The importance of having an estate plan for digital assets has never been greater. With traditional, liquid assets like money and insurance policies, passing on these assets at the owner’s death can happen quite seamlessly with designations like beneficiary, payable on death, and transferable on death. While these financial institutions have entire departments dedicated to ascertaining the assets of the deceased, what about digital assets? Currently, the digital asset space lacks robust customer support teams, beneficiary options for ease of transfer upon death, or even physical office locations for customers to visit.
Having an estate plan that accurately articulates the scope and storage of one’s digital assets is vital to properly pass these assets upon death. Without a proper estate plan in place, these assets might be left untouched because the decedent’s loved ones know very little about the digital asset space or may even be unaware of their existence.
With a skilled estate planner well-versed in Bitcoin, cryptocurrency, and digital asset space, you can safely incorporate these advanced assets into your overall wishes. The digital asset space is a rapidly changing one, so it’s crucial to hire a professional who understands the space and its future trajectory.
The safeguarding of digital assets often requires passwords or seed phrases. While many individuals understand the need to protect sensitive information, it is common that safely providing this information to loved ones in the event of a death is an afterthought.
With the digital asset space progressing daily, the horror stories of losing access to these assets are becoming more prevalent. Ensuring one’s passwords or seed phrases are secure from acts of God, such as a house fire, hurricane, flood, and other natural disasters, is critical.
As technology and the digital asset space progresses, private companies and financial institutions will likely develop and offer built-in succession plans. Hiring an estate planner that is up to date with current and upcoming developments is crucial to ensure your digital assets are as secure as possible.
One of the most important aspects of planning around digital assets is often the most overlooked. It is quite common for one spouse to be very educated and entrenched in how the technology around cryptocurrency or Bitcoin works, but the other spouse is unaware of these intricacies.
It may sound counterintuitive to some, but at some point, a loved one or trusted fiduciary will need to be able to access one’s passwords or seed phrases to transfer these assets. Hiring a savvy estate planner can help explain to beneficiaries what these assets are, how they function, and how they are transferred and stored.
Going through probate can be a time-consuming process for your loved ones, leaving them without access to your assets for some time. Our team of professionals will guide clients through the process and provide updates throughout probate.
Our years of experience have also made us excellent partners in business endeavors. Our team is prepared to guide you through any concerns with establishing and maintaining your business.
In cases where an individual is incapable of handling their own decisions, this power may need to be transferred to another either temporarily or permanently. Our lawyers can help you through the petition process so that you can protect your loved one’s assets and give them the help they need.
At Crow Estate Planning & Probate, our staff is experienced in modern estate planning that encompasses both traditional and digital assets. Any Tennessee or Kentucky resident looking to protect their digital assets and explore other areas of estate planning can take advantage of a free consultation with one of our attorneys. Contact Crow Estate Planning and Probate today to ensure your digital assets are protected and passed on according to your wishes.
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Mr Crow and his staff are amazing! Especially the person assigned to my account, so a special thank you to Callie! Callie answered all of my questions and set expectations during a very confusing time in my life. Mr Crow and his team worked diligently with my specific situation and were very results driven. I would recommend Crow Estate Planning and Probate to anyone looking for an estate or probate attorney.
Today my wife and I completed (at Crow Estate Planning and Probate) our Will, Living Will, Power of Attorney for Finance and Medical. As a Tennessee CPA for over 20 years (now retired), I’d like to leave this review so that others may benefit. Our experience rating with with Crow Estate Planning and Probate is EXCELLENT. Our legal team was Kyle Shannon, Callie and Julia. This team was competent, courteous, and professional. They made a potentially complex experience “easy” despite multiple minor trusts involved. The charge for professional services rendered was very reasonable. My wife (Denise) and I would like to thank Kyle and his team (Callie and Julia) for a great experience that exceeded our expectations. I will return for legal needs and I will refer family and others to Kyle, Callie and Julia.
I’m very grateful to Mr. Shannon and Callie for the great job they did taking care of my muniment of title. Everyone in Mr. Shannon’s office was exceedingly kind and helpful.
They are caring, very helpful and not too expensive. I would recommend them to anyone that wants to plan for their future death and their children.
Crow Estate Planning was caring, professional and took great care of our family. John personally prepared my mother’s estate and completed her final wishes. Their staff was always friendly and eager to assist. Our family strongly recommends John and Crow Estate Planning
Mr. Crow and his staff were very knowledgeable, prompt and pleasant to work with in the estate planning process. Very satisfied clients and highly recommend!
Working with Kyle Shannon and Brittney Stewart to setup our Living Trust was nothing short than amazing! Very informative, very responsive, and made the whole process easy to complete.
It was an absolute pleasure to work with Kyle establishing my Estate planning needs. Kyle was very thorough and knowledgeable. Kyle’s understanding and professionalism made for a simple and smooth process. Highly recommended!
Be far the best estate planning firm in Clarksville.
Warmly greeted. Attorney was very attentive to our needs. Reasonable fees.
Thomas Steelman 
Crow Estate Planning 
Julia Mynhier 
