But the number of HODLers we know that have actually put in place a legally sound plan of action ensuring both the sovereignty and privacy of their holdings is very few.
Under such circumstances, legal and equitable title must be split between trustee and beneficiary, meaning the grantor necessarily cedes either legal control or, perhaps more commonly, a portion of his equitable claim to the trust property.
In a rapidly growing number of instances, proper estate planning requires a level of technical competence and understanding that the majority of estate planners do not possess.
While lawyers react to the idea that someone’s Twitter profile, or Bored Ape NFT is worthy of new regulation, we look to these regulations in the context of the primary digital asset we believe is worthy of preservation: bitcoin.
In many instances, RUFADAA will empower the executor of your estate with the authority to request access to most of your digital assets in a manner that takes into account your privacy interests and the terms of service agreements of the big tech companies.
This is why we at BTC Trusts recommend placing your bitcoin into a living trust.
However, provided these assets can be managed distinctly from non-trust property, a revocable living trust can be crafted to convey your bitcoin to your heirs without limiting your use or enjoyment of those assets while you’re alive.
A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know.
Is privacy important to you? You may or may not be aware that whether you have a will or not, the assets of your estate will pass through a legal process known as probate.
Accounting for this is an aspect often overlooked at traditional estate planning firms. That’s why it’s important to select an estate planning firm that can ensure the conveyance is well documented not just legally, but in a technically sound manner as well.
If you hold significant value in bitcoin, a proper estate plan is going to be needed at some point.