may want to split the list of your digital assets and ask two people to share the role. Existing trust documents will need to be updated to let a trustee take control of digital assets.

3. Prepare an authorization statement

Sign a statement authorizing the companies that hold your online information to disclose your information to your representative. The authorizations can be included with your will documentation so your trustee or personal representative can easily request the contents of your online accounts.

4. Save your information in a secure place

If you use a password-protected Excel spreadsheet, you will need to find a way to provide your trustee with access. If you prefer storing a hard copy of your passwords and accounts, choose a secure place to store it.

5. Provide instructions

Outline how you want your digital assets handled. Do you want your account deleted? Do you want your music or photos shared with a special person? Are there automatic payments that need to be stopped?

As the management of digital assets continues to be integrated into estate planning services, it will become common practice to provide trustees and personal representatives with instructions. Get started on your digital asset inventory today.

Andrew Ayar, honored three times as a Super Lawyers® Rising Star, advises a variety of businesses, entrepreneurs, closely held companies and developers in the corporate, real estate and estate planning practice areas.

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At Strobl PLLC, our attorneys are committed to your team. We collaborate with clients to share our expertise and guide them to success.

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