Esteemed estate planners Matt McClintock and Abbie M.B. Everist have penned an insightful piece for Bloomberg, underscoring the critical need for addressing digital asset issues in the realm of estate planning. As the digital asset landscape remains in its early stages, McClintock and Everist emphasize the complexity and uncertainty that comes with the novel nature of these assets, the industries that govern them, and the technology utilized to administer them.
In their article, McClintock and Everist caution that the lack of standardization and understanding surrounding digital assets poses a significant challenge for estate fiduciaries, who may be ill-equipped to navigate the complexities of these assets in the event of an individual’s passing. The authors argue that a proactive approach to digital asset planning is essential to ensure the seamless transfer of these assets and to protect the interests of beneficiaries.
“Given the rapidly evolving nature of digital assets and the potential legal and technological hurdles that may arise, it’s imperative that estate planners and their clients take a proactive approach to addressing these issues,” said Matt McClintock. “Our article aims to shed light on the importance of this often-overlooked aspect of estate planning and equip professionals with the knowledge they need to effectively navigate this complex landscape.”
Matt McClintock, JD, Founder and Executive Managing Director at The Bespoke Group a wealth strategies advisory firm that is significantly invested in the digital world.
Abbie M.B. Everist, JD, LLM, MBA, MA, Managing Director, National Tax Office, Private Client Services in Sioux Falls, S.D., and Vice Chair of the ABA Generation-Skipping Transfer Tax Committee.
As digital currencies like Bitcoin gain prominence, attorneys, financial advisors, and trustees must adeptly navigate the complexities of structured planning to manage, protect, and optimize these unconventional assets.
Bespoke’s Co-founder, Matt McClintock, demystifies estate planning for digital assets in this talk with BitDevs.
Here’s what the discussion covered…
The Benefits of Using Creative or Personal Names for Trusts
Using creative or personal names for trusts enhances privacy and security while adding a meaningful touch. By choosing a unique name—like a favorite landmark or character—you obscure your identity, protecting personal details from public records and reducing the risk of identity theft. This approach ensures confidentiality, making it harder for outsiders to connect the trust with your personal affairs. Additionally, a personal name adds significance to the trust, making the estate planning process more engaging and reflective of your values.
Understanding Revocable Living Trusts: Asset Protection and Tax Implications
A revocable living trust doesn’t offer asset protection from creditors or tax benefits. During your lifetime, creditors can access the trust’s assets since you control and can revoke it. Tax-wise, there are no advantages or detriments; assets remain part of your estate for tax purposes, and income or gains are reported on your personal tax return. The main benefitof a revocable living trust is efficient estate management. It helps avoid probate and allows for private, streamlined asset distribution and management in case of incapacity or death, ensuring a smoother transition of your estate.
Revocable Trust Structure: Protecting Assets for Spouse and Children
A revocable trust structure designed to protect assetsfor both your spouse and children allows your spouse to benefit from and manage the assets without full ownership, safeguarding against misuse. It also ensures that the assets remain in the trust and are available for your children if your spouse passes away first, avoiding disinheritance. Your spouse acts as trustee, balancing control with asset protection. This approach protects assets, supports your spouse, avoids probate, and simplifies transfer, with clear terms and effective family communication being key considerations.
Legal Limits on Trust Provisions
Drafting effective trust provisionsrequires balancing detailed instructions with legal and practical considerations. Legal limits include public policy restrictions that invalidate provisions based on religion, race, or illegal incentives, and adherence to the rule against perpetuities, which limits how long a trust can last.Practically, granting trustees broad discretion within clear guidelines helps them manage assets flexibly and adapt to unforeseen changes. Avoid overly complex provisions to prevent administrative difficulties and disputes. Collaborate with legal experts to ensure enforceability, communicate your intentions clearly to trustees and beneficiaries, and regularly review and update the trust to reflect evolving needs and circumstances.
Mechanical Transfer vs. Intentional Transfer
The key difference between mechanical and intentional asset transfers lies in the clarity and structure of the transfer process. Mechanical transfers, like handing over a vault combination without further instructions, can lead to uncertainty and unintended consequences. In contrast, intentional transfers involve detailed planning and legal structures, such as trusts, which ensure assets are managed, protected, and distributed according to the original owner’s wishes. Using trusts, clear instructions, and professional advice ensures assets are safeguarded, privacy is maintained, and tax implications are optimized, effectively achieving your estate planning goals.
