Despite all the debate about the long-term value of cryptocurrencies and NFTs, the fact is right now they can be worth a great deal.

And if you believe they will continue to hold or increase in that value, that means you need to consider how to one day pass them on to your heirs. Kiplinger discussed the topic recently to share how you can ensure all of your assets wind up in the right hands.

To start, you want to make sure your heirs can even log in to access your digital assets. Cryptocurrencies in particular are a bit infamous for being so secure that even the original owners can wind up being locked out of considerable money due to forgetting their log in information.

That is why one solid recommendation is to share those details with your fiduciary. This creates an official point of contact for where that information can be found. You do not want to leave such details to memory or have them simply written down somewhere that could wind up thrown away.

You also want to start looking into what the company handling your accounts allows. Some will permit you to set up your investments as a trust or name beneficiaries, but many others currently will not.

However, at the very least, you should be able to set up your accounts to be passed on via your will. If that is not a preparation you have made already, it is never too early to prepare for the unexpected.

Fred Hubler, Chief Wealth Strategist for Creative Capital Wealth Management Group which offers retainer-based advice and access to accredited investments told MONTCO Today, “we use an online portal for our clients to link all their stuff (even investments outside the ones we manage) and we use that as our hub to help the client organize their investments.”

Once we are aware they own digital assets, Hubler continued, “we request that their user name and password are shared with their spouses and fiduciary’s so that those assets are not difficult to deal with at death.”

The truth is that security around cryptocurrency and NFTs is so tight that you can easily be caught off guard about the difficulties in sharing them with others. Having a plan now is the best way to ensure all of your assets will go to the right people.

For more considerations when it comes to bestowing your cryptocurrencies and NFTs to others, consult the article from Kiplinger here.

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Want to know if you’re on the right path financially? CCWMG’S Second Opinion Service (SOS) is a no-obligation review with one of  Creative Capital Wealth Management Group‘s Wealth Strategists. 

It’s simply not possible to get a reliable second opinion from the same person who gave you the first one. Click here to schedule an SOS meeting with Fred and his team.

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