Got Cryptocurrency? Here is What You Need to Know About Estate Planning, Crypto Memorandums, and RUFADDA
By Anthony Diosdi Cryptocurrency and digital assets present complex challenges for purposes of estate planning. Many traditional estate planning methods are rendered obsolete in the realm of digital assets. This article will discuss both the challenges and importance of estate planning in the context of crypto assets. In particular, this article will talk about the three solid components of estate planning of cryptocurrency which includes custody, planning, and administration. What is Cryptocurrency?Cryptocurrency has grown in popularity and ubiquity in the past few years. Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Virtual currency is a digital representation of value that functions as:1) A medium of exchange;2) A unit of account; and3) A store of value other than a representation of the United States dollar…