Bitcoin and Estate Planning
Recently I had an estate planning client with a substantial amount of assets in bitcoin. The issue from an estate planning perspective is that the assets are nearly impossible to access without the passwords, and state laws have not been updated to reflect this new form of currency.
As a means for my clients' heirs and beneficiaries to avoid a long and prolonged battle, I provide my clients with a spreadsheet of assets, including account numbers, phone numbers of financial advisors, and necessary passwords for access. It is critically important to have an estate plan done by an experienced attorney and not an online version that does not provide these crucial steps.