My Estate Is in CryptoCurrency- What Now?

Most people assume that their tangible assets, including their retirement plans and their actual assets, including vehicles, property and other forms are the primary components of their estate plan

However, crypto currency has become a major force and there are still major discrepancies when it comes to planning ahead and incorporating crypto currency into your estate plan.

A sudden accident or incapacitating event could necessitate the requirement to look into your cryptocurrency. It’s a good idea to include any cryptocurrency in your will. Even though it might be stored into your virtual wallet, the private key, which is the equivalent of a password that you might use to get into your email may be required for cryptocurrency.

If you pass on without diverging the details of your private key, this could leave your family members struggling with how to access the funds. In most cases, they would be unlikely to access these funds altogether.

In terms of your estate planning, the private key details should always be included in your documentation to allow relevant family members to step in and take control when necessary.

 

 

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