Do any of you have your #Bitcoin in a Trust?
I’m thinking about making a long form video explaining the nuances of Trusts and #btc ownership.
Discussion
Bitcoin is trustless….without needing to trust a third party or central institution.
Yes it is, but I’m referring to Trust instruments, which I expect to be useful for a certain class of #Bitcoin owners in the US
Understood. Just teach them the power of trustless and how to safeguard their keys.
100% agree. My thoughts are the challenge of legally passing down assets in the US, especially if Bitcoin was bought via KYC exchange. So this would only be an extension to self-custody.
Thanks for the suggestion!
The issue I think with most estate planning is that your typical trustee won’t have a clue what to do with bitcoin. Probably why most of my clients with substantial stacks use 2/3 multisig solutions like Unchained, Casa and Everlasting for estate planning / inheritance purposes.
Your beneficiary/lawyers/accountant would be trustee(s) presumably, and you need to educate them how to access it. Assuming you die a long time from now, it will be well known how to use multisig imo.
The other purpose of trusts is to also preserve privacy, whereas having it at a custodian would certainly expose you to US controls.