Mastering Unconventional Asset Management
Structured planning for unconventional assets, like Bitcoin, requires a thoughtful and adaptive approach that integrates security, legal compliance, and asset management. By leveraging creative strategies—such as using personal names for trusts to enhance privacy or crafting intentional asset transfers through detailed estate planning—individuals can protect their assets while ensuring smooth transitions for future generations.
Whether dealing with digital currencies or more traditional assets, Bespoke is committed to help optimize estate planning and safeguarding your legacy.
Finding the right Private Wealth Manager or Multi Family Office can be a daunting task. At Bespoke, we help our clients understand all the nuances of wealth management and how to plan for a legacy that endures.
A Partnership Built on Trust
The value of a Private Wealth Manager is not just the returns they can provide through investment strategies, but it is the relationship and planning process which secures your confidence, the confidence that your time, energy, wealth, and values will persist into the future. The relationship that you build with your Private Wealth Manager should have a foundation of respect, trust and alignment, which can only be garnered through a deep understanding of the things in life that are most important to you and ensuring that your vision is protected within and beyond your lifetime.
Large institutions often promote services like specialized advisors who can provide unique and focused planning support and access to exclusive investment opportunities. The reality is that many of these services fall short of expectations. Attempting to meet the needs of thousands of clients often comes at the cost of personalized wealth planning support. At Bespoke, we are able to prioritize a client-first approach, where we can truly understand the needs of each client and work together to create the most optimal wealth management strategy.
Taking a Generational Perspective
Strategic investing is often front and center of the conversation for many PWMs, but at Bespoke, we help our clients understand that, while strategic investing is an essential part of a family office’s role, it’s probably the 4th most important part. Generational wealth requires a generational perspective, and Bespoke is an expert at mapping out your wealth management strategy by going beyond strategic investing. In his article Navigating the Maze, Matt McClintock describes why it’s important to fully understand all of the intricacies of this process.
At Bespoke we work with our clients to focus on four key areas, including 1) HOW you own your assets, 2) WHERE you own your assets, 3) WHY inheritance planning is so important, and 4) WHAT you own.
The Core Questions behind Proper Wealth Planning
1) HOW you own your assets is crucial to the overall success of your wealth management strategy and protecting your legacy. All the portfolio performance in the world is useless if you haven’t planned to mitigate litigation risk, regulatory risk, tax erosion, or failed inheritances (assuming there are people you care about). Growing your wealth strategically is an additional layer that is only possible once your wealth is firmly protected. How have you ensured that your existing wealth persists into the future? The best way to do this is by understanding all the risks associated with wealth preservation.
Your wealth management partner should be acutely aware of all these factors, and if you’re having these conversations with your partner, then you’re on the right track.
2) WHERE you own your assets is the second most important consideration. Opportunistically leveraging the laws of favorable jurisdictions is an area that even most law firms overlook. Bespoke works diligently with our clients to fully understand their investment needs and desired outcomes and to identify jurisdictions that best serve these goals. In conversations on theStephan Livera Podcast (9:40 & 14:05), as well asThe Last Trade(39:55), Matt McClintock explores the concept of favorable jurisdictions and how to use them as an advantage. These same themes are outlined in his article Choosing Favorable Trust Jurisdictions for Maximum Benefit.
3) The “WHY” – What’s it all about, anyway? (This may actually be #1). What does wealth mean to you? What do you want your legacy to be after you’re gone? How do you want to impact/inspire/motivate the people you leave behind? Is there anything about you other than your balance sheet? (Of course there is.) How do you reflect that through your investments and your broader planning.
The time, energy and value that you provide to the world today has the potential to persist and positively impact future generations. This is only possible with intentional planning, and Bespoke helps encourage deep consideration and thought to the long-term impact of your wealth on family, friends, and community.
4) WHAT you own (your investments) should be a manifestation of your WHY and must be established in context of #1 and #2. It’s about smart investments in public or private markets, domestic and/or international, that deliver alpha, are consistent with your worldview, don’t put essential capital at risk, provide adequate liquidity if markets turn on you, and are fee efficient for you.
