Moore Law Firm

Moore Law Firm

9949 W. Bell Road
Suite 201
Sun City, AZ 85351
Contact Us For A Courtesy Consultation
623-207-9153

How cryptocurrency fits into an estate plan

Our economy is constantly changing. While new markets emerge and old ones fade, even the way we view money is changing. Cryptocurrencies, for example, seem to be gaining some traction amongst the public. These digital currencies are not backed by banks, which means their value can rise and fall based on the value assigned to it by those in the market. This can create big swings in cryptocurrency values that could leave an individual sitting on thousands upon thousands of dollars' worth of virtual money.

While that may sound appealing, and many people do find the ease of use of cryptocurrency, along with it anonymity, appealing, there can be serious consequences when it comes to leaving these assets to loved ones. One major problem is that cryptocurrency is usually only accessed via a security key. Those who misplace these keys, or fail to leave them for loved ones, can wind up having their cryptocurrency being stranded in the digital world.

So what can an individual who is engaging in estate planning do to avoid to such a tragic outcome? First, he or she should keep a record of all online accounts. Second, he or she should leave detailed instructions indicating how to access all digital assets, including cryptocurrency. This includes leaving security keys. Last, it is crucial to carefully consider who will handle and/or inherit these digital accounts, as their worth can be quite significant.

Fortunately, cryptocurrency can be addressed through normal estate planning documents, including wills and trusts. Those who want to learn how best to protect their assets for their loved ones can speak with an estate planning attorney who can help guide them toward the tools needed to meet their wishes.

No Comments

Leave a comment
Comment Information

Client Testimonials

I got the family trust updated.
I was very pleased with the expertise and professionalism exhibited by your staff in serving my needs.

I needed to review my Will, recommended by my son.
Mr. Farrer’s expertise helped me realize that a Trust would better serve my needs.
The staff and Mr. Farrer were very professional and friendly (not cold). Thank you. Very comfortable atmosphere.

Our legal documents were outdated due to time and circumstances.
The staff at Moore Law Firm worked with us to develop a trust and other legal documents which meet our current as well as our future needs.
The staff at moore law firm were so professional, knowledgable and friendly to work with. They worked beyond to accomodate our needs. Thank you all.

Moore Law Firm
9949 W. Bell Road
Suite 201
Sun City, AZ 85351

Phone: 623-207-9153
Phone: 623-207-9153
Fax: 623-977-7237
Map & Directions

B.Moore Law Firm