Digital Assets, Cryptoassets & Estate Planning - Unravelling the Complexities

Introduction

Estate planning with digital assets generally involves being able to identify them and to have an understanding about their administration.

These hurdles are even more pronounced with cryptoassets.

It is necessary to understand the fundamentals of how they are transmitted and their proprietary nature, particularly with the operations of smart contracts and modern institutions like decentralised autonomous organisations.

Additionally, the taxation of cryptoassets has become more complex with the creation of crypto-platforms offering blockchain-based services traditionally supplied by financial service operators.

During this new full day course, you will learn about the process of identifying the assets in a crypto estate and how to plan for them, using trusts and wills. The course will also cover the basics of crypto investment, including the new decentralised finance initiatives and the approach taken by HMRC to the taxation of crypto-tokens, including non-fungible tokens (‘NFTs’) and the operations of DeFi platforms.

What You Will Learn

This course will cover the following:

• Brief Introduction to Cryptoassets:
• Distributed ledger technology and decentralisation
• Wallets and custody
• Smart contracts and decentralised finance
• Non fungible tokens
• Acquisition and transfer
• Valuation and other information
• Common transactions
• Creating an Estate Plan for Cryptoassets:
• Identifying the estate
• Use of Trusts:
• Documentation and constitution
• Investment of cryptoassets
• Succession:
• Administration
• Ensuring access after death
• Will drafting
• Taxation:
• Inheritance tax
• Capital gains tax
• Income tax