These four questions provide the foundation for a robust wealth management framework, which is why we emphasize this approach. Working through and finding the solutions to these questions will help you build confidence in your strategy and ensure your wealth is properly secured for your life and future generations.
If you’re interested in learning more about Bespoke’s approach to private wealth management and how we can help you build a secure financial future,we invite you to reach out to us directly. We’d be happy to set up a confidential consultation at your convenience.
Thank you for considering Bespoke as your partner in wealth management. We look forward to the opportunity to work with you.
The following information is intended for general educational purposes only and should not be construed as legal or investment advice.
Matt shares his professional background, highlighting his path and the experiences that shaped his approach to wealth management.
06:25 The Story of Bespoke Group
The founding and evolution of Bespoke Group, emphasizing the importance of tailor-made financial services.
15:00 How to Own VS Where to Own VS What to Own
Discussion on different aspects of ownership, focusing on strategic decision-making in wealth management.
16:55 How Estate Planning is an Act of Sovereignty
Framing estate planning as an exercise in personal sovereignty, offering control over one’s financial legacy.
20:00 The Flaws of Wills and Probate
Critique of traditional wills and probate processes, discussing common pitfalls and inefficiencies. Jacob shares a personal anecdote about the wills his late mother and father left behind.
21:50 Privatizing the Process
Why privatized methods to streamline estate management should not be overlooked.
25:45 Understand the Tax Law
Tax news and updates. Stay abreast to changes of the tax law that will affect current and future estate planning structures.
31:21 What Type of Impact Do You Want Your Wealth to Have?
Exploring the desired impact of wealth on future generations and society, stressing thoughtful planning.
37:54 Why Matt Hates the Word Estate Planning
Matt explains his aversion to the term “estate planning” and proposes a more holistic approach.
40:00 A Thoughtful Estate Plan is an Act of Love
Emphasizing that estate planning is an act of love and responsibility towards one’s family and legacy.
42:50 Where the Future of Money is Headed
Insight into the future of money, particularly the evolution of cryptocurrency and its implications.
46:40 Impact of Bitcoin’s Evolution
Discussion on how Bitcoin has emerged as a robust form of money and its role in modern financial systems.
54:02 Widening Delta Between Value of Assets and Value of Our Currency
Reflecting on the growing disparity between asset values and currency value, and its implications for financial planning.
Matt and Jacob underscore that estate planning and financial management are more than just technical exercises; they are about holistic life optimization and aligning financial strategies with personal values. They advocate for proactive and dynamic estate planning to ensure long-term well-being and effective wealth management.
Through this work, I’ve come to understand that philanthropy is not just about changing the world; it’s about changing ourselves. Philanthropy is a journey that transforms the giver, shaping our relationship with money and ultimately, our legacy. Here’s why philanthropy matters more than ever, and how it influences not only family dynamics but also your vision for the future.
Find comprehensive questions to help you define your family legacy at the bottom of this blog post.
Philanthropy: More Than Money
Philanthropy is often misunderstood as merely the act of giving money. However, it runs much deeper. It’s about understanding the various forms of wealth beyond financial assets. What truly matters is the impact we make, not just on the world, but on ourselves. It’s about recognizing the wealth of relationships, talents, and values that define a family.
Family Wealth Beyond Financial Assets
We must ask ourselves: What constitutes our family’s wealth beyond money? It includes the unique talents, strengths, and values that each member possesses. These intangible assets contribute significantly to our family’s legacy, shaping our identity and purpose.
Each member of our family brings something unique to the table. Whether it’s creativity, leadership, or compassion, these talents contribute to our family dynamics, fostering collaboration and growth.
Core Values and Charitable Endeavors
Our family’s core values guide our charitable endeavors and vision for the future. Whether it’s integrity, generosity, or empathy, these values shape our impact on the world and ensure that our giving reflects who we are.
Envisioning each family member’s involvement in our legacy planning is essential. Their perspectives and wisdom contribute to a holistic vision for the future, ensuring that our values and goals are passed down for generations to come.
