Cryptocurrency and How It Is Important to an Estate

07/03/2017

What is cryptocurrency and how will your loved ones handle the accounts?

Cryptocurrency is showing up more often in estate plans, according to the Wills, Trusts & Estates Prof Blog in "Letter to Loved Ones: A Template for Your Cryptocurrency Estate Planning."

The most important thing is to not assume that your heirs will have any idea about what to do with cryptocurrencies. Despite their growing popularity, most people still do not own any cryptocurrency and as a result, do not know their value and even how to exchange the currencies for normal currency, such as dollars.

To overcome that, it is important in estate planning to leave instructions about how the crypto currency can and should be handled.

An estate planning attorney can guide you in creating an estate plan that meets your unique circumstances.

Reference: Wills, Trusts & Estates Prof Blog (June 12, 2017) "Letter to Loved Ones: A Template for Your Cryptocurrency Estate Planning."