The rapid rise in circulation and growing popularity of cryptocurrencies is prompting attorneys and estate planners to adjust as digital assets are inherited through wills, trusts and estates, according to experts who warn of the danger of lost or misappropriated assets.
“These are becoming key holdings,” said Parker F. Taylor, head of the private client services group at Hughes Hubbard & Reed LLP in New York. “It is going to be necessary for every estate attorney and planner to learn about these assets and how to advise clients on how to create the best estate plans for clients holding cryptocurrency and properly administer the estates of deceased clients who owned cryptocurrency at their death.”
One of the big advantages of using cryptocurrencies in estate planning is the ease of transference, attorneys say.
