Bitcoin, Estate Planning, and Trustee Responsibility

Matt first spoke with Frazer Rice on his “Wealth Actually” podcast in October 2020 to explore some of the intergenerational wealth transfer issues for individuals with large cryptocurrency holdings.

Specifically, Matt shared his thoughts about:

• the importance of creating a mechanism for the succession of cryptowealth (if a crypto owner becomes incapacitated or dies, and doesn’t have a reliable mechanism to make sure their private keys are passed on to a trusted individual – that wealth will be lost!)
• the necessity of naming a savvy fiduciary who can properly manage the many issues unique to cryptowealth
• planning for physical custody of a hardware device and planning for custody of a private key to unlock a replacement device
• planning for trustee succession to secure these unique digital bearer instruments
• tax planning and sophisticated trust design based on the desired jurisdiction from a legal and tax perspective

Listen to the podcast here: https://frazerrice.com/blog/ep-66-matthew-mcclintock/

The following information is intended for general educational purposes only and should not be construed as legal or investment advice.