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5 Things Bitcoin Owners Must Do When Estate Planning

When it comes to estate planning, very little has been mentioned about bitcoin. While bitcoin is subject to wills and revocable living trusts like any other asset, there are some special considerations.

Most seasoned holders of bitcoin are aware of IRS Notice 2014-21. For those unaware, the notice holds that for US tax purposes, bitcoin is to be treated as property rather than currency. The notice is wrongheaded, foolish and probably was issued with intent to slow down bitcoin adoption. Nonetheless, we’re stuck with it until bitcoin adoption increases to the point where the IRS recognizes it as a currency.

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