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 federal gift, estate, and generation-skipping tax is an additional taxation layer which, for qualifying estates, applies in addition to the income tax. With the extreme volatility of crypto assets, the threshold limit for these taxes can be reached surprisingly quickly, even if seemingly distant today. As is the case with asset protection structures, early advanced planning within the legacy legal system can provide prescient early adopters with powerful options that will elude those early adopters who choose to ignore how the non-digital world works.
Because crypto is new, the vast majority of professionals involved with wealth management – including trust and estate planning attorneys, accountants, appraisers, tax attorneys, corporate trustees and fiduciaries, financial advisors, and retirement planning specialists – are generally uninformed and unaware of the unique circumstances and needs of early crypto adopters. Sweetwater Digital Asset Consulting constantly seeks out exceptional professionals in these fields who also “get it” when it comes to decentralized digital assets – thus saving you time and money as you build your network of professional advisors.
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.