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