Estate Planning and Digital Assets in Ohio

digital assets estate planning

Who Can Access Your Digital Assets In The Event Of incapacitation or Death? RUFADAA In Ohio Explained.

digital assets estate planning

Whether it be on-line bank accounts, social media accounts, e-mail accounts, etc., most people today have digital assets. When one becomes incapacitated or deceased, how does a fiduciary gain access to this information? First, one must become familiar with the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA).

Ohio, like a number of states has adopted RUFADAA. To read ORC Section 2137.01, click here. RUFADAA defines “digital asset” as an electronic asset to which a person has a right or interest.  The extent to which a fiduciary has access to this information is determined under RUFADAA as follows:

First – The account custodian may have an on-line tool through which the user has provided direction as to the extent digital assets can be revealed to third parties.

Second – If number one does not apply, the owner can designate in estate planning documents (POA, Will, Trust) who can access this information and to what extent.

Third – If neither one nor two apply, the account custodian’s terms of service apply.

Fourth – If the terms of service do not address

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