Virtual Money Adds New Twist to Estate

The house, cottage, furniture and investments are covered. Jewelry, art and bank accounts are also accounted for in your estate plan. But what about the bitcoin?  

Over the last few years, digital assets ranging from entertainment libraries to social media accounts have been driving change in the supposedly staid world of estate planning. We regularly help clients answer questions about succession planning and how digital assets should be managed in the event of incapacity, or death. Working on the front lines of this relatively new frontier, we appreciate there is no widely understood or accepted consensus on how executors should approach managing digital assets. There are few laws in this area. Traditional documents such as powers of attorney and Wills may not always work well when dealing with digital assets.

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