E-Wills: Electronic Estate Planning May Be In Your Future
You have likely seen a dramatic “reading of the will” portrayed on TV, or in the movies. In reality, this scene rarely plays out. It may become more likely, however, as estate planning increases its reliance on technology. As electronic estate planning laws expand, we will move to comprehensive digital documents and video recording of wills and trusts being executed. These electronic documents and video evidence will be allowed to show the testator’s intent, mental capacity, and the authenticity of a will or trust. Instead of keeping paper documents in a binder, electronic documents and video recordings will be presented to beneficiaries visually, in a new digital world of “reading the will.”
Nevada is a leader among the states, having statutorily allowed electronic wills since 2001. Presently, the rules apply only to wills and testamentary trusts (created within a will), not other trusts or ancillary estate planning documents. While electronic wills are still not widely used, we are seeing a shift toward expanded acceptance of electronic documents, which may broaden our ability to rely upon technology as an integral part of both basic and comprehensive estate plans.
The Nevada statute allowing electronic wills, N.R.S. 133.085, maintains the traditional requirements that a testator must be of sound mind and at least 18 years old, and adds requirements aimed specifically at creating a valid electronic document, including:
The electronic will must be written, created, and stored in an electronic record;
It must contain the date, the testator’s electronic signature, and at least one authentication characteristic;
Is stored so that:
Only one authoritative copy exists;
The authoritative copy is maintained and controlled by either the testator or a person the testator designates as the custodian of the authoritative copy;
Any attempted alteration of the copy is readily identifiable; and
Any other copy is readily identifiable as a copy that is not the authoritative copy.
Under the current law, authentication may be a fingerprint, retinal scan, voice recognition, facial recognition, or a digitized signature. By inference, Nevada’s electronic will statute maintains the two, in-person witness requirement, but this may be changed in the future to allow video-presence. Other jurisdictions allow witnesses to be present with the testator via video conference and allow for the creation of electronic trusts. This means attorneys can facilitate signings when it is not practical for a testator to come to the attorney’s office or otherwise sign with proper formalities. The use of electronic wills, video witnessing, and the potential digital conversion of all of your estate planning matters creates an interesting future in which your estate plan can precede you into the cloud(s).
As life progresses, your needs will change, as will the technology available in creating your estate plan. Regardless of the technology used, consulting a knowledgeable attorney will insure you understand your options and plan in accordance with your goals and desires. At Kling Law Offices, we meld up-to-date legal opportunities with traditional relationship building to help you plan well now and well into the future.
