Monday, June 12, 2017
Crypto-assets like bitcoin and ether tend to fall to the bottom of the to-do list when it comes to estate and death planning. Even those with the technical savvy and acumen to understand the mechanics of passing on these assets fail to so do given the complex and daunting nature of the task. Third Key Solutions helps people build crypto-focused estate plans from both the tech side and the legal side. Looking to the technical side, Third Key Solutions can help with decisions involving which wallets to use and where and how to back up keys. Legally, they can make sure desired beneficiaries are sure to inherit their legacies.
Complex assets and various family situations many times require the aid of experts. As an aide, Third Key Solutions provides a generic template that can be used and specifically tailored for individuals with crypto-assets. Some words of caution, be careful using local currency and avoid stating exact numbers as these values will likely change by the time the form is needed. Also, note that filling out the template will probably not be enough to guarantee the legal passage of assets to designated beneficiaries. Grantors must adhere to the laws of their jurisdiction. Generally, it is prudent practice to seek legal advice when dealing with passage of property.
See Pamela Morgan, Letter To Loved Ones: A Template for Your Cryptocurrency Estate Planning, Brave New Coin, June 9, 2017.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.