Preservation | Family Wealth Protection & Planning

One of the many memorable scenes from the movie classic “Ferris Bueller’s Day Off” takes place when Ferris and his friends drop off a Ferrari in a downtown Chicago parking garage. In the scene, Cameron doesn’t trust the car’s safety with the parking attendant, who says to them somewhat indignantly, “Relax … you fellas have nothing to worry about. I’m a professional.” The screen then cuts to the parking attendant and his buddy zooming off in the Ferrari as Ferris and the group go on their way.

On July 14, 2017, Missouri Gov. Eric Greitens vetoed legislation that included a number of provisions related to estates and trusts.

Among the casualties of the veto were several provisions regarding estate and trust matters, the most significant being the Missouri Fiduciary Access to Digital Assets Act. Under this act, a user would be allowed to grant a fiduciary access to his or her electronic records or digital assets in a will, trust, power of attorney or other similar instrument. This issue is becoming more significant with the rise of online banking, trading and other financial services and will only increase in significance as more people abandon paper records for cloud services and other electronic storage. For now, Missouri is left without a uniform statute addressing these issues.