The Wealth Counselor

Help Clients Plan for Their Digital Footprint

Clients no longer distinguish between the assets they can physically touch and the ones that exist only online. A person cannot hold cryptocurrency in their hand, but they can transfer significant value instantly from a mobile wallet. They may never step into their e-commerce business, but it can generate substantial income for them that flows directly into digital accounts. Read more to learn that without clear planning and authority, a client’s digital assets can be difficult or impossible for fiduciaries or heirs to access, creating gaps in an otherwise well-structured estate plan.

Crypto is the only asset class where a simple loss of access, not market decline, can wipe out an entire fortune. And that risk does not disappear when a client dies. If an executor cannot locate the wallet, seed phrase, or authentication steps, the asset may as well not exist. Read more to share this valuable lesson with your clients: those who own crypto need an estate plan that accounts for how uniquely valuable—and fragile—these assets can be.

Preventing cybercrimes such as identity theft starts with awareness, including the recognition that cybersecurity is not just an IT problem anymore. It is a wealth preservation issue that can affect someone’s legacy even after they are gone. And for advisors, that awareness plays a central role in strengthening clients’ digital defenses long before their estates ever reach administration. Read more to learn about having “the talk” with clients about cryptocurrencies and their digital estate plan if they have one.

This information is for educational purposes only and cannot be considered legal advice, nor does the receipt of this newsletter create an attorney-client relationship.