Bequeath your cryptocurrency as your legacy to your loved one. It is now possible thanks to a new service.
A philanthropic estate planning platform called LifeLegacy, says it can now enable individuals to include crypto in their legacy plans. This will work via the company’s online Last Will and Testament. It is the first time that digital assets can be included in a free online Will.
Austin Cassidy is the co-founder of LifeLegacy. “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% of all Americans own cryptocurrency and this figure will continue to rise. With this in mind, 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.”
Bequeath cryptocurrency: Now Easier
Digital asset bequesting is a critical piece of LifeLegacy’s mission to “make social impact accessible and inclusive for all.” The company is working with Appraisal Bureau. They work in the area of digital asset appraisals.
LifeLegacy say that as crypto wealth is becoming a bigger part of an individual’s estate, the aim is to make it easy to pass on your Bitcoin, Ethereum, or any other crypto asset to a charity or to loved ones. “Right now, most cryptocurrency exchanges require providing a valid Last Will and Testament before releasing assets to beneficiaries. LifeLegacy is the first to solve this – and set to become the market leader for it.”
Says Cassidy, “Giving individuals the access and ability to gift their digital assets broadens capacity to leave a lasting legacy.”
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Feature pic credit: Henryk Niestrój / Pixabay
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