Like everything else in life, creating an estate plan evolves and changes over time. An increase or decrease of your assets, a life-changing event like the birth of a child or a divorce, or a change in your physical or cognitive health can all lead to changes in your estate plan. Changes to your estate plan can also be brought about by changes in your economic picture such as planning for unusual assets like cryptocurrency, or Bitcoin.
Because the value of cryptocurrency can be unpredictable, it can play an important role in the evolution of your estate plan. Because of the online nature and location of Bitcoin, you need the help of an estate planning attorney who can help you understand how the laws of the state of Georgia govern access to your digital assets.
Your investment in cryptocurrency is stored in a digital wallet that can only be accessed by a private key. It is critically important that your digital key is kept secure. That means that after your demise, it can be extremely difficult for your loved ones to gain access to those assets. It is equally important for someone you trust to have access to your digital key in the event of your death. Without it, your Bitcoin – and your investment – might be lost forever.
One way you can make sure your cryptocurrency is accessible after your death is by storing your username and other login information in a safe deposit box or in an online storage portal. An estate planning attorney can help you build an estate plan that takes your tangible assets and your cryptocurrency accounts into consideration when leaving a legacy for your loved ones. Don’t leave the fate of your valuable Bitcoin to chance. Schedule an appointment with the team at Grissom Law, LLC to ensure your family receives the benefits of your investment, and your Bitcoin is not permanently lost.
Disclaimer
This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.