Can You Put Cryptocurrency Into A Trust? | Siedentopf Law

With cryptocurrency continue to increase in value, you might consider putting it into a trust. Is that possible?

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TRANSCRIPT: With cryptocurrency going up in value so much,¬†you may be wondering, ‚ÄúCan I put cryptocurrency into a trust?‚Ä̬†I had a client ask me this just the other day, and‚Ķ well?¬†The answer is yes. Yes, you can. I’m estate planning¬†and probate attorney Sarah Siedentopf, and if you’ve got questions about cryptocurrency and trusts,¬†please give me a call. But in general,¬†yes. Although it’s a little bit different than how you would normally put things into a trust.

Normally, you would transfer the deed to your house into the trust by changing the title.¬†As we know, cryptocurrency doesn’t have names¬†or social security numbers attached to it.¬†You have a wallet and key which can be stored on any kind of digital format,¬†and if you lose these, you can’t get the cryptocurrency back.¬†So, mentioning the cryptocurrency in your¬†trust so that your trustee knows to look¬†for it and then hopefully giving a very specific letter of¬†instruction to your trustee explaining exactly¬†how they’re going to go about finding this cryptocurrency.¬†

Of course, it’s very important to make sure that it is safe in the interim. So you’ll want to think that transfer through,¬†but you can in fact place cryptocurrency in a trust and have your trustee deal with it.¬†If you’ve got more questions or would like to put cryptocurrency into a trust,¬†please give me a call. I would also welcome your comments. Thanks.

To learn more, you can read our blog on Estate Planning and Cryptocurrency:

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