While many of these assets usually hold only sentimental value – like social media profiles, email addresses, etc. – some can be extremely valuable. Now that so much of our financial life can be conducted online, via investment websites, wallets containing Bitcoin, Dogecoin and other digital currencies, or even online bank accounts, it has become important for states to make laws regarding how they should be passed down to heirs.
As of late last week, the Delaware House of Representatives passed House Bill 345, the “Fiduciary Access to Digital Assets and Digital Accounts Act,” which gives the authority to take control of digital accounts and devices to heirs and executers.
The law is based on the Uniform Fiduciary Access to Digital Assets Act, which was created by the Uniform Law Commission, a non-profit organization, according to CoinDesk. So far, Delaware is the only state that has passed legislation based on the UFADAA.
Estate planning attorney Jim Lamm, one of the authors of the UFADAA, explained the need for access to digital information in the event of a persons death to Motherboard.
“In some cases, people have virtual real estate worth thousands or even millions of dollars,” Lamm told the news source. He added, “if I die, and my wife knows the password to my Facebook account and accesses it, that’s a federal crime.”
Lamm explained that already about 20 states are getting ready to introduce similar bills following Delaware’s decision, and that interest has been generated in countries abroad, as well.
In the digital age, as more people conduct business online, the importance for digital wills is likely to grow.
New Jersey’s Revised UHAC Regulations: What Residential Developers Need to Know About Affordable Housing Commitments
New Jersey residential developers with affordable housing obligations should carefully review their existing approvals, development agreements, and proposed deed restrictions in light of the State’s revised UHAC regulations (Uniform Housing Affordability Controls). The regulations, which took effect on November 6, 2025, significantly change the administration and physical requirements for affordable housing units. For developers with […]
“No Comment” Culture: Why Silence Is Often the Riskiest Legal Strategy
A “no comment” response is sometimes the right call when a legal problem arises. As a blanket policy, however, it lets allegations go unanswered, deadlines pass, evidence disappear, and manageable disputes grow into expensive litigation. The businesses that fare best are usually the ones that say little publicly while acting decisively behind the scenes. When […]
Utility-Scale Battery Storage Projects: A Legal Roadmap for Developers, Property Owners and Other Stakeholders
Utility-scale battery energy storage systems (BESS) are becoming an increasingly important component of the electric grid throughout New Jersey, New York, and Pennsylvania. As renewable generation expands, electricity demand increases and grid operators seek greater flexibility, battery storage can help balance supply and demand while providing additional capacity and reliability. For developers, battery storage presents […]
Navigating Disputes: Hire a Partnership Dispute Lawyer
A falling out between partners can be disastrous for any business. In many cases, the partnership will not survive. If you are in an unworkable situation with your partners, it may be time to consult a partnership dispute lawyer experienced in handling partnership breakups and dissolutions before the situation deteriorates any further. It is easy […]
Section 363 Sales in Bankruptcy: What Businesses, Lenders, and Buyers Need to Know
When a company enters Chapter 11 bankruptcy, many assume the process will culminate in a lengthy reorganization plan. However, distressed businesses are increasingly being sold through a different mechanism — a sale under Section 363 of the United States Bankruptcy Code. A Section 363 sale allows a company, as a debtor-in-possession in bankruptcy, to sell […]
Zoning Laws Explained: What You Need to Know Before Buying Property
Before buying property, it is critical to determine whether local zoning laws may affect your plans. If you plan to redevelop the property, you will want to confirm that local zoning regulations permit development as intended. If acquiring property that is already developed, you must verify that the use is permitted in the underlying zoning […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
