Legacy Planning with Digital Assets

The advent of digital age has given rise to an exciting new asset class, including digital coins and blockchains, such as Bitcoin, Ethereum, meme coins, non-fungible tokens (NFTs). According to the CNBC Millionaire Survey, 47% of the 750 surveyed millennial millionaires have at least 25% of their wealth in cryptocurrencies, while more than a-third has at least half their wealth there. One could question if this is a cause or effect, but the undeniable fact is that it has become an asset class that cannot be overlooked. According to a survey by Goldman Sachs, nearly half of the 150 family office respondents want to add digital currencies to their stable of investments, as higher inflation, historically low interest rates for sustained period are driving those managing wealth to Alternatives as a hedge. Further, as a large portion of these ultra-rich may have made their fortunes due to the technological boom, so they would be more inclined to invest within this space. Some have likened the implications of blockchain technology to be as significant as that of the internet.