Florida Statutes 740.005 – Procedure for disclosing digital assets
Current as of: 2024 | Check for updates
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(1) When disclosing the digital assets of a user under this chapter, the custodian may, at its sole discretion:
(a) Grant a fiduciary or designated recipient full access to the user’s account;
Terms Used In Florida Statutes 740.005
- Account: means an arrangement under a terms-of-service agreement in which the custodian carries, maintains, processes, receives, or stores a digital asset of the user or provides goods or services to the user. See Florida Statutes 740.002
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Chambers: A judge's office.
- Court: means a circuit court of this state. See Florida Statutes 740.002
- Custodian: means a person that carries, maintains, processes, receives, or stores a digital asset of a user. See Florida Statutes 740.002
- Designated recipient: means a person chosen by a user through an online tool to administer digital assets of the user. See Florida Statutes 740.002
- Digital asset: means an electronic record in which an individual has a right or interest. See Florida Statutes 740.002
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: means an original, additional, or successor personal representative, guardian, agent, or trustee. See Florida Statutes 740.002
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Florida Statutes 740.002
- User: means a person that has an account with a custodian. See Florida Statutes 740.002
(b) Grant a fiduciary or designated recipient partial access to the user’s account sufficient to perform the tasks with which the fiduciary or designated recipient is charged; or
(c) Provide a fiduciary or designated recipient a copy in a record of any digital asset that, on the date the custodian received the request for disclosure, the user could have accessed if the user were alive and had full capacity and access to the account.
(2) A custodian may assess a reasonable administrative charge for the cost of disclosing digital assets under this chapter.
(3) A custodian is not required to disclose under this chapter a digital asset deleted by a user.
(4) If a user directs or a fiduciary requests a custodian to disclose under this chapter some, but not all, of the user’s digital assets to the fiduciary or a designated recipient, the custodian is not required to disclose the assets if segregation of the assets would impose an undue burden on the custodian. If the custodian believes the direction or request imposes an undue burden, the custodian or the fiduciary may seek an order from the court to disclose:
(a) A subset limited by date of the user’s digital assets;
(b) All of the user’s digital assets to the fiduciary or designated recipient, or to the court for review in chambers; or
(c) None of the user’s digital assets.