FAQ Friday: Cryptocurrency Access Plan
On Friday, January 20th, Juliana Mann describes how to create a cryptocurrency access plan.
The first step is creating the plan and asking yourself if your executor can access your cryptocurrency is you passed away?
Your access plan will be specific to you and will vary from person to person.
For example, if your funds are held at Coinbase, your plan can simply say your cryptocurrency is held there and the executor can simply contact the company and gain access.
Complications arise when using other/multiple wallets. Strike a balance between keeping passwords safe and making sure the information is readily available in case of passing.
A list of assets is helpful with public-facing web addresses of where funds are being held. This won’t be information that could hurt you if others found it.
A separate document within your estate planning documents that includes an overview of cryptocurrency such as how to access, where to find it and possibly further information can be found at a safety deposit box at a specific address.
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