When your life flashes before your eyes moments before you die, you likely won’t be thinking about your tweet count, your Farmville assets, your Bitcoins, your iTunes play-lists, or how many “likes” your last status update received. However, a new law is aimed at helping your family access and manage those accounts after you die. Called the “Uniform Fiduciary Access to Digital Assets Act,” it is a model law, serving as a blueprint to help states address this growing issue.
According to global computer security tech leader McAfee, Americans estimate that their digital assets are worth approximately $55,000. These digital assets include music, movies, gaming credits, client lists and photographs. It has never been clear exactly what happens to those items when you die or who will be able to access them.
News headlines often contain stories about parents or spouses who sought access to their loved ones’ social media accounts for personal or financial reasons, only to be stonewalled by Facebook, Twitter and other platforms that required a court order before turning over any account information. Regardless of whether the legislation is adopted by states or not, it is important to protect your digital assets as part of your estate plan.
To learn more, read PLDO Partner Brian Lamoureux’s Providence Business News commentary, entitled Where do tweets go when you die – hint, not to heaven. To contact Attorney Lamoureux, call 401-824-5100 or email .