Wealth and Relationships
Reflecting on our experiences, we must acknowledge the influence of wealth on relationships. While it can strengthen bonds and enable positive change, it can also pose challenges if not managed wisely. Personal insights into this matter help us navigate these complexities and build meaningful connections.
Even beyond our family, there are key individuals who significantly impact our happiness and well-being. Nurturing these relationships requires time, effort, and genuine care to maintain a strong support network.
Values and Vision as a Founder
As a founder, husband and a parent, I’m often asked about my values and vision for the future. Here’s what I believe:
My Values: Integrity, empathy, and resilience are at the core of everything I do. These values drive my actions and shape my relationships, both personally and professionally.
Where They Come From: My values are rooted in my upbringing, experiences, and the lessons I’ve learned along the way. They are a reflection of who I am and what I stand for.
Why They Matter: These values guide me in making decisions that align with my principles and contribute to a better world. They define the kind of leader, parent, and individual I strive to be every day.
The Kind of People I Want My Kids to Be: I want my children to be compassionate, resilient, and driven by purpose. I envision them leading fulfilling lives, making a positive impact, and embodying the values that define our family.
Their Future: If my children embrace these values and lead with integrity, their lives will be filled with meaning and fulfillment. They will navigate challenges with grace and leave a lasting legacy of goodness in the world.
Impediments to Success: To help my kids achieve success, we must remove or avoid impediments such as entitlement, complacency, and a lack of empathy. By instilling a strong work ethic, fostering resilience, and nurturing their sense of empathy, we can empower them to overcome obstacles and thrive in a rapidly changing world.
Define YOUR Family Legacy
What do you consider as your family’s wealth beyond financial assets and how do these other forms of wealth contribute to your family’s legacy?
Can you share some unique talents or strengths that each member of your family possesses? How do these talents contribute to your family dynamics?
Who are the key individuals outside your family that significantly impact your happiness and well-being? How do you maintain these relationships?
What core values do you hold dear as a family? How do these values influence your charitable endeavors and vision for the future?
Why are these outlined values important to you? Where do they come from?
How do you envision each family member’s involvement in your legacy planning? What special perspectives or wisdom do you see them bringing to the table?
Reflecting on your experiences, do you believe wealth has the potential to influence relationships positively or negatively? Can you share any personal insights on this matter?
What kind of people do you want your kids to be? What will their lives look like if that happens?
What impediments need to be removed or avoided to help your kids achieve success?
In conclusion, philanthropy is not just about giving; it’s about personal transformation and legacy building. We have the opportunity to shape the future by instilling values, fostering relationships, and leaving a meaningful impact on the world. Let’s embrace this journey of giving and growth, knowing that our greatest wealth lies not in what we have but in who we become.
We are witnessing remarkable advancements on secondary layers within the Bitcoin network. Bitcoin core developers are continually innovating to enhance the scalability and transaction capacity of the network, allowing it to perform a broader range of functions. These developments not only increase Bitcoin’s utility but also have the potential to significantly boost its value.
This blog post summarizes a recent talk our co-founder and executive managing director Matt McClintockshared with the Unchainedaudience. You can tune into the full video at the bottom of the page.
The Dynamics of Bitcoin Value
Predicting the spot price of Bitcoin in U.S. dollar terms remains a challenging endeavor. However, Michael Saylor’s assertion that “it goes up forever” captures a fundamental belief within the Bitcoin community: as Bitcoin’s network grows and its applications expand, its value is likely to increase. This upward trajectory is compounded by the depreciation of the U.S. dollar, which typically loses value at a rate of 2 to 8 percent per year. As Bitcoin appreciates and the dollar depreciates, the value gap between them continues to widen. This trend suggests that Bitcoin’s long-term value proposition remains robust. For the U.S. to fully leverage this potential, it might need to consider holding Bitcoin as part of its strategic economic reserves.
The Rise of Ideological Investing
Investors, especially the younger generations, are more inclined to align their investments with their personal values and worldviews. This trend is reflected in the growing interest in companies that demonstrate social responsibility, such as having women in the C-suite or implementing sustainable practices. Investors are now willing to prioritize ideological alignment over traditional financial metrics like alpha and beta.
