CEA Digital Asset Management 2

Question 1

Which federal law most directly governs fiduciary access to a deceased person's email and social media accounts?

Accepted Answer

Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA)

Answer

RUFADAA, enacted in most states, specifically grants fiduciaries legal authority to access a decedent's digital assets while respecting privacy.

Question 2

A client has a self-hosted cryptocurrency wallet with only a hardware device and no written seed phrase. What is the primary estate planning risk?

Accepted Answer

Heirs may permanently lose access to the funds

Answer

Without the seed phrase or private key, heirs have no way to recover funds from a self-hosted wallet, resulting in permanent loss.

Question 3

Under RUFADAA, a deceased person's online tool directive (e.g., Google's Inactive Account Manager) takes precedence over which other instructions?

Accepted Answer

A will or trust provision

Answer

RUFADAA establishes a hierarchy where an online tool directive supersedes conflicting instructions in a will or trust regarding digital assets.

Question 4

Which type of digital asset typically passes outside of probate based on platform terms of service?

Accepted Answer

Airline frequent flyer miles with a named beneficiary

Answer

Many airline loyalty programs allow beneficiary designations that transfer miles directly upon death outside the probate process.

Question 5

An estate advisor is helping a client with a profitable YouTube channel. Which intellectual property right is most relevant to its transferability?

Accepted Answer

Copyright ownership of the content

Answer

Copyright in the videos belongs to the creator and is transferable by will, making it the primary asset tied to a YouTube channel's value.

(CEA) Certified Estate Advisor Practice Test