E248 Your Bitcoin Estate Planning New Year Resolutions 2022

<p>If you hold bitcoin, 2022 may be the time to make your New Year resolutions to get your Bitcoin estate planning in order.</p> <p>Everyone approaches crypto differently: Entry level people will probably be on exchanges; more intermediary users may have their own software or hardware wallets. Hardcore bitcoiners probably have hardware wallets, cold storage and maybe even paper wallets – most likely in a multisig structure.</p> <h2>Have you named beneficiary designations?</h2> <p><img class="aligncenter size-medium wp-image-41485" src= "https://anthonyspark.com/wp-content/uploads/2022/01/Have-you-named-beneficiary-designations-300x169.jpg" alt="Have you named beneficiary designations" width="300" height= "169" /></p> <p>Newer bitcoiners most likely hold their crypto on exchanges (Kraken, Binance, Coinbase, etc.). The most important question is: does your exchange allow beneficiary designations? This means filling out a form which says that, upon your death, your account should go to a certain person. (This is similar to naming a beneficiary on your IRA or life insurance). Some exchanges appear to be slowly adopting beneficiary designations. Having a beneficiary is a great way to make sure that someone knows that you own crypto!</p> <p>If beneficiary designations are allowed, are yours up to date? Does it reflect your current wishes, or is it still in the name of your girlfriend from ten years ago? This would not make your current spouse very happy; believe me – we've seen it before! No need to leave those emotional messes for your grieving family.</p> <p>It’s very important to make sure your beneficiary designations are up to date on all accounts, not just your crypto.</p> <h2>Check your letter of instruction and devices</h2> <p><img class="aligncenter size-medium wp-image-41486" src= "https://anthonyspark.com/wp-content/uploads/2022/01/Check-your-letter-of-instruction-and-devices-300x169.jpg" alt="Check your letter of instruction and devices" width="300" height="169" /></p> <p>Intermediate bitcoiners usually hav