At Bespoke Group, we help our clients uncover the deeper purpose behind their wealth. We explore questions such as: What does this wealth mean to you? How can it be used to express your values through investments and philanthropy? By addressing these questions, we guide our clients in making investment decisions that reflect their ideologies and contribute to a better world.
Planning for Transformative Wealth
Many individuals possess substantial Bitcoin wealth, which necessitates careful consideration of its implications for their families and communities. The case of Mircea Popescu, who allegedly held over a million Bitcoins and tragically drowned without clear succession plans, underscores the importance of strategic planning. Whether one owns 100, 1,000, or 10,000 Bitcoins, these assets represent transformative wealth that demands thoughtful succession and estate planning.
Bitcoiners, especially those who have weathered multiple market cycles and significant industry upheavals (such as the collapses of Three Arrows, Terra Luna, and FTX), often develop a mature and ideological perspective. They view Bitcoin not just as a store of value but as a revolutionary asset with the potential to transform their lives and the futures of their families. Structuring and managing this wealth strategically is crucial for its preservation and growth.
The Generational Shift and Social Upheaval
Our client base is largely composed of individuals younger than 50, reflecting a significant generational shift in attitudes towards wealth and investing. Younger generations, including Gen X and Millennials, are more ideologically driven compared to the Baby Boomers. They possess significant wealth, often accumulated through unconventional means like cryptocurrency investments, and are motivated by a desire to make a positive impact on the world.
This generational shift coincides with a period of significant social upheaval in the United States. The “Fourth Turning,” a concept popularized by William Strauss and Neil Howe, suggests that American society undergoes a major transformation every 80 to 100 years. We are currently in a crisis phase, characterized by societal reimagining and reorganization. This period of transformation is driving affluent individuals to align their wealth with their values, whether through investments, philanthropy, or family legacy planning.
The Role of Bitcoin ETFs
The introduction of Bitcoin ETFs has been a significant milestone, signaling growing acceptance of Bitcoin as a legitimate alternative asset class. While Bitcoin ETFs provide an easier access point for retail investors, there are concerns that they might simplify Bitcoin ownership to the point where investors miss out on understanding its deeper value. The influx of Bitcoin into ETFs could potentially centralize control, but the high HODL rates suggest that many Bitcoiners are committed to maintaining their holdings.
Global Strategies and Regulatory Risk
Navigating regulatory risks within the United States is a critical concern for many Bitcoin holders. At Bespoke Group, we help clients plan for these risks through global custodial relationships and structures, such as trusts in the Cook Islands or foundation companies in Switzerland. These structures can protect Bitcoin assets from regulatory reach while allowing clients to maintain control and benefit from their investments.
Our Approach at Bespoke Group
One of our specialities is sophisticated wealth management tailored for Bitcoin holders. We embrace a Bitcoin-centric ethos and understand the unique complexities and needs of our clients. Our approach is designed to balance traditional wealth management principles with the distinctive nature of Bitcoin assets.
We recognize that many Bitcoiners are ideological about their investments, especially those who have been involved for several years. These individuals often possess a long-term vision for their wealth, viewing it as a means to not only secure their own futures but also to make a positive impact on their families and communities. Our goal is to help these clients strategically plan for the future, ensuring that their Bitcoin wealth is managed and preserved in a way that aligns with their values and aspirations.
The following information is intended for general educational purposes only and should not be construed as legal or investment advice.
When it comes to financial planning, many people have diversified portfolios that include traditional assets like real estate, equities, and private equity. However, as the world of finance evolves, more people are incorporating cryptocurrency into their investment strategy. While digital assets offer exciting opportunities, they also present unique challenges, particularly in the realm of estate planning.
In this conversation, Bespoke’s Co-Founder Matt McClintock and Chief Investment Officer, Samara AlphaAdil Abdulali uncover just that. Tune into the full conversation and summary below.
The Importance of Access to Assets
Access to assets is crucial in any investment strategy, and cryptocurrency is no different. If you can’t access your crypto assets when you need them, you miss out on potential opportunities. As the market moves, so should your ability to respond and adapt.
IRS and Blockchain Awareness
Crypto investors must be aware of the increased scrutiny from the IRS and the federal government. The blockchain’s immutable ledger makes it easier for authorities to track transactions and ownership. As a result, the government is becoming more proficient at understanding how blockchains work and is effectively managing confiscated crypto assets.
