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Rick R. Johnson Cert. Mort. Advisor/Mort. Broker/Solution Expert Village Financial Group, Inc. Phone: 916-367-3738 Fax: (916) 295-1451 License: NMLS #360614, CalBRE# 01711076 Rick@RJ4Loans.com www.RJ4Loans.com |
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May 2022
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Make a Plan for Your Crypto Assets The popularity of cryptocurrency has skyrocketed within the last few years, with its market topping $3 billion in late 2021. Cryptocurrency, which is a form of digital currency, isn't like traditional assets that are managed by a bank or other financial institution. Instead, it lives on an immutable public ledger called a blockchain. Even if you're new to cryptocurrency, it's important to consider long-term implications, such as what will happen to it when you die. Unlike traditional assets that you can just allocate in your will, cryptocurrency involves some additional information for your beneficiaries to access. When you create your will, consider naming a tech-savvy executor who knows how to navigate aspects involving cryptocurrency. To ensure that your loved ones can inherit the cryptocurrency, you must include the following:
Leaving cryptocurrency to your loved ones is a thoughtful gesture, but it takes additional planning when compared to traditional assets. Taking a few steps now can simplify the process for your beneficiaries to ensure they receive your digital currency. If you have further questions about how to allocate cryptocurrency assets in your will, reach out to a financial advisor. Sources: Kiplinger.com, Nolo.com, Pooleshaffery.com, Time.com | ||||||||||||||||||||||||||||||
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