Scott Rahn, Founding Partner of RMO LLP, was recently quoted by Barron’s in an article on the growing challenges of preserving cryptocurrency assets for future generations as digital asset ownership becomes increasingly common among investors. The article, “How to Preserve Crypto for Your Heirs,” examines the unique estate planning issues associated with Bitcoin, Ethereum, and other cryptocurrencies, including the risk of lost access credentials, theft, probate complications, and unintended asset transfers.
Scott highlighted one of the most significant risks facing beneficiaries and heirs: the loss or accidental disposal of the devices, records, or storage mechanisms needed to access cryptocurrency holdings. Beneficiaries sometimes overlook critical crypto access information during estate administration, resulting in digital assets becoming permanently inaccessible.
The article emphasizes that unlike traditional financial accounts, cryptocurrency often requires specialized planning to ensure successors can locate and access private keys, passwords, and other authentication tools. As digital assets become a larger component of many estates, trustees, executors, fiduciaries, and beneficiaries must understand how cryptocurrency is stored and how ownership can be effectively transferred after death or incapacity.
Read the full article here (subscription required).
Facing a crypto estate planning issue? Connect with RMO LLP to discuss how we can help you protect your interests and resolve cryptocurrency inheritance and estate administration disputes.