On July 13, 2020, the Pennsylvania Senate passed SB320, adopting the Revised Uniform Fiduciary Access to Digital Assets Act. Developed by the Uniform Law Commission (ULC), the act provides fiduciaries such as executors and agents under powers of attorney the legal means to manage the digital assets of deceased or incapacitated people. This book provides a review of the act, its background, and its practical application to estates, trusts, powers of attorney, and guardianships. It covers the law's effects on digital assets, including emails, other electronic records, cryptocurrencies, and block chain.
Summary of Contents
- The Pennsylvania Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA)
- Why Is RUFADAA Necessary?
- RUFADAA and PA Change
- Estate Administration and Financial Institution Perspective
- Estate Planning & Drafting Wills/POAs/Trusts/Guardianships
- Overview and Planning Considerations for Cryptocurrency, Blockchain Technology & Other Digital Assets
- Industry Experience