Date: 08/19/2014
Final
Fiduciary Access to Digital Assets Act
COLORADO COMMISSION ON UNIFORM STATE LAWS
| Votes: View--> | Action Taken: |
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10:33 AM -- Fiduciary Access to Digital Assets Act
Commissioner Kent provided a general description of the proposed legislation. Many people now hold most or all of their assets electronically. These assets are password protected making it difficult for administrators in fiduciary roles to get the information they need to fulfill their duties to their clients. In addition, federal privacy laws hinder access to emails and other electronic information that could provide some answers. Reviewing emails, etc., is often the first step for fiduciary personnel in assisting those with protective status or in determining assets during probate.
10:40 AM -- Steve Brainerd, Colorado Bar Association - Trusts & Estates Section, indicated that the proposed law has been on their radar and CBA already has a subcommittee ready to assist the Commission.
10:43 AM -- Marco Chayet, Colorado Bar Association - Trusts & Estates Section, confirmed that the CBA group is formed and will start meeting in September. He also indicated that there seems to be a consensus that this legislation is necessary.
The Commission agreed to move forward with the proposed legislation and asked that the Colorado Bar Association have comments on the proposed legislation ready for the December meeting when the final decision for approving the draft for introduction in 2015 will be made.