With the growth of social media and cloud computing, the contents of digital accounts are becoming significant assets. Until the enactment of the Fiduciary Access to Digital Assets Act, courts in Michigan and technology companies were frequently at a loss as to how to grant access to these assets.
In recognition of the need to clarify ownership issues regarding digital assets, the Michigan Legislature enacted the Fiduciary Access to Digital Assets Act, which goes into effect in June 2016. This act will make it easier for personal representatives to gain access to digital assets during the probate process, such as:
The Michigan Fiduciary Access to Digital Assets Act puts control of digital assets in your hands. It allows you to designate who will be able to access your digital assets and what action should be taken with them. Your fiduciary may be directed to share, archive, retain or delete those important aspects of your online presence.
Our law firm is ready to help. Contact the real estate and estate planning attorneys at Galloway and Collens, PLLC.