GRAND RAPIDS (G.R. Business Journal) -- We have numerous online accounts - photo and document storage accounts, online banking and brokerage accounts, music, movie, eBooks and other entertainment accounts, social media accounts, virtual stores where we sell products - the list goes on and on.
So in a world where much of our life is located online, what happens to those accounts and assets when we die or if we become incapacitated?
Attorney Daniel Borst, an estate planner at Warner Norcross, said current laws have not kept pace with the online world, and in many cases it is unclear how online accounts and assets should be handled upon death or disablement.
"There is a lot of gray area in this field," Borst said. "The Stored Communications Act gives some guidance to online companies as to what information they can give to third parties, and it also gives guidance as to who can access your online accounts."