The Uniform Fiduciary Access to Digital Assets Act

The Uniform Fiduciary Access to Digital Assets Act (July, 2014) is important legislation for all of us with online accounts.  We’ve evolved from previous generations who relied on paper transactions for bills, files, mail and photos!

Today, we are online to communicate and store our information more than ever. This Digital Assets Act ensures account-holders retain control of their digital property and can plan for its ultimate disposition after their death. Unless the account-holder instructs otherwise, legally appointed fiduciaries will have the same access to digital assets as they have always had to tangible assets, and the same duty to comply with the account-holder’s instructions.

In settling things after my mom’s death last month, I realized how different our day to day lives had been.  She had had no online accounts, no apps, no social media accounts – everything in her world was paper!  I have been following this Digital Assets Act since last summer.  I write about this today to bring awareness of this ever important issue that will impact so many of us and future generations.

I know I take for granted that “an account is an account”, yet what if my Power of Attorney was not legally granted access to my online accounts?  How would any Power of Attorney even know what accounts exist?  How will anyone act in the best interests of another as their Power of Attorney, without access to online accounts if the law does not grant access to digital assets?  Hmmm, this gives me cause for pause.  No longer will snail mail deliver statements to even prompt a follow-up!  SO, it is indeed up to each of us to consider the impact  numerous online accounts has upon an estate and relay information and wishes to others!

I have a question for you.  How easy would it be for someone to walk into your shoes today without missing a beat in your day to day life?  Do you have access to resources and/or the motivation to help you get started?

The Living Planner provides resources for anyone to begin planning, discussing and tracking this and so much more. Contact Lynn www.thelivingplanner.com or Lynn@thelivingplanner.com for additional information.

May you live life fully, Lynn

FYI, if you are interested in further detail, Delaware enacted this Act into law in 2014.  Below is a reference listing of states who have begun the legislative process for this Act to be brought forward for a vote.