California Probate Code 872 – (a) This part shall apply to any of the following:(1) A …
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(a) This part shall apply to any of the following:
(1) A fiduciary acting under a will executed before, on, or after January 1, 2017.
Terms Used In California Probate Code 872
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Custodian: means a person that carries, maintains, processes, receives, or stores a digital asset of a user. See California Probate Code 871
- Decedent: A deceased person.
- Digital asset: means an electronic record in which an individual has a right or interest. See California Probate Code 871
- Personal representative: means an executor, administrator, special administrator, or person that performs substantially the same function under any other law. See California Probate Code 871
- State: includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, and any territory or possession subject to the legislative authority of the United States. See California Probate Code 74
- Trust: includes the following:
California Probate Code 82
- User: means a person that has an account with a custodian. See California Probate Code 871
- Will: includes a codicil, a testamentary instrument that only appoints an executor, or an instrument that revokes or revises a testamentary instrument. See California Probate Code 871
(2) A personal representative acting for a decedent who died before, on, or after January 1, 2017.
(3) A trustee acting under a trust created before, on, or after January 1, 2017.
(4) A custodian of digital assets for a user if the user resides in this state or resided in this state at the time of the user’s death.
(b) This part shall not apply to a digital asset of an employer used by an employee in the ordinary course of the employer’s business.
(Added by Stats. 2016, Ch. 551, Sec. 1. (AB 691) Effective January 1, 2017.)