Distributing the assets of an estate can bring up many issues for those creating or managing estate plans, executors, and beneficiaries alike. Sometimes, people are unsure of what they should include in their will and in the digital age, there are even more questions to ask. For example, with cryptocurrency, some people are not sure whether they should include this asset in their estate plan or how to distribute their funds among beneficiaries.
It is essential to realize that just like other assets, your cryptocurrency funds could be lost if you do not address them in your estate plan. As with bank accounts and your personal property, you should decide how to have these funds split up between your loved ones. Moreover, you may want to keep in mind that some people are not very familiar with cryptocurrency or capable of handling an asset with so much volatility, so you should strive to leave these funds with the right person or people.
Making decisions about how to divide your assets can be challenging and you might have all sorts of questions. However, once you have set up an estate plan that includes all of your assets and properly addresses the way in which they will be distributed once you pass away, you might feel a sense of freedom and peace.
If you navigate to the estate planning page on our law office’s website, you will be able to read through more material related to naming a beneficiary and the distribution of an estate’s assets.