Digital assets and estate planning

August 25, 2019

These days, technology consistently outpaces the laws that attempt to regulate it, and people may not realize the value and extent of their digital records or the potential for financial loss if these assets are lost or inaccessible.

When a client dies, it can be difficult to define the fine line between a fiduciary’s right to access and the decedent’s privacy. Although digital assets should be considered a form of property, the rights to access these assets are anything but straightforward. While federal laws regarding access to a decedent’s digital assets often limit a fiduciary’s ability to do so, in 41states the Revised Uniform Fiduciary Access to Digital Assets Act allows fiduciaries more power if they have written consent.

These issues demand attention during estate planning, and there are many planning techniques for protecting a client’s digital assets. Learn more here.

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