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New Delaware digital inheritance law

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Delaware passed a law this past week that gives heirs the authority to take over digital assets and digital accounts.
Inspiration for the new Delaware law, known as the Fiduciary Access to Digital Assets and Digital Accounts Act, comes from the Uniform Law Commission, a non-profit that supplies states with good, non-partisan legislation on a number of topics.
The law states:
“A fiduciary with authority over digital assets or digital accounts of an account holder under this chapter shall have the same access as the account holder, and is deemed to (i) have the lawful consent of the account holder and (ii) be an authorized user under all applicable state and federal law and regulations and any end user license agreement.”
Although Delaware is one of the smallest US states, it is home to a number of major companies. Due to its business-friendly policies, the state has managed to attract leading credit card companies, along with tech companies like Google, Facebook and Twitter.
However, the new law will not apply to companies incorporated in the state. It is intended for Delaware residents rather than companies.
See also:

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  • Miners and investors in the US are not subject to the law

  • Source: http://ecurrency.ec/2014/08/new-delaware-digital-inheritance-law/



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