So You Own Cryptocurrency? You Definitely Need an Estate Plan

August 13, 2020

Has it been 10 or 20 years since you last updated your will or know that you created a trust at some point that was revocable but aren’t exactly clear on its terms? The emergence of bitcoin and cryptocurrency as well as plenty of digital assets that might be a part of your current estate means that you need to take a look at these older documents and discuss your options with an estate planning lawyer.

An estate planning lawyer can help you to craft a customized plan. Right now, Congress is holding hearings on the digitization of the dollar, which means that as a financial tool, cryptocurrency is front and center in becoming more and more important. To avoid making your heirs question whether or not you owned any cryptocurrency or worse, digging through the trash or looking at every computer you own to try to find this information, make sure that you preserve the benefits of cryptocurrency and have an established plan in place to ensure that your intended heirs are able to receive it.

Cryptocurrency is much like cash and that it is not traceable. There is no paper trail or electronic trail connecting it together to make it easy for your estate administrator to find out you were involved in a transaction involving cryptocurrency. In order to maintain that privacy as part of your estate plan, you’ll need to ensure that other transaction documentations do not reveal identities. With the right seed phrase or private key any person can access the cryptocurrency so make sure that you log this information but maintain it as carefully as possible.

 


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Should You Prioritize Charitable Giving in 2025 — or Wait Until 2026?

With major tax law changes set to take effect in 2026, now may be the ideal time to evaluate your charitable giving strategy. Learn how ...

<p>The post Should You Prioritize Charitable Giving in 2025 — or Wait Until 2026? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

New IRS MATH Act Brings Clarity — Why Business Owners & High Net Worth Families Should Care

The IRS MATH Act, signed into law in late 2025, requires the IRS to “show its math” when it flags errors — meaning clearer notices, itemized adjustments, and a 60‑day window ...

<p>The post New IRS MATH Act Brings Clarity — Why Business Owners & High Net Worth Families Should Care first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Strengthen Your Retirement Strategy with a Roth 401(k): Tax-Free Growth for the Future

Discover how a Roth 401(k) can enhance your retirement plan with tax-free growth and flexible distribution options—ideal for high earners and long-term planners. Why a Roth 401(k) Might Be the Missing Piece in Your Retirement Plan When it comes to planning for retirement, diversification isn’t just about what’s in your portfolio—it’s also about ...

<p>The post Strengthen Your Retirement Strategy with a Roth 401(k): Tax-Free Growth for the Future first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>