Throughout Southern California
View Our Practice Areas

Crypto Currency Can Create Problems for Estate Plans

Millions of dollars have been lost in estate plans because heirs weren't aware of digital assets.

Despite the fact that virtual or digital currencies have grown very popular with billions of dollars owned worldwide, a problem has arisen because most people have little or no knowledge of the currencies or how they work.

Most digital currencies are held anonymously with the owner holding unique passkeys stored online in central databases or stored offline on computer drives, according to Lexology in "Every Day is Bitcoin Pizza Day: What Clients and Estate Planners Need to Know about Virtual Currencies."

So, what does this actually mean?

People who use virtual currencies need to be sure they talk to an estate planning attorney about their holdings.

It needs to be clear in an estate plan what currencies are held and where to find the passkeys.

It should also be clear who is to inherit the crypto currency holdings.

An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances, which may include virtual or digital assets.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard Street
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map