The Michigan Fiduciary Access to Digital Assets Act gives legal permission for people falling within certain categories to access your digital assets, which include any digital record that belongs to you, or any account that you have online that requires a password. Digital assets include things like bank accounts, social media accounts, and email accounts. In order to be eligible to access your digital assets, an individual must be one of the following:
- A person acting under a will or power of attorney
- The personal representative of a probate estate
- The trustee of a trust created by the owner of the digital assets
- A court-appointed conservator
The Michigan legislature enacted this law in order to keep up with ever-changing technology. Companies who own digital accounts or platforms have a duty to maintain online security and privacy. This duty traditionally has included refusing fiduciaries to access another party’s digital assets, even if the person was deceased. The companies who own the digital assets are referred to as digital custodians for the purposes of the Act. Now, individuals who are attempting to handle a deceased individual’s affairs can get the digital assets that they need from digital custodians in order to close out those accounts or get information that they need. However, the individual accessing the deceased’s digital assets has the same fiduciary duty as he or she has with respect to physical assets.
In order to access digital assets, an individual must submit a written request to the digital custodian, along with proof that he or she falls within one of the categories that permits access to another’s digital assets. The digital custodian has 56 days to respond.
At Legacy Law Center, we are Michigan estate planning lawyers who dedicate our practice to protecting your interests, as well as the interests of your family. Creating a comprehensive and effective estate plan is no small task, and we know that you will need guidance in navigating through this often complex process. Call our Ann Arbor office today to set up an appointment and learn how to best protect yourself and your family.
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