Estate Planning with Cryptocurrency
When it comes to estate planning, crypto presents a unique set of challenges. While traditional assets can be easily transferred to heirs, digital assets require careful planning. Passing on your keys to someone else without proper documentation can lead to complications, including potential legal issues and tax liabilities.
For instance, if you leave crypto assets to your spouse or children, they may face challenges when trying to monetize the assets. They could encounter Know Your Customer (KYC) requirements, which may lead to questions about the source of the assets and potential tax implications.
The Risks of Negligence
Failing to report the transfer of crypto assets can result in penalties, interest, and even criminal fraud charges. It’s essential to treat digital assets with the same level of respect as other significant assets, such as real estate or private equity.
Founders and Crypto Wealth
Founders of new crypto protocols face additional challenges when it comes to estate planning. If your project gains traction and your tokens increase in value, it’s essential to plan accordingly. Estate planning should be part of the founder’s mental checklist, just like developing their project and managing the business.
Conclusion
As the world of finance continues to evolve, so too must our approach to estate planning. Crypto assets are real-world assets that hold significant value, and they require careful planning and consideration. By treating your digital assets with the same respect as traditional assets and planning for the future, you can ensure a smooth transfer of wealth and minimize potential legal and tax complications.
Incorporate estate planning into your overall financial strategy to protect your legacy and ensure your loved ones are well-prepared for the future.
Bespoke aims to highlight the importance of planning and foresight when it comes to dealing with cryptocurrency, as well as the potential complications that can arise without proper preparation.
This information is intended for general educational purposes only and should not be construed as legal or investment advice.
In the fast-paced world of cryptocurrency, fortunes can change overnight. In a recent conversation, Bespoke Co – founder Matthew McClintock, a legal expert and advisor to high-net-worth individuals in the crypto space, and Crystal Wampler Bespoke’s Client Services Associate and guest host of the show delve into the significance of understanding the evolving landscape of crypto assets, the potential impact of Bitcoin ETFs, and the crucial role of behavioral finance in wealth management.
Listen to the conversation on the AFO | Wealth Management Forward Podcast with host Rory Henry.
The Dawn of Retail Investment in Crypto
McClintock emphasizes the significance of the evolving landscape of crypto assets, particularly in how it affects retail investors. He notes the challenges that everyday investors face when dealing with cryptocurrency exchanges, from navigating complex protocols to grappling with custody solutions. However, with the emergence of Bitcoin ETFs, McClintock sees a potential turning point. These ETFs could provide retail investors with easier access to Bitcoin price exposure without the complexities of owning and managing the underlying asset.
The Role of Trusts in Crypto Wealth Management
As crypto wealth grows, McClintock highlights the importance of trust structures in estate planning and asset protection. He discusses the various trust vehicles available, from revocable trusts to dynasty trusts, and emphasizes the need for creative solutions tailored to the unique challenges posed by crypto assets. McClintock also explores the role of private trust companies in providing custodial solutions for digital assets, offering increased security and flexibility for affluent crypto investors.
Navigating Behavioral Challenges in Crypto Wealth Management
Crystal asks: “How do you navigate these new millionaires and billionaires, how do you help them navigate their new wealth?” In managing newfound crypto wealth, McClintock underscores the importance of behavioral finance principles. He emphasizes the need for advisors to approach clients with respect, curiosity, and zero judgment, acknowledging the significance of their wealth journey. McClintock encourages clients to explore questions of legacy, impact, and personal fulfillment, guiding them in crafting a holistic wealth management strategy aligned with their values and aspirations.
The Future of Crypto Wealth Management
Looking ahead, McClintock remains optimistic about the potential of Bitcoin ETFs to drive further adoption and investment in the crypto space. He anticipates a significant demand shock on Bitcoin as ETF sponsors acquire assets to back ETF shares, potentially leading to accelerated growth in crypto markets. However, McClintock also stresses the importance of prudent planning and risk management, urging investors to consider the broader implications of their wealth decisions.
