Digital assets can and should be addressed in a Wisconsin revocable living trust, but a trust by itself does not automatically give a trustee access to all online accounts. Access is governed by a combination of trust language, Wisconsin law, federal privacy laws, and the terms of service of the platforms that hold those assets. Digital assets include email and cloud‑storage accounts, online banking and investment accounts, cryptocurrency wallets, domain names and websites, social media accounts, digital photos and videos, online businesses, rewards and loyalty programs, and digital intellectual property. Some of these assets have monetary value, while others are primarily sentimental or operational for a business.
Wisconsin has adopted the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA), which generally allows fiduciaries and trustees to access certain digital assets when properly authorized. The scope of access, however, depends on the type of account, the provider’s policies, and the authority granted in your trust and related estate‑planning documents. A revocable living trust helps by identifying who will manage digital assets after incapacity or death, giving a successor trustee authority to access, manage, preserve, transfer, or close digital accounts, providing instructions for business‑related digital assets, and helping avoid disputes among beneficiaries about digital property. For example, if a trust owns a website business, the successor trustee may continue operating or sell it under the trust’s terms.
To be effective, modern trust documents should contain specific digital‑asset provisions. They commonly authorize the trustee to access digital records, recover electronically stored data, manage social media accounts, deal with cryptocurrency holdings, transfer domain names, and communicate with online service providers. Older trusts often lack this language, which can create practical obstacles for the successor trustee.
Provider‑level legacy tools are also important. Many platforms allow users to designate who can access or manage accounts after death, such as Google’s Inactive Account Manager and Apple’s Digital Legacy Program. Under RUFADAA, these online designations can sometimes take precedence over provisions in a will or trust, so they should be coordinated with the estate plan.
Cryptocurrency requires special planning, because possession of private keys is often essential. A trustee may be unable to access crypto assets if wallet credentials or recovery phrases are unavailable and no instructions exist. For significant holdings, estate plans often include secure procedures for transferring access information to a trusted fiduciary.
Do not put passwords directly in a trust. A revocable trust may eventually become accessible to beneficiaries or others involved in administration. Instead, many attorneys recommend maintaining a separate digital‑asset inventory, using a password manager with emergency‑access features, and storing credentials securely with regular updates.
Incapacity planning matters at least as much as post‑death administration. Digital assets are often more difficult to manage during incapacity, so in addition to trust provisions, many Wisconsin plans include a durable financial power of attorney (with digital‑access authority), HIPAA authorizations when appropriate, and digital‑access provisions in powers of attorney. This allows a trusted agent to act before a successor trustee formally takes over.
Common mistakes include failing to inventory online accounts, assuming family members know how to access them, not documenting cryptocurrency access procedures, relying solely on a will, and never updating trust provisions for digital assets or enabling provider‑specific legacy settings. A well‑designed Wisconsin plan typically includes a revocable living trust with explicit digital‑asset authority, coordinated provider tools, and supporting documents that make access lawful and practical when it is needed most.
If you would like to discuss this matter more thoroughly, please reach out to our Madison Wisconsin Estate Planning attorneys. We are here to help!