GLOSSARY · TAX & ESTATE
Digital asset (estate planning)
In the fiduciary access law most states use, an electronic record in which a person has a right or an interest, such as email, files in cloud storage, social media accounts and the records of online accounts. It does not by itself include the underlying asset: the money in an online brokerage account is governed by the usual rules for that account. Self-custody cryptocurrency, by contrast, is reachable only through its keys.
Also called: digital assets, digital property, online accounts, digital estate
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CHAPTER · DIGITAL ESTATE PLANNING · DEEP DIVEMapping Your Digital EstateCHAPTER · DIGITAL ESTATE PLANNING · DEEP DIVEThe Law Behind Digital AccessRELATED TERMS
SOURCES
- Revised Uniform Fiduciary Access to Digital Assets Act (2015). Uniform Law Commission.