As the crypto landscape continues to evolve, understanding the intersection of legal, financial, and behavioral factors will be essential in helping clients achieve their long-term financial goals while embracing the opportunities presented by digital assets.
Debunking myths surrounding asset protection, tax strategies, and privacy safeguards; ditching the traditional hourly fee structure and opting instead for a more client friendly approach; viewing estate planning from the viewpoint of a Bitcoiner… These are a handful of dynamic perspectives you wouldn’t hear from your typical multi-family office, but you can count on hearing them from Bespoke Co-Founder Matt McClintock.
Your assets are nothing if you ignore the strategies necessary for their effectiveness, which can be measured by means of management and protection. This philosophy lies at the heart of our work, prioritizing the nuances of HOW and WHERE to own assets before delving into the specifics of WHAT to own, listen to what this looks like in practice and tune in here.
Unfortunately, in our field it is commonplace to put the cart in front of the horse. Plan for your wealth in the right order: employ creative jurisdictional strategies, identify optimal custodians, and lay a robust foundation for long-term wealth preservation and growth.
Matthew McClintock, Bespoke Group Founder and Executive Managing Director, joins Marty Bent, Jesse Myers (COO of Onramp), and Michael Tanguma (CEO) on On Ramp’s Podcast The Last Trade: The Bitcoin Heritage Blueprint with Matt McClintock. Tune in!
This information is intended for general educational purposes only and should not be construed as legal or investment advice.
Bitcoin holds power to improve America’s fiscal position, maintain global power, and solve economic issues. Tune into the discussion of Bitcoin’s role in addressing economic challenges faced by the government and society. Onramp’s podcast episode Multigenerational Security for Bitcoin with Matt McClintock touches on market headlines, the possibility of a Fed soft landing, and challenges in the bond market, oil, gold, inflation, and interest rates. The podcast highlights Bitcoin’s growing acceptance by the traditional financial world and its potential to drive a new industrial revolution.
Matthew McClintock, Bespoke Group Founder and Executive Managing Director, joins Marty Bent, Jesse Myers (COO of Onramp), and Michael Tanguma (CEO) on On Ramp’s Podcast The Last Trade: Multigenerational Security for Bitcoin with Matt McClintock. Tune in!
Multigenerational Security for Bitcoin
McClintock discusses the impending transfer of generational wealth from baby boomers to millennials and Gen Z, emphasizing the logical shift towards digital assets for the digital-savvy younger generations. The conversation shifts to the geopolitical implications of Bitcoin’s rise, with innovation hubs in countries like Switzerland, Singapore, and Dubai potentially challenging the US’s economic leadership.
The episode delves into Bitcoin’s integration into estate planning, emphasizing the need for innovative approaches to wealth succession. McClintock explains how Bitcoin can be integrated into trust structures, offering better technology for wealth management than traditional wills. The discussion touches on estate taxes, revocable and irrevocable trusts, and the protection of assets for future generations.
Multi-signature (multi-sig) arrangements are explored in the context of trust-centered planning, focusing on the mechanics of key management and qualitative aspects of long-term wealth preservation. The need for qualified custodians and the maturation of the Bitcoin market are highlighted, along with the role of organizations like OnRamp and Bespoke as bridges between the current financial system and the emerging Bitcoin-based future.
McClintock reviewed the new FinCEN tax exemption regulations beginning January 1, 2024 and their impending impact on privacy. The podcast concludes by discussing the growing interest of fiat whales in Bitcoin and the shift towards non-US denominated fiat wealth and other non-fiat assets.
In summary, the podcast covers a wide range of topics related to Bitcoin’s role in solving economic challenges, its integration into estate planning, the importance of trust structures, the maturation of the Bitcoin market, and the changing landscape of global finance.
Onramp solves for the three pillars of bitcoin ownership; facilitate accumulation of the asset, orchestrate the optimal custody solution, and educate holders to appreciate the long-term signal value of the asset while ignoring the short-term noise that twitter and mainstream media propagate.
Onramp was designed from the ground up for HNWI, Family Offices, Investment Funds, Corporations, and Institutions that want best-in-class custody without any tradeoffs, but are not yet ready to take on the responsibility of self-custody.
This information is intended for general educational purposes only and should not be construed as legal or investment advice.
