There have been many estate planning developments on a state level this year. Advances in technology have created the need for estate planning legislation in areas concerning children conceived after one or both parents die, and digital assets. New legislation in New York allows after born children to be included in class gifts under certain circumstances and if all required conditions are met. However, Nebraska indefinitely postponed consideration of a similar bill. In the realm of digital assets, the Uniform Fiduciary Access to Digital Assets Act was approved by the Uniform Law Commission this year and was used as a basis for Delaware’s new digital assets law. Two states, Florida and Oregon, will consider digital asset bills in 2015. For more developments in estate and gift tax, decanting, domestic asset protection, estate planning for pets, and portability by state see the link below.
See Sharon L. Klein, The State of the States: 2014, Wealth Management, Dec. 22, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
