Technology has seeped into every part of our lives; we not only use it at the office and at school, but also stay plugged in constantly while travelling and at home.
Devices like iPads and smartphones are essential to staying connected and are treasured items by all ages. They’re now being insured, put into wills, and are even becoming key items to consider when it comes to key life events like divorce.
Read: Estate planning enters the 21st century and Consider digital assets
And mashable.com says the question of who gets the iPad, for instance, is also becoming more complicated as technology advances. Figuring out who owns which device during a divorce is only the first step, since couples are running into issues like who has cloud access to the family data and who owns the virtual assets in Farmville.
Read: An office in the clouds, for more on the details of cloud computing
Other digital assets dealt with include online accounts such as Netflix, iTunes and photo sharing profiles. If they’re joint, split clients have to decide who uses each account and who deserves to keep them.
Read: Divorce planning for advisors
You should also advise clients to be wary of their posts on social media sites. The American Academy of Matrimonial Lawyers found 80% of divorce cases included social media posts as evidence of infidelity and character over the past five years.