LifeLegacy Launches Industry-First Method to Leave Cryptocurrency in a Will
LifeLegacy, a philanthropic estate planning platform, has announced that it will enable individuals to include cryptocurrency in their legacy plans through the company’s online Last Will and Testament. This marks the first time that digital assets can be included in a completely free online Will.
“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,” added co-founder of LifeLegacy, Austin Cassidy. “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.”
The inclusion of a digital asset bequest is a critical piece of LifeLegacy’s mission of “making social impact accessible and inclusive for all.” This revolutionary option will make it easier for those interested in supporting their family, charities, and causes to make a bigger impact. As the valuation of these assets is important for charitable deductions, LifeLegacy has partnered with Appraisal Bureau, which assists clients across the country with digital asset appraisals and more.
As wealth held in cryptocurrency is becoming a larger proportion of an individual’s estate, LifeLegacy aims to make it possible to pass your Bitcoin, Ethereum, or any other crypto asset to your loved ones or a favorite charity. 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.
“Giving individuals the access and ability to gift their digital assets broadens Americans’ capacity to leave a lasting legacy,” Cassidy concluded.