What is the law concerning the ownership and management of digital assets?

In South Carolina, the law concerning the ownership and management of digital assets is governed by the South Carolina Uniform Fiduciary Access to Digital Assets Act. This law protects the rights of guardians, executors, and other fiduciaries to manage digital assets, which are defined as any electronic records or content that is stored on or accessed through the internet. These assets can include emails, text messages, voicemails, photographs, and other similar digital data. The law states that if a user of digital assets has specified a fiduciary to manage their digital accounts, the fiduciary can access that user’s digital accounts for the purpose of managing digital assets. The fiduciary must file a copy of their court appointed papers with the custodian of the digital assets to gain access. If a user has not specified a fiduciary or if the custodian is not aware of the existence of a court appointed fiduciary, then the custodian is prohibited from disclosing any digital records or content. In addition, the custodian of digital assets must provide the fiduciary with a statement of fees for access and management of digital assets. This statement must be provided to the custodian prior to any access being granted. Finally, the law also states that the fiduciary must use reasonable care to protect the confidentiality and security of the digital assets, providing instructions to the custodian if necessary. Furthermore, if the fiduciary discovers any digital asset that may be subject to succession or probate laws, they must promptly file the proper reports with the court.

What is the law concerning the ownership and management of digital assets?

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