A recent article on Forbes.com submitted by contributor Jamie Hopkins, director of retirement research at Carson Wealth, describes a time of cryptocurrencies and mass digitalization of traditional assets, delving into the complexities of estate planning in this new era. With the heightened attention and money flowing into digital currencies, global business is transforming, incorporating the ease and necessity of electronic and digital currencies. But, while digital assets and currencies might simplify transactions and business, they have complicated the process when owners die or become incapacitated. While traditional methods of will writing and allowing the executor to find assets will not work for digitized wealth, the article sheds light on rules and regulations surrounding digital account ownership as established in the Revised Uniform Fiduciary Access to Digital Asset Act (RUFADAA). The article reads, “It’s important to familiarize yourself with the RUFADAA and update your wills, trusts, and POAs in accordance so your fiduciaries have access to your digital assets.”
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