People spend years building valuable assets. These include physical assets like cars and houses, as well as digital assets like a Bitcoin wallet, an NFT collection, or a social media account with thousands of followers.

However, when someone passes away or a dispute arises, it can be a legal hurdle trying to access these assets. Digital assets don’t have clear inheritance rules. If the decedent never disclosed the access credentials or companies refuse to transfer ownership, heirs and business partners often find themselves locked out of what’s rightfully theirs.

Who Controls Digital Assets?

Resolving succession issues concerning houses, bank accounts, and cars is often easier because there is often a clear ownership transfer. Digital assets are a whole different case, as their ownership is often tied to private keys and terms of service by governing platforms.

Take the example of cryptocurrency. If someone dies without sharing their private key, their Bitcoin or Ethereum can be lost forever. No bank or legal authority can recover it. Similarly, NFT marketplaces like OpenSea can freeze assets if ownership is disputed, leaving people stuck in limbo.

To help manage digital assets, Georgia follows the Revised Uniform Fiduciary Access to Digital Assets Act(RUFADAA). RUFADAA allows estate executors and trustees to access a deceased person’s digital property. However, it doesn’t override platform policies. Therefore, even if an heir has a legal right to a crypto wallet or Instagram account, the custodians can still deny access based on their terms and policies.

Some courts have ruled in favor of heirs, while others have upheld strict digital platform policies. Federal privacy laws, like the Stored Communications Act, can make things even harder by restricting access to digital accounts.

How to Protect and Fight for Digital Assets

Below are some of the steps you can take to protect your digital assets:

  • Store private keys and login credentials securely.
  • Use legal documents to establish ownership and transfer rights.
  • Consult an attorney if a platform refuses to grant access.

The Williams Litigation Group has expanded its legal services to help people dealing with disputes over digital assets like cryptocurrency, online accounts, or NFTs. Contact us, and we’ll discuss your legal options for accessing these assets.