Estate Planning and Digital Assets

Estate Planning and Digital Assets

Last month Governor Ducey signed House Bill 2467 which adopts the Revised Uniform Fiduciary Access to Digital Assets Act (the “Revised UFADAA”).

Although these types of assets are a form of personal property, the rights, control, privacy, and access are intertwined with several federal and state laws, including but not limited to copyright, intellectual property, privacy law. Such laws leave fiduciaries, such as Personal Representatives and Trustees, with little, if any, legal authority or guidance on how to identify, collect and distribute digital type assets.  The Revised UFADAA is intended to address such issues.

Every individual who owns digital assets (including email, social media accounts, and online photos accounts) should include a digital assets provision in their Powers of Attorney, Will and Trusts.

Laura M. Trujillo
ltrujillo@mclawfirm.colm
480-994-2000