The unparalleled growth in our digital lives has brought forth challenging legal questions. One such question revolves around what happens to our social media and other digital assets when we die. Fortunately, most states, like Maryland, have enacted laws to mitigate the complications that arise in such cases. Maryland’s law, called the “Fiduciary Access to Digital Assets Act,” exemplifies this kind of legislation.
This act, which is codified in Md. Code Ann., Est. & Trusts Art., Title 15, Subtitle 6 (“ET”), allows a person, or a “user,” of digital assets to designate someone who can access specified assets after the user’s death or disability.
To illustrate, if someone has a Facebook, Twitter, or LinkedIn account, that person can formally authorize a contact to inherit control of these accounts after their death. Far from being limited to social media, the term “digital assets” also encompasses email accounts, online storage, and more.
This law is crucial for legal professionals in corporations or law firms to understand because the fiduciaries or representatives they serve need guidance on accessing and managing these digital assets. The act’s relevant feature is the ‘online tool,’ through which users can provide or deny consent for the disclosure of digital assets to a chosen representative.
This act has a profound implication in the legal world. It serves as an essential reminder for legal professionals to discuss digital estate planning with their clients. Not only should clients understand what their digital assets are, but they should also know how they can effectively manage and delegate these assets.
For a comprehensive reading on the subject, you can refer to this detailed article on the topic “And When I Die…. What Happens to My Social Media?“. The article provides a detailed analysis of Maryland’s law and its implications on estate planning.
In conclusion, given the ever-increasing importance of digital assets in our lives, legal practitioners should stay informed about such statutes that govern fiduciary access to a person’s digital assets after their death or disability.