Revised Uniform Fiduciary Access to Digital Assets Act

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The Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) is a law developed primarily by the Uniform Law Commission (ULC) to provide fiduciaries (like executors and attorneys-in-fact) with a legal path to managing the digital assets of deceased or incapacitated people. The legal experts at the ULC wrote the law as a guideline for states to consider and adopt. Most states have either enacted the law or are in the process of doing so.

RUFADAA gives fiduciaries certain powers to manage digital assets. Still, it also attempts to provide some privacy protections for the “owners” of the digital assets, as well as legal protections for “custodians” (the businesses who make, store, or provide digital assets.) Balancing the fiduciary’s interests, the owner, and the custodian was a challenge, and it took a few tries to draft a law that minimally satisfied all parties.

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