Estate plans may soon need to address digital assets.- The reason is because of the innovation of Artificial Intelligence (AI).
Understanding digital assets and your estate plan
In short, AI creates images by manipulating and compounding existing data collected over years by millions of users. Then AI transforms the data based on the inquiry or programmers’ needs and demands, generating a video or text output that satisfies the goal of the user. It will not be long in the future when images and voice recordings of a person (living or dead) will be capable of producing animated life-like 3-dimensional images of the person’s likeness. Holographic avatars can take direction, respond to questions, and even move in fluid motion, reflecting an individual’s unique personality traits. It may be almost impossible to determine if the final product is real or fiction.
How does this apply to you and I? Imagine your loved one’s image being prominently featured in the media. But while that person’s political views were highly conservative when they were alive, that image can be used convincingly in a way that contradicts their personal values.
How else may this technology apply to you? Things or causes you may not want to be associated with if you were alive may now become your after death image and you may not have control of what happens after you die. Your trustee or executor could sell the rights to use your image to a casting agency or other service provider without any limitations…giving that organization the freedom to sell and place your image in whatever media they desire. And you had no say.
After reading this blog you may want to discuss digital properties in your last will and/or trust, maybe even your power of attorney. Give it some thought.
To discuss your NJ estate planning matter, please contact Fredrick P. Niemann, Esq. toll-free at (855) 376-5291 or email him at fniemann@hnlawfirm.com. Please ask us about our video conferencing or telephone consultations if you are unable to come to our office.
By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold Township, Monmouth County, NJ Estate Planning Attorney