“What’s that password again? Where did I write these log-ins down again? Was it this password or the one I came up with three years ago?” Consider the daily frustrations we encounter with the bevy of passwords we need for logging into work, online banking, medical portals, work-related websites, publications, or buying tickets (to name a few)—and now imagine you have to access information on behalf of a deceased or incapacitated individual. Luckily, the Pennsylvania legislature recognized some of the issues around digital assets and passed the
Revised Uniform Fiduciary Access to Digital Assets Act (the act) to provide personal representatives, guardians, trustees and other agents with access to digital assets, even if held by a private third-party company. There are some key points individuals should understand about the scope of the act and how it can help those responsible for administering an estate or managing assets for someone unable to do so.
Digital assets—what are these, exactly?
These assets are electronic records that are uniquely identifiable and accessible to individuals. Examples include:
- Email and social media accounts
- Blogs
- Online financial accounts
- E-commerce accounts
- Streaming platforms
- Cryptocurrency
- Cell phone apps
- Gaming identities/information
- Digital photographs, videos, audio recordings
- Written documents
Most people have significant digital footprints, so it may be helpful to compile a list of memberships, subscriptions and other log-ins in case a representative needs to access them on your behalf. Some people may consider providing the details, including passwords, to their trusted representatives, but of course, doing so brings a bevy of privacy concerns (and may violate the terms and conditions of certain services).
What does the act do?
Most importantly, the legislation allows individuals to empower agents, representatives or trustees to access, modify and delete the individual’s digital assets, even those held by private companies such as Apple or Facebook¸ which have been resistant to supplying information, claiming privacy issues. The latter has been a point of contention, so it is especially notable that the law makes clear that authorized representatives can access privately held information.
What does this mean for estate planning purposes?
Pennsylvania residents should review their will and power of attorney to ensure the documents cover their digital assets. Consider the extent of the access you will allow for representatives—are you comfortable with the executor or agent seeing every text message, photograph, or email stored in your email account? Could there be ramifications for anybody else if a third party gains access? Are there professional considerations to this access as well? For instance, if your work email is available on your cell phone, there may be proprietary or client information that outside parties should not be able to view. Similarly, if you run a business or generate income through digital assets, your will may need to be altered to protect these assets under the act.
In order to access online banking, bill pay and other financial accounts, consult with an attorney to confirm that your estate plan adequately covers your digital assets.
Conclusion
We live in an increasingly digital world and it is all too easy to assume the apps and services we use every day are part of the standard estate plan. Pennsylvania’s Digital Assets Act serves as a good reminder that digital assets must be addressed in any will or power of attorney and should be factored into any comprehensive estate plan.
