‘ADigital World’ Attorney Craig Hersch Helps You Leave a Digital Trail for Your Family
if your will or trust says to divide all of your assets equally among all of your beneficiaries because a joint account wouldn’t be governed by your will or trust. Third , if the person you have named as a joint owner on the account has any creditor problems, the account you named them on as a joint owner might be at risk. Fourth , if you ever want to change the account and remove the joint owner, that requires the joint owner’s signature to make the changes. While our digital age has definitely made life more enjoyable in any number of ways, it has also added complexity. It may also be a good idea to consult your estate planning attorney to find out how the law has kept up to date with technological advances.
even realize it. Yet this electronic age also creates problems. Sometimes people will actually name a child or other trusted person as a joint account holder to help deal with these issues. While I believe it may be a good idea to add such a person as a signer on the account, I don’t think it’s wise to name that person as a joint owner on the account for a number of reasons. First , as a joint owner, you have legally made a gift to that person of half of the account and continue to make gifts each time you deposit money into the account. Those gifts are limited to the annual exclusion amount, and if you make any more gifts to that person that are above the annual amount in any calendar year, you are required to file a gift tax return. Second , you might thwart your estate plan when making someone else a joint owner on an account. It doesn’t matter
Today’s digital world has made life easier than ever, but it’s also complicated our estate. In his 2018 Island Sun newspaper article, “A Digital World,” attorney Craig Hersch highlights the various ways that technology can be a pain for your loved ones after your passing. You can read the full version of Craig’s column at FloridaEstatePlanning.com. Today I woke up and went for a run with my iPhone, listening to my favorite songs that help keep my pace. I ate breakfast while paying my bills online. I then drove to my office, making phone calls via Bluetooth technology. Once at my office, I worked on client files that are all maintained digitally. None of this was possible only a relatively short time ago. Isn’t that amazing? So many components of our lives are electronic and digital now that we don’t
Inspired by FoodAndWine.com
Cinnamon-Spiced Candied Sweet Potatoes
INGREDIENTS:
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1 tbsp kosher salt 1/4 tsp ground cloves
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4 lbs orange-fleshed sweet potatoes, peeled and cut
1/4 cup unsalted butter, cubed 4 (2-inch) cinnamon sticks
crosswise into 2-inch pieces, then cut lengthwise into 1-inch wedges 1 cup light brown sugar, packed
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DIRECTIONS: 1. Preheat oven to 350 F. 2. Place sweet potato wedges in a 4-quart baking dish. 3. Sprinkle sugar, salt, and cloves over sweet potatoes. 4. Dot with butter and place cinnamon sticks around sweet potatoes.
5. Bake, turning every 15 minutes, until sweet potatoes are tender and the liquid is syrupy, about 1 hour and 15 minutes. 6. Remove from the oven and let stand for 10 minutes. 7. Discard cinnamon sticks and serve.
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