LegalZoom Empowers Consumers to Take Control of Their Digital Assets
GLENDALE, Calif., Feb. 14, 2012 /PRNewswire/ — LegalZoom, the nation’s leading provider of online legal solutions, is now offering Digital Asset specification in their Last Will and Testament documents. Digital or electronic assets refer to any online account that a person owns or any file stored on a person’s computer, or in the cloud – including photos, memoirs, music, social networking content — even a virtual business.
“Storing information and personal mementos electronically has become a part of everyday life, but these items are often overlooked by estate planning attorneys,” said Brian Liu, attorney and co-founder of LegalZoom. “I’m proud that LegalZoom is innovating to ensure that these valuable digital assets do not get lost or forgotten.”
A 2011 survey conducted by MSI International found that Americans placed an average financial value of almost $55,000 on their personal files of photo libraries, entertainment and other digital files.
“The rights of executors, agents, guardians, and beneficiaries are still unclear when it comes to digital assets,” said Paul Kassabian, estate planning attorney and LegalZoom product architect. “The best way to avoid going to court and fighting for legal authority to access those assets is to include specific instructions in a will or living trust. Practically speaking, instructions not only tell your friends or family how, but where to access digital and electronic gifts.”
Without digital asset specification in a will or living trust, account provider policies on accessing someone’s assets when they die are vague, and range from providing a death certificate to requiring a court order. Timely access to online accounts is critical, not only to close probate, but also to protect the deceased’s identity against theft, pay any electronic bills, and handle any corporate or payroll accounts if an online business was being run.
LegalZoom is the nation’s leading provider of online legal document services and legal plans to families and small businesses. The company was founded by top talents in law and technology to make legal protection more accessible and affordable. LegalZoom is not a law firm. It provides self-help services and legal plans where customers have access to attorneys at a fixed monthly fee. The company is headquartered in Glendale, California, with regional headquarters in Austin, Texas. For more information, visit www.legalzoom.com.
CONTACT: Justin O’Neill, +1-415-844-6261