Before detailing information about cryptocurrencies and making a wealth plan, it is important to know that, when
digital currencies emerged, many people thought they were a passing cloud and did not offer them any
attention. However, cryptocurrencies like BTC have been around for more than ten years and many investors
are adding them to their investment portfolios.
The cryptocurrency market is expanding and many real estate attorneys will find that their clients have them as
part of their estate planning. In terms of wealth management, digital currencies have an advantage over other
assets. This as they only require the trustee to have the deceased person’s password to access their
account.
CHARACTERISTICS of VIRTUAL CURRENCIES
Cryptocurrencies have specific characteristics that differentiate them from traditional stocks
. Firstly digital currencies are anonymous and if you do not inform your loved ones about them, they will just
disappear once you pass them on
• Regarding taxes, virtual currencies are considered personal property, such as a car or a house
. Virtual currencies are also decentralized and lack government control. The laws governing how these virtual
agencies act are sometimes complex or do not exist at all. Therefore, it is critical to think about your wealth
planning if you have crypto investments.
WHAT IS the BEST WEALTH PLAN to CRYPTOCURRENCIES?
Virtual currency is a volatile market. Therefore as a digital investor, you will need to take more precautions and
measures to protect yourself against high losses. The good news is that you can use the Bitcoin Pro App
whenever you want to get the best return on your investments. For estate planning, be sure to stick to the
following points
• Invest in virtual currency that has proof of documentation. Unlike fiat money, virtual currency is
untraceable and there is no electronic or other paper that links any party to transactions
• Store password and key information securely because anyone who can access them can access your
account and withdraw or transfer your investment. So far, no government or institution has implemented
measures to regulate trade. Therefore, no one is responsible for being scammed or if your investment will be
stolen or any other negligence
• Share your keys and passwords with your heirs. If you die without leaving that information to anyone
your investment is simply lost, as no one can access it
YOUR INVESTMENTS in CRYPTOCURRENCIES MUST be INCLUDED in your WEALTH PLAN
At first, putting your digital investment in your estate can seem complicated. However, there is now a new
generation of attorneys and executors who are doing their best to understand cryptocurrencies. This so you can
safely include them in your estate .
Here is a quided plan to safely include cryptocurrency investing in your project for your beneficiaries to access.
• When planning your estate, including a step-by-step guide explaining the path to your digital assets to
your loved ones is an excellent idea. However, because cryptocurrency is a poorly understood and evolving
territory, it is difficult to find someone who really understands the market
• It cannot be stressed enough not to leave passwords, exchange account codes and storage wallet codes
where they can be compromised. If these codes are accessed, then your crypto investment has been
accessed
• While leaving instructions to your beneficiaries about your digital estate, subject your trustee to another set
of access codes. Then place the codes l your estate plan to pass the access codes as part of your estate
• Be exceptionally cautious when selecting an executor. Let’s suppose that the executor were to prove
untrustworthy and chose to stab you by transferring the funds themselves. Hence, there would still be no
legal documentation to hold them accountable, and the transaction would still be untraceable, so you would
lose your investment.
TECHNOLOGIES to MAKE a WEALTH PLAN to
CRYPTOCURRENCIES
• Like any other estate, your first step would be to list everything you own. In this case, please list all types of
cryptocurrency wallets, and the storage you have on any of the various platforms in your trust. In this way, it
can be distributed among your beneficiaries according to their wishes in case something happens to you
• It is true that you may not want to share the information with your beneficiaries at this time. However, it is
vital to keep your loved ones informed up to a certain level to reduce their chances of being scammed
• You need to list all digital wallets and accounts for each separate digital investment clearly and in a way your
loved ones can easily understand. You will notice that many websites have two-factor authentication.
Therefore, be sure to include the devices that the authenticator will use to receive the codes
•. Make the fund as secure as posible and leave instructions on how to access them in your estate plan.
This while you think about a location for your passwords and keys
Do not try to make it easy for your beneficiaries to access their accounts, thinking that you are helping them
It will also make it easier for hackers and thieves to access your funds
• Finally, do not be foolish enough to die with your wisdom in your heart. Please talk to your beneficiaries
before executing the estate plan to get an idea of how to implement it when that day comes. If you do not, it
will not help anyone.
CRYPTOs and TRUST
For security reasons, trust your cryptocurrency information to maintain security. Since your trusted information
is not open to the public, it reduces the chances of hackers and thieves accessing it.
The crypto environment is still new and evolving, so it is the best way to go. Only the trustee can access the
information in trust. In that way, it involves a will that would have to be reviewed by a probate court and then
preserved by the public record.
Additionally you must include your cryptocurrency investment in your wealth plan. Otherwise your
beneficiaries will not be able to access it after your death.
The trust is easier to store your information as it does not takbrlong for your beneficiaries to be approved rather
than a will that must go through probate, at which point your loved ones could lose their crypto assets.
WILL» as your LAST and MOST IMPORTANT DOCUMENT
A person’s will is a legal document that shows:
Your property
• How you want someone to distribute it in the event of your death
• The person (or people) who should manage the property until the final return of the will.
The word testament varies in meaning, where the term will refer to real estate, and the will applies to personal
property.
An executor can acquire cryptos stored on an exchange after an owner’s death through the administration
process. Said process includes the provision of a death certificate, provision of a will and other testimonies.
If a customer has not shared exchange information, that costumer should be careful. If there was no formal
record of the crypto exchange in that person’s will, the only hope is that you mention it to the beneficiary
They could also leave the key with a trusted person instead of leaving it in the will, but then mention said
person in it.
