While the focus tends to be on the growth of the asset class and opportunities to prosper, for many cryptocurrency investors, more attention must be paid to transferring assets to loved ones and protecting the store of wealth from unfounded and frivolous lawsuits.
After a tragic accident, Nancy Cruzan’s family couldn’t make medical decisions for her and fought years-long court battles to help her situation. An advance care directive could have prevented Cruzan from living for seven years in a permanent vegetative state.
Choosing the right guardians for minor children is a key estate planning decision. Discuss guardianship with an estate planning attorney to ensure that someone raises your children as you wish.
Phone and computer passwords, crypto wallets, investment portfolios, mobile banking passcodes and even social media credentials also need a place to go when you die.
Since a will can be customized to fit the exact needs and desires of a family, there’s no need to leave the future financial stability and personal wellbeing of young children up to the state.
Planning for disabled beneficiaries is important, not only for those beneficiaries with known disabilities but also for those who may be disabled at the time of the decedent’s death.
