Planes, Trains, and Cryptocurrency: How to Deal with Atypical Assets in Estate Administration

In this course, Leah Del Percio, President, CEO, and co-founder of Trustate, one of the world's fastest-growing estate administration platforms, helps estate attorneys understand what to do during an estate administration when their client is handling atypical assets. As people diversify their investment portfolios and amass wealth, there is an increasing likelihood that they will accumulate hard-to-value assets such as cryptocurrency, NFTs, collections (i.e. books, stamps, coins, clothing, even sneakers!), farmland, undeveloped land, livestock, mineral rights, intellectual property, businesses, etc. In this discussion, we will talk about "atypical" assets like the ones mentioned above, and provide a framework and specific guidance on how to deal with them during an estate administration. Attorneys will also learn how to create better estate plans to avoid and minimize issues later on after the client passes away.

Learning Objectives:

1. Review the importance of qualified appraisals during the valuation process
2. Learn why the step-up in basis is important in many situations
3. Explore various asset types and implement tips for how to handle them during planning and administration: outright stock; art; luxury tangible collections; digital assets; client files (professionals in private practice); livestock; oil rights; mineral rights; intellectual property; businesses; cars/motorcycles; vessels; aircraft; firearms; and investment accounts