Estate planning used to be about filing cabinets and safe deposit boxes. Today, a significant portion of our lives exists on servers and in the cloud. From family photos to financial accounts, digital assets can be just as important as physical property. However, these items require specific legal attention to ensure they remain accessible to the people you choose.
How Arkansas law handles your online accounts
Arkansas has adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), a law designed to address what happens to your online accounts and files when you die or become incapacitated.
This law lets your executor or agent have legal authority to access and manage your “digital assets,” such as email, social media, cloud storage and online financial accounts. The catch is that this authority isn’t automatic. RUFADAA generally requires you to expressly grant permission in your will or power of attorney.
Ensuring your family has the right keys
Many companies will not reset a password or share access just because someone is your executor. Two-factor codes can also block your family from getting in. To avoid this, leave a clear, up-to-date list of your digital accounts, including:
- Usernames
- Passwords
- Recovery email addresses
- Instructions on how to access your phone or authenticator app.
You may also want to use a trusted password manager with an emergency access option, and explain where to find it. Finally, list your most important accounts, like email, cloud storage, banking, crypto and any money-making social media, so nothing gets missed.
Moving forward with a modern estate plan
Many Arkansans are surprised by how easy it is to update their plan. In addition to your legal documents, many tech companies let you name a “legacy contact” inside the account settings. Using those tools along with updated estate planning language helps protect your digital life and makes things easier for your family.
Navigating the intersection of technology and the law is a key part of protecting your family’s future. By recognizing the value of your online presence now, you can feel confident that your digital legacy is secure.