Cleaning Up the Remnants of the Deceased: Marcel Sonnenberg's Task
Managing Estates in the Digital Age: Challenges and Solutions
In the world of estate administration, executors and administrators face a multitude of challenges that require a blend of legal knowledge, communication skills, and technical expertise. Marcel Sonnenberg, an executor and estate administrator, shares his insights on these complex issues.
Common Challenges for Estate Executors
Executors often grapple with disputes among beneficiaries, creditor claims, missing assets, procedural errors, executor disputes, mismanagement of assets, and poor communication with beneficiaries. These challenges can lead to costly delays and legal repercussions.
Digital Assets in the Inheritance Process
Digital assets, such as cryptocurrencies, online bank accounts, social media, email accounts, digital photo libraries, and digital wallets, present unique challenges for executors. Accessing these assets requires credentials or login information, which may not be readily available. Proper planning by the deceased, including maintaining a secure digital estate plan, can help executors manage digital assets post-mortem. However, such plans are not always available.
Executors must identify, locate, and secure digital assets early in estate administration to prevent loss or unauthorized access. Accessing digital assets often requires legal authority, such as court orders or explicit permission, due to online platforms’ terms of service and privacy rules. Expert guidance from attorneys familiar with digital estate law may be necessary to navigate access rights and ensure proper valuation and distribution.
Marcel Sonnenberg, a seasoned estate administrator, advises keeping keepsakes and photos with the next generation to prevent someone from breaking into the apartment later and taking something. He also emphasises the importance of transparency, discussing wealth with heirs, and avoiding hiding a will in the back of a closet, which may lead to confusion and misinterpretation.
In summary, estate executors face complex challenges from interpersonal conflicts, legal compliance, asset management, and modern issues like digital assets. Successful handling requires a mix of legal knowledge, detailed record keeping, communication skills, and sometimes court involvement, especially to manage digital assets securely and lawfully. Digital asset management remains one of the newer and more technically demanding aspects of probate administration.
References:
[1] Estate Administration 101: Common Challenges for Executors and Administrators. (2021). Retrieved from https://www.nolo.com/legal-encyclopedia/estate-administration-101-common-challenges-executors-administrators.html
[2] Executor Disputes: What to Do When There's a Dispute. (2021). Retrieved from https://www.nolo.com/legal-encyclopedia/executor-disputes-what-do-when-there-s-a-dispute.html
[3] Estate Administration: Best Practices for Communicating with Beneficiaries. (2021). Retrieved from https://www.nolo.com/legal-encyclopedia/estate-administration-best-practices-communicating-beneficiaries.html
[4] Estate Administration: Compensation for Executors and Administrators. (2021). Retrieved from https://www.nolo.com/legal-encyclopedia/estate-administration-compensation-executors-administrators.html
[5] Personal Liability of Executors and Administrators. (2021). Retrieved from https://www.nolo.com/legal-encyclopedia/personal-liability-executors-administrators.html
During the process of managing estates in the digital age, in addition to traditional challenges, executors and administrators may encounter issues related to community policy and employment policy regarding digital assets, as well as the need for vocational training in dealing with these modern resources. For example, sports data might be stored digitally and require strategies for its management and distribution. When handling digital estates, experts suggest that executors consider the importance of transparency, keeping beneficiaries informed about the process and decisions made, similar to the emphasis placed on keeping beneficiaries aware of family wealth and assets in a non-digital context.
