U.S. tax changes set for 2025 mean digital asset holders should consider strategies to protect their wealth, say Jeff Verdon, Moish Peltz and Kyle Lawrence.
As 2024 draws to a close, cryptocurrency stands at a turning point. Bitcoin has crossed the $100,000 mark and digital assets have solidified their place in investment portfolios of all sizes. Yet, amid these milestones, a critical, yet overlooked issue remains: the estate planning challenges unique to cryptocurrency and other digital assets.Unlike traditional assets, cryptocurrencies and digital assets operate outside established estate planning frameworks.
Additionally, the annual gift tax exclusion will rise to $19,000 per recipient in 2025. Married couples can gift up to $38,000 per recipient tax-free. Regular use of these exclusions allows incremental reductions of taxable estates over time.Strategic use of multi-signature wallets and collaborative custody can enhance both security and estate planning.
As the saying goes, failing to plan is planning to fail. For cryptocurrency holders, 2025 offers a rare window to act decisively before tax laws change and vulnerabilities deepen. The time to protect your digital fortune is now. This article is for informational purposes only and does not constitute legal, tax or financial advice. Consult with qualified professionals for personalized guidance.
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