Social Media

 The advent of social media raised significant questions for society that had never before been considered. Among the such new issues: Who controls a deceased person’s social media account. Essentially, what happens to our social media presence once we have passed.

 The Florida Fiduciary Access to Digital Assets Act (FADAA), Chapter 740, Florida statutes, enacted in 2016, attempts to answer this question. FADAA provides for the management and disposition of digital assets after an individual's death. As such, proper estate planning must consider how to manage and protect digital assets in the event of death or incapacity.

 What are Digital Assets?

Under FADAA, digital assets are defined as electronic records in which an individual has a right or interest. This can include a variety of different types of assets, such as social media accounts, email accounts, digital photos, online financial accounts, and more. In short, any digital content that you own, control, or have access to can be considered a digital asset.

Why is FADAA Important?

 Without FADAA, the management of digital assets after death can be complicated and frustrating for loved ones left behind. For example, a social media account could be left unmanaged and become a haven for spam or unwanted messages, or an online bank account could become inaccessible, leaving important financial information undiscovered. FADAA provides a way for individuals to plan for the management and disposition of their digital assets by giving them the ability to appoint a fiduciary to manage their digital assets after their death.

 How Does FADAA Work?

 FADAA accomplishes this goal in a few ways. First, it allows individuals to appoint a fiduciary (such as a personal representative or trustee) to manage their digital assets after their death. This fiduciary will have access to the digital assets and be able to manage them according to the individual's wishes.

 Second, FADAA allows individuals to specify how they want their digital assets to be handled. For example, an individual can specify that they want their social media accounts to be deleted after their death, or they can specify that they want their online financial accounts to be transferred to a designated beneficiary.

 It's important to note that the terms of service agreements that individuals agree to when they sign up for digital accounts may impact the application of FADAA. Therefore, it's a good idea to review these agreements and consult with an attorney to ensure that your wishes regarding your digital assets are properly addressed in your estate planning documents.

 Conclusion

 In sum, FADAA provides a way for individuals to plan for the management and disposition of their digital assets after their death. With more and more of our personal lives moving online, it's important to consider how to manage and protect our digital assets in the event of death or incapacity. FADAA is an important tool for individuals to ensure that their wishes regarding their digital assets are respected and carried out after their death. If you have questions about how FADAA may impact your estate planning, be sure to speak with an experienced attorney.

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This article is provided for informational purposes only and is not intended as legal advice. For further inquiry, please feel free to contact me at the email or telephone listed below