Brent talks about crypto and NFTs. He discusses the unique challenges of planning with these assets, including electronic asset laws, document preparation, taxation, valuation, and the fact they are bearer assets. He then discusses what he thinks the future holds, speculating about NFTs for physical things such as real estate rights, private equity, and trusts.
For extra reading, check out Stacy Singer and Fred Weber’s excellent article written for Bