A Digital Asset Trust is a type of trust that allows your successor trustee to have limited access to email and other important information that is stored electronically. In the “pre-email” days, after a person passed away or became incapacitated the fiduciaries could check their mail to see what bank statements and bills arrived. In the age of electronic bill pay and online banking a Digital Asset Trust provides a way for your fiduciaries to get the necessary information, without sacrificing your privacy.
With a Digital Asset Trust, your fiduciary can get list your email address(es) and to access a list of emails received, without logging into your email. The trustee will not have access to the content and actual message and will only be able see a list of email senders, the email subject, and the date the email was received. This allows the trustee to discover any banks, financial accounts and any credit card bills so they can administer the trust and estate while still protecting your privacy.
The Digital Asset Trust can also be used to manage other digital assets like videos stored on YouTube or other media sources. Your iTunes account and many other services are single user licensing agreements, which means that your video and music collection are not digital assets that can be managed with a Digital Asset Trust.
Your attorney can answer questions about other types of digital assets during your Personal Family Legal Session.What is a Digital Asset Trust?