Navigating Digital Assets When Settling an Estate
April 9, 2024 | Tyler W. Eubank
Navigating the estate settlement process after the death of a loved one is an emotional and confusing matter for many people. The existence of password-protected online accounts can further complicate this process. So, what can you do about these “digital assets”? Keep reading to learn more on the specifics of navigating digital assets when settling an estate. Revised Uniform Fiduciary Access to Digital Assets Act The Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) is a uniform law that has been adopted by nearly all U.S. states, including Minnesota. RUFADAA dictates which digital assets fiduciaries may or may not gain access to when settling an estate. A digital asset is any electronic record in which a person has an interest. This encompasses basically any online account you may have, such as online banking service accounts, accounts from which you pay bills, email, social media, cloud-based storage, and more. Plan Ahead When it comes to digital assets, the best thing that you can do is plan ahead. Make sure your estate plan explicitly authorizes or prohibits access to your digital assets. Keep account usernames and passwords somewhere safe where they can be accessed by a trusted individual in the event of your passing. Many accounts also allow you to designate someone to take…
Read MoreCommon Motorcycle Accidents and How to Avoid Them
April 4, 2024 | Adriel B. Villarreal
With the arrival of spring, motorcyclists are returning to the roads to capitalize on the warmer weather. But with increased traffic comes an increased need for safety. Motorcyclists are at greater risk for serious and fatal accidents than other motorists for several reasons. Motorcycles are smaller than cars and don’t offer the same protection. Many drivers don’t think to watch for motorcycles either, especially if they have never ridden one themselves. In this blog, we’ll examine three of the most common motorcycle accidents, how to avoid them, and how drivers and motorcyclists can safely share the road. The Left-Turning Car The most common collision involving a motorcycle occurs when a car turns left into the path of a motorcyclist. This usually happens when a driver is sitting at an intersection, waiting for a gap in oncoming traffic to make their left turn. The driver may not notice an approaching motorcycle due to its small size, or they may see it but underestimate its speed and attempt the turn anyway. If you are a driver waiting to turn left, pay careful attention to oncoming traffic and watch for motorcycles. Remember that despite their small size, they move as quickly as cars and should be treated with the same caution. If you are a motorcyclist…
Read MoreThe Benefits of Prenuptial Agreements
March 1, 2024 | Jason C. Brown
Prenuptial agreements, often referred to as “prenups,” are legal documents designed to outline the division of assets and financial responsibilities in the event of divorce or the death of one spouse. While some people may view prenups as something that is negative or unnecessary, prenups can offer significant benefits for couples entering into marriage. Continue reading as we explore the benefits of prenuptial agreements. Asset Protection One of the primary benefits of a prenuptial agreement is the ability to protect your assets that you acquired before your marriage. This is important for individuals who have substantial assets, such as real estate, investments, or business interests. A prenup will specify which assets will remain separate property and which will be considered marital property, providing clarity and protection in the event of divorce. Debt Protection In addition to protecting assets, a prenuptial agreement addresses how debts will be handled during the marriage and in the event of divorce. Without a prenup, spouses may be liable for each other’s debts accumulated during the marriage, even if they were incurred independently. A prenuptial agreement can specify that each spouse will be responsible for their own debts, providing peace of mind and financial security. Protection of Your Family Assets Individuals with children from previous relationships may use prenuptial…
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