What Are Digital Assets
Digital assets include cryptocurrency, online banking accounts, social media profiles, digital photos and documents, domain names, and any account with monetary or sentimental value.
Legal Framework
The Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) provides a legal framework for fiduciary access to digital assets, but its adoption varies by state.
Planning Strategies
Create a comprehensive digital asset inventory, designate a digital executor, use a secure password manager, and include specific provisions for digital assets in your estate plan.
Cryptocurrency Considerations
Cryptocurrency presents unique challenges because access depends on private keys. Without proper planning, cryptocurrency holdings can be permanently lost upon the owner's death.