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Michigan Governor Signs "Fiduciary Access To Digital Assets Act" Into Law

Friday, April 8, 2016 • by Dania McDermott

Michigan Governor Rick Snyder recently signed the “Fiduciary Access To Digital Assets Act” into law. What does this mean, exactly?

Here’s the gist:

Residents of Michigan can now use a Will to specify who should assume ownership of their digital assets once they die. This is exciting for a few reasons:

  • First, surviving family members won’t be subject to the lengthy verification processes imposed by most online service providers before they’ll grant access -- the deceased’s chosen beneficiary will be legally entitled (though we can’t say there won’t be some process involved).
  • Second, the law ensures -- for Michigan residents, at least -- that one’s digital assets are maintained (or disposed of) in accordance with their preferences, not those of the issuing company.

The catch? You must create a Will. And you must specify who'll inherit your digital assets. Bonus points for including them in your Everplan.

Read the full text here.