Just a few critical years ago, you had the intelligence to understand the mechanics of Nakamoto consensus, the foresight to envision the growth of your cryptocurrency’s community, and the courage to act financially on your convictions. You’ve figured out self-custody and have avoided the many technical pitfalls that have trapped others along the way. Congratulations. But are you ready for the world outside of crypto?
Unfortunately, it is a reality that wealth of any kind - either conventional or crypto - can be targeted by others via lawsuit, regardless of the merit of their underlying claims. Between potential liability claims and property division demands from a future ex-spouse, are you prepared?
New layers of taxation can await the newly successful. For example, for U.S. taxpayers, the 40% federal gift and estate tax applies for wealth transfers above $11.58 million. With the extreme volatility of crypto assets, these limits, even if seemingly distant today, could kick in surprisingly quickly for unprepared early adopters.
Because crypto is new, the vast majority of professionals involved in wealth management - including trust and estate planning attorneys, accountants and tax attorneys, corporate trustees and fiduciaries, financial advisors - are generally uninformed and unaware of the unique circumstances and needs of early crypto adopters.
Retaining Sweetwater Digital Asset Consulting, LLC gives early adopter clients access to a highly personalized “sherpa” service guiding early adopters to deploy their own customized and cost-effective protective network of crypto-savvy attorneys, accountants, and fiduciaries.