Sunday, January 1, 2023

Preserving Cryptocurrency: Now and Later

estate planning attorney Ann Arbor

Cryptocurrency, which is digital money, is exhibiting stability as part of the global financial landscape, even though the value of individual coins (units of cryptocurrency) has been notoriously volatile. The overall market hit $3 trillion in value in 2021, only to lose $2 trillion in value so far in 2022. Emerging from the ashes of the 2008 financial disaster, cryptocurrency is likely to retain its status as an investment option because its holders enjoy freedom from government and bank control. 

This advantage can become a drawback when it comes to preserving cryptocurrency. Before you consider including cryptocurrency in your estate plan, it’s imperative that you hold onto your digital cash on a day-to-day basis. This involves preserving the passwords and digital wallets (storage units) connected to your cryptocurrency.


Learn more about how cryptocurrency and NFTs fit into your estate plan here.


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If you’re interested in learning more about estate planning, please contact an estate planning attorney in Ann Arbor at 734-665-4441.

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