Financial advisors will have a crucial role in guiding clients through estate and legacy planning for crypto assets, regardless whether their client is the typical investor or the ultra high net worth individual. Opinion by Interaxis8
or vaults, the advisor now has even more value to provide. Access is often more critical than legal ownership in this case, so advisors should help clients make arrangements for transferring seed phrases or private key material to their heirs. We’ve all heard the horror stories of people dying without leaving the keys to heirs.Education is a crucial part of the crypto legacy plan, which differs from traditional asset planning.
In addition to the typical planning needs, these clients have security issues – both personal security and wallet/funds security. To maintain the tax efficiency and asset protection, they may need to do something they never thought they would utilize a centralized custodian. Except it can be in a jurisdiction like Switzerland or Liechtenstein, where they offer true custody of assets, with a structure that still allows for security of the funds and the ability to manage the assets.
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