Close X
Attorney Spotlight

After finishing her first year as an associate at Bass, Berry & Sims, find out what advice Margaret Dodson offers to new attorneys. Read more>

Search

Close X

Experience

Search our Experience

Experience Spotlight

On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

CLARCOR
Close X

Thought Leadership

Enter your search terms in the relevant box(es) below to search for specific Thought Leadership.
To see a recent listing of Thought Leadership, click the blue Search button below.

Thought Leadership Spotlight

Blueprint for an IPO

Companies go public to raise capital to fuel growth, pay down debt and provide liquidity to shareholders. Although all issuers and offerings are different, the basic process of going public remains relatively constant. Blueprint for an IPO identifies the key players, details the process and identifies the obligations companies will face after going public.

Read now

Privacy Perils: The Untimely Death of Digital Data

Firm Publication

Publications

April 28, 2017

Many people have thoughtfully gathered information on the location of their bank accounts, deeds, lock boxes, safe combination, car title (and keys), investment accounts, check books, and other assets to make handling their affairs less burdensome for their survivors. This type of inventory also allows the departed to convey their wishes for the disposition of their assets.

However, precious few have left information on the location of their digital assets. These electronic files may be even more difficult to locate after one's death, as there may be no record of even the existence of those assets, much less the type, volume or location. From irreplaceable photos to Quickbooks financial records to genealogy chronicles to an extensive video and music library to the secret recipe for grandma's famous casserole, today we store massive amounts of precious information in the cloud, on portable storage devices, on our laptops, and even on our tablets and phones. These assets may be lost forever unless location and access information is available to your estate administrator. 

Even if you remember to provide a list of that information and its location, it may all be for naught if you forget to leave your device or account passwords. For instance, you won't want the balance in your PayPal or Amazon accounts to become lost in the ether. If you only access your bank accounts online without receiving paper bank account statements, and neglect to provide account login information, your executrix may be extremely inconvenienced trying to access and inventory the account, and make payments for ongoing monthly bills. Moreover, absent the login information, your executrix may be unable to determine which of your ongoing creditors are paid by automatic monthly account draft, and therefore unable to confirm the automatic debits are correct or, when appropriate, cancel those accounts no longer needed (e.g., social organization dues; newspapers and periodicals; internet / cable television / cell phone service; etc.).

Likewise, your executrix will be responsible for cancelling your driver's license, and advising governmental agencies such as the Social Security Administration (your Social Security number) and the U.S. Department of State (your passport number), about your death. However, she can't cancel your Facebook, Twitter, Snapchat or other social media accounts if she doesn't know about it or how to access it. 

Certainly you should not compromise the security of your devices or accounts by "over-sharing" your passwords. However, providing data access information, or at least directions to the location of those passwords, to a trusted family member, friend or advisor may save your executrix and beneficiaries weeks of effort trying to obtain that information after your death. Or even prevent the loss of the data entirely.

So do your loved ones a favor – prepare a detailed inventory of all your valuables, including your digital riches, and regularly update the inventory as your electronic treasury grows and your login information changes. 

Take your secrets to the grave, not your data.

Privacy Perils imageCheck out our series, Privacy Perils, to learn what steps you can take to guard your personal and company data. For more information about this topic and other cyber security concerns, please contact Bob Brewer, Tony McFarland, Elizabeth Warren or a member of our Privacy & Data Security team.


Related Services

Notice

Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.