Post By George in Estate Planning - Things
Developments at the intersection of medical technology and the laws governing estates continue to break new legal ground. A man facing treatment for an illness deposited sperm in a lab; the contract asked about disposition in the event of his death, and he requested that the material be destroyed. After his death, parents/administrators sought the sperm for purposes of artificial insemination; held, the estate had no special right to the sperm. Speranza v Repro Lab Inc., 2009 NY Slip Op 01543.
Post By George in Estate Planning - Things
Digital estate planning” is increasingly important for people of all stripes, and it’s not just “inventory” in games like World of Warcraft or passwords to not-quite-PG-13 websites. Lots of folks you know have (i) ordinary assets (like money) online (funds at PayPal or at a poker site) and/or (ii) digital assets or rights (domain names; a shop on eBay). As the digital world continues to mainstream, ask yourself: “What would my spouse/executor miss?” Consider listing your online accounts “for the file” – with or without passwords. Suspenders-and-belt types might explore the nascent online services offering to catalog the world of digital property. P.S. - Does your avatar have a will?
Post By George in Estate Planning - Things
Notwithstanding the recent hullaballoo about the late Leona Helmsley’s disputed trust for dogs, the more mundane reality is that NYS law has long provided for such arrangements (EPTL 7-8.1) and the use of such trusts is downright quotidian. Any pet owner who wants to designate someone specific to care for a pet, or to provide funds for a pet’s care (whether long term or just until a new home can be found), or to make any kind of special arrangement, should consider making specific provisions in his or her will. Your pet will thank you!
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