Why Modern Digital Estate Planning and Password Sharing Don't Mix

BOSTON, Oct. 26, 2017 /PRNewswire/ -- Directive Communication Systems (DCS), Inc., the leader in digital asset management and directive services for estate planners, today announced it was recognized by NetChoice in a special report for its lawful, effective and secure services. The report issued by the Internet's public policy advocacy organization strongly advises estate planners seek lawful, effective and secure ways to protect digital assets like DCS which does not require account or password sharing. 

The report describes the challenges of planning for digital estates and potential consequences to estate planners arising from improper advice concerning the use of passwords to protect digital assets and online accounts, specifically:

• Why Digital Asset Planning is essential
• The impact of The Computer Fraud and Abuse Act (CFAA) on password sharing
• A summary of recent precedent setting circuit court rulings that have held non-compliance with TOSA violates the CFAA and liability under other computer laws
• Why password sharing is ineffective and insecure
• Emerging Digital Asset Management Solutions
• Overview of digital assets protocol among 26 of the Internet's leading service providers

Currently there are 2,566 American internet service providers [ISP's] and more than 1 billion websites worldwide. Online service policies, which govern the contractual relationships between providers and users, differ widely. This leaves advisors and heirs with a potential problem in legally obtaining important digital financial and other family assets. At the same time, estate planners risk civil liability and violation of the Computer Fraud and Abuse Act (CFAA) for advising clients on the improper use of password sharing.  Since 2005, the percentage of American adults with social media accounts has risen from 5% to 69%, often with as many as 7 social media accounts. Many also have other digital assets including email, cyber currency like Bitcoin™ domain names and photos. A 2015 Dashlane™ study, reports that the average US web user has around 130 online accounts and expects that number to increase dramatically to 200 by 2020.

"Professional estate planners and clients should seek lawful, effective, and secure ways to protect their digital assets that don't require account or password sharing," said Carl M. Szabo, NetChoice Senior Policy Counsel. We found several companies providing estate management solutions but only one, DCS did not require account passwords," said Szabo. "This no password solution can help estate planners avoid violating federal and state laws and website privacy policies and Terms of Service."

"We are thrilled to be providing a simple secure service to collect, organize and maintain a client's digital assets, online accounts and final account directives without need for passwords," said Lee Poskanzer, founder and CEO of Directive Communications System (DCS).  "In addition to providing protection from violating federal or state laws, our no password solution provides the added benefit of minimizing ID theft and fraud."

This white paper co-authored by Carl M. Szabo and Jacklyn Kurin of NetChoice can be downloaded here .

About Directive Communication Systems - Directive Communication System (DCS) is the market-leading guardian of digital assets. We serve estate professionals, individuals planning their estates, loved ones left behind, fiduciaries and website owners. DCS is the only digital estate management solution to exceed requirements of federal and state laws and website Terms of Service.  http://www.directivecommunications.com Twitter: @directivecomms

About NetChoice - NetChoice is a public policy advocacy organization that promotes Internet innovation and communication and fights threats to online commerce at state, federal and international levels.  www.netchoice.org.

SOURCE Directive Communication Systems, Inc.

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