Chayet & Danzo, LLC Chayet & Danzo, LLC
Call for a Free Initial Consultation
Direct 303-355-8500
Toll-Free 1-866-873-6596
Email Us
Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

Fiduciaries will soon have access to digital assets

In our recap of the latest legislative session, we get to revisit a subject from last summer: digital assets. Colorado has enacted the Revised Uniform Fiduciary Access to Digital Assets Act. It will become effective at the beginning of August.

Last summer, in our July 2nd post, we talked about Delaware leading the nation in passing the legislation. The new law should streamline the job of personal representatives when it comes to accessing online accounts.

Using “online tools” to express your wishes

The law explains when a personal representative, trustee or conservator can gain access to online accounts. It also balances the burden placed on entities such as banks, Google and Facebook.

Online tools available through certain platforms are stressed. These are provided by companies, so that people can leave directions whether or not they want accounts to be turned over to a third party. Some of these tools are:

  • The Google inactive account manager – this allows you to list a “trusted contact” who is provided with instructions for accessing your account if the account remains inactive for a significant time.
  • Facebook legacy contact – is another way to say who should manage a Facebook account after it is memorialized.

Other tools also exist to store online account passwords and direct platforms when to disclose information to a trusted person. But keep in mind that these directions may override a conflicting provision in your will, trust or power of attorney.

The act provides default instruction for various fiduciaries. We will detail these in a future post.

As more of our estates move online – consider photo, music and movie libraries – these assets should not be overlooked. When you have questions about the estate administration process, seek legal advice from an experienced estate law attorney.

No Comments

Leave a comment
Comment Information

Watch Our Firm Video

We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

View More Videos

Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Toll Free: 1-888-472-1088
Phone: 303-872-5980
Fax: 303-355-8501
Denver Law Office Map

Edwards Office
105 Edwards Village Blvd.
Edwards, CO 81632

Toll Free: 888-472-1088
Toll Free: 1-888-472-1088
Fax: 303-355-8501
Edwards Law Office Map

Aspen Office
600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

Toll Free: 888-472-1088
Toll Free: 1-888-472-1088
Fax: 303-355-8501
Aspen Law Office Map

  • Rated by Super Lawyers Macro Chayet
  • Rated by Super Lawyers Frank J. Danzo, III
  • Member National Academy of Elder Law Attorneys, Inc. TM
  • Avvo Rating 10.0 Superb Top Attorney Elder Law
  • 2015 Five Star Professional Wealth Manager Multi-Year Winner
  • Our new 2015 Medicaid Book: how to protect your Family's Assets from devastating nursing home costs
  • Proud Sponsor 2015-Denver Colorado Senior Law Day
  • Peer Review Rated For Ethical standards & Legal Ability TM Martindale Hubbell
  • Haystack