Life Legacy – an estate planning company based in New York – is allowing its customers to add crypto to their last wills and testaments. Thus, those who are worried about what will happen to their crypto holdings when they’re on their way out can leave the assets to friends, family members, and loved ones.
Life Legacy Allows Customers to Leave Crypto to Loved Ones
Co-founder of Life Legacy Austin Cassidy explained in a recent interview:
Cryptocurrency is rapidly redefining the world’s financial systems and is becoming increasingly more commonplace in our day-to-day lives, but the one major issue with the growing popularity of digital assets is that there is no easy process to include it in a financial plan and pass it on. About 20 percent of all Americans own cryptocurrency and this figure will continue to rise. We’ve made it possible to easily leave cryptocurrency held in a hot wallet on Coinbase, Binance, or other exchanges to any beneficiary, including charities.
While the crypto crash of the last few weeks has likely affected many people’s ideas and thoughts regarding the digital currency space, it’s likely there are still a good handful of hodlers out there seeking to leave their crypto holdings to descendants when the final curtain is drawn. They want to ensure their digital assets wind up in good hands and that those they love are taken care of financially. In this sense, they can turn to Life Legacy to get the job done.
The big clincher of the story is that not only are the wills of Life Legacy done completely online, but they are also free to users. That’s right… Individuals do not have to pay for the service and can simply designate their crypto to specific individuals through their online accounts with a few simple clicks.
Adding to his statement, Cassidy mentioned:
Giving individuals the access and ability to give their digital assets broadens Americans’ capacity to leave a lasting legacy.
Life Legacy is a philanthropic estate planning company that seeks to ensure its tools are available to anyone regardless of their financial statuses. Through the company, customers can leave money, property, and other valuables to designated individuals and charitable organizations to ensure those they care for are in good shape after their spirits transcend.
Ensuring All Assets Are Clean
In the case of charitable donations, the company has a partner in Appraisal Bureau, which seeks to conduct audits and appraisals of all funds and property being given to non-profits. This ensures that the items are pure and were not obtained through illicit means.
In addition, many popular crypto exchanges out there require a last will and testament from customers if they are planning to leave their assets to another person. One simply cannot designate another soul as a beneficiary. Rather, many exchanges require the necessary paperwork to complete transfers.
Source: https://www.livebitcoinnews.com/life-legacy-allows-crypto-traders-to-add-assets-to-their-wills/