Resources

Digital Asset Entanglement: Unraveling the Intersection of Estate Laws & Technology

From email and social media accounts, to digital memories and collectibles, to cryptoassets and smart contracts, a client’s online presence and digital assets are now a significant consideration in estate and succession planning. As Sheona McDonald, documentary filmmaker who recently released Dead Man’s Switch: A Crypto Mystery, explains in her introduction to this new volume, “Gone are the days of an elderly relative, friend or spouse passing and leaving you with the challenge of what to do with the silverware and good china. Now, even the simplest of estates can leave one with months or, more likely, years of work to do.” And that’s why the publication of this practical volume couldn’t be more timely.

Digital Asset Entanglement: Unraveling the Intersection of Estate Laws and Technology focuses on the ways technology has disrupted the traditionally paper-based estate industry and provides a practical client user personas based framework for global advisors and clients alike. Specialists in their field, the authors illustrate their proposed approach – as well as the importance of digital asset awareness and the challenges associated with managing digital assets – through a comprehensive case study of Quadriga Fintech Solutions, its cryptocurrency exchange, QuadrigaCX, and the estate of its late CEO, Gerald Cotten. The Quadriga bankruptcy trustee case provides a striking opportunity to educate and update estate advisors on the legal and practical technical management considerations surrounding digital assets. Using Quadriga as a backdrop, this text highlights the potential financial and emotional loss that results from digital assets being undisclosed, physically, or legally inaccessible, or if there is a protracted delay in administration. Read more …