Estate Planning: Crypto Competence

I blog often on the duty of competence.  It’s in the very first rule.

Until today, I’d not considered Rule 1.1’s application to lawyers who provide estate planning services to clients who own cryptocurrencies.  Rather, with cryptocurrency, I’d only considered the ethics issues associated with accepting it as payment for legal fees.

Today, I came across this post in the ABA Journal.  It includes tips for lawyers who want to provide estate planning services to clients who own crypto assets.

My gut tells me that limiting an estate plan to a client’s non-crypto assets likely isn’t a reasonable limitation.  Even if it was, as a practical matter, I don’t know that many clients would be interested in an estate plan that excludes some of their assets.  Thus, it strikes me that, if it isn’t already, “crypto competence” soon will be a thing for lawyers who provide estate planning services.

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One thought on “Estate Planning: Crypto Competence

  1. The crypto-currency is really interesting. Especially when it exists as part of a trust accompanied by the Trustee’s duty to invest and diversify responsibly. Would a Trustee have a responsibility to divest a trust of crypto currency and replace it with a less volatile currency, more predictable with respect to market activity?

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