More and more clients are coming to us owning cryptocurrency. Cryptocurrency is a unique asset and how to handle this asset is unique as well. Cryptocurrency isn’t a common asset left in an estate like a bank account, and many people are unfamiliar with digital currency. By leaving a detailed guide on how to access your wallets, exchanges and how to buy and sell cryptocurrency, you are providing your trustee with a roadmap of how to take care of this asset on your behalf if you are unable to do so.
Your cryptocurrency guide can be updated at any point and stored with your estate planning documents. If you become incapacitated or pass away, cryptocurrency requires your fiduciary to have passcodes to access your account. It’s recommended that your guide have step-by-step instructions on how to access your digital assets. In the instructions, include a list of digital wallets and where they are stored, websites to the exchange used for buying and selling cryptocurrency, and your username, passcodes, passwords, PINs and keys needed to login. Be sure to update your guide when you change your password, passcode, or PIN to ensure your trustee has access to your accounts easily.
