Pub. 3 2013-2014 Issue 4

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S January • February 2014 21 merge with some other company? Banks that do estate planning can help because they have probably gainedmultiple experiences dealing with such companies. Although these companies are not old, a banker who has had multiple interactions with them is in a better position to evaluate their services than people whose only concern is their own estate. Another issue to consider is exactly how much personal information should be given to a company that stores informa- tion, like passwords and account numbers. Is it really wise for a bank customer to go to an online website and enter all kinds of personal information? Although these companies might play a real part in someone’s plans for a digital legacy, it’s still good idea to have guides for both the legal and the banking aspects. Facebook, which is breaking considerable new ground over the issue of privacy, requires special handling andmay represent another time for expert counsel. When people sign up for Facebook, the last thing on their mind is what will happen to their account when they die. But for 5 million people who died after setting up their Facebook account, their families have been left to deal with a problem. Unless someone lets Facebook know that a person has died, the Facebook page is still going to be there. That means a person’s friends and family will continue to see a profile picture on their own pages, and Facebook will also continue suggesting friends. Understandably, getting the suggestion to friend someone who is already dead can make the grieving process harder. Banks that provide estate services can help by providing backup when friends or family contact Facebook with proof of a death, such as a link to an obituary. A page can either be re- moved or converted to a memorial page. It won’t have any status updates or group affiliations, but existing friends can continue to look at the profile and post comments. What friends and family currently cannot do is get a password fromFacebook that would allow them to access private messages, but here again, advice and possible intervention froma trustedmember of the planning team might be essential. Although life is definitelymore complicated than it used to be because of social media and the Internet, the same issues exist that have always existed. People want to provide comfort and closure to their families and friends. Bankers should encourage their customers to include them in digital-estate plans, just as banking customers would when making other important final plans about their life and legacy. n The newsLINK Group, LLC is a marketing firm that specializes in communication strategies for nonprofits, trade associations, and professional service firms. Nationally recognized for our corporate, regulatory, and litigation practices for community banks. • Affiliate T ransactions • Asset-Based Lines of Credit • Bank Operations • Brand Banking • Compliance & Disclosure • Consumer Finance • Credit Document Drafting and Review • Creditor’s Rights/Bankruptcy • DeNovo Financial Institutions Charters • Factoring • Foreclosures and Collections • Holding Company Formations • Lender Liability • Lending Limit Advice • Leveraged Acquisitions • Litigation • Loan Originations and Modifications • Loan Restructuring • Mergers and Acquisitions • New Product Development • Project Finance • Recapitalization • Regulatory Advice • Regulatory Enforcement Defense • OREO Disposition • Stock Offerings • Strategic Planning • Subchapter S Corporate Restructuring • Uniform Commercial Code • Use of ESOPs Contact: Karen L. Witt | 303.623.9000 | www.LRRLaw.com ALBUQUERQUE | CASPER | COLORADO SPRINGS | DENVER | LAS VEGAS | PHOENIX | RENO | SILICON VALLEY | TUCSON O ering a range of legal services to our banking community: Acquisition of Lewis Roca Rothgerber Represented FirstBank November 2013 Palm Desert, CA Marketplace Branch of  DIGITAL LEGACY – continued