Authorizing Access to Digital Assets: Using Online Tools in Estate Planning
A look at managing digital assets on an account holder's death or disability, through New Jersey's Uniform Fiduciary Access to Digital Assets Act, as well as the frameworks of online tools such as Apple, Google and Facebook.
March 17, 2022 at 10:00 AM
10 minute read
Trusts and EstatesThe Revised Uniform Fiduciary Access to Digital Assets Act (the "Uniform Act"), introduced in 2015 and adopted by New Jersey in 2017, addresses the management of digital assets on an account holder's death or disability. The Uniform Act attempts to balance the practical need for a fiduciary's access to digital assets against the privacy interests of the original account holder and federal privacy and computer hacking laws (e.g., the Stored Communications Act, 18 U.S.C. §§2701 et seq. and the Computer Fraud and Abuse Act, 18 U.S.C. §1030). The Uniform Act also satisfies the need of service providers for a consistent and standardized framework that can be relied upon when responding to requests for disclosure. Since its introduction, 46 states have adopted or introduced some form of the Uniform Act.
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