Over the last few years, cryptocurrency such as Bitcoin, Ethereum, and many others, have taken the world by storm. While relatively new, cryptocurrency is gaining popularity and is highly valuable. If you own cryptocurrency, how do you intend to distribute it in your estate plan? Our probate lawyers in McAllen know!
Can you leave it in a will? And if so, what steps need to be followed? At Fryer and Hansen, we understand these situations can be confusing, but our estate planning lawyers in McAllen can answer your questions.
What Happens to It When You’re Gone?
An interesting fact about crypto is that it’s only accessible with a private key. If you do not give that key to a beneficiary, your cryptocurrency is essentially lost to the digital void forever! The mere thought of that happening can be anxiety-inducing to many.
We strongly suggest you list your digital possessions a will with the help of our estate planning lawyers in McAllen.
Drafting a Will with our Estate Planning Lawyers
To help your loved ones avoid any issues after you have passed, we recommend you follow the next steps:
- Make sure your cryptocurrency is listed in your will.
- Add any important information regarding your digital wallets.
- Include a document containing all pertinent passwords, PINs, and keys.
- Formulate a step-by-step guide that will simplify how your beneficiaries will access that currency.
Avoid Complications during the Probate Process
At Fryer and Hansen in McAllen, we understand these new technologies can leave you and your loved ones scratching your heads. That’s the last thing you should worry about during the grieving and probate process. Contact our estate planning attorneys in McAllen for guidance for writing your will.