How Include Crypto in Estate Plan
It is a new way to transfer assets. It does not have the same legal and tax implications as traditional estate planning techniques. For example, you can’t gift crypto (unless it is BTC) during your lifetime because it is an asset class that has no value until someone pays for it (e.g., Bitcoin futures). Hirsh Mohindra says if you want to use crypto in your estate plan, then you need to think about whether there are any legal or tax issues with doing so and whether those issues are worth taking on. The benefits of an estate plan can be substantial. For example, if you own Bitcoin or other cryptocurrencies, your heirs will receive a certain percentage of the cryptocurrency that you owned at the time of your death. A trust is another option for managing crypto assets after your death. You can also create a family limited liability company (LLC) with other family members to manage and control all of your assets together in one place. Trusts can also hold crypto...
