Many people are choosing to invest in cryptocurrency to take advantage of high returns. They need to plan for how their loved ones will handle their accounts, after they pass away.
There are many very strong opinions about cryptocurrency, like Bitcoin, and their current markets. These new forms of digital currency are rising in value faster than almost any other forms of investment have in recent history.
Some people see this as a sign that these currencies are about to really take off and be the thing of the future. Other people are more likely to compare them to the tulip mania.
Regardless of opinions regarding what will happen to the value of cryptocurrencies in the future, the high rates of return have a lot more people investing in the markets than ever before. This, in turn, increases their value even more and brings more people into the markets.
However, these markets are very complex.
Consequently, estate planning for them is appropriate as the Wills, Trusts & Estates Prof Blog points out in “Letter to Loved Ones: A Template for Your Cryptocurrency Estate Planning.”
The most important thing is to not assume that your heirs will have any idea about what to do with cryptocurrencies. Despite their growing popularity, most people still do not own any cryptocurrency and as a result, do not know their value and even how to exchange the currencies for normal currency, such as dollars.
To overcome that, it is important in estate planning to leave instructions about how the crypto currency can and should be handled.
Reference: Wills, Trusts & Estates Prof Blog (June 12, 2017) “Letter to Loved Ones: A Template for Your Cryptocurrency Estate Planning.”
“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”
Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.
The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!
I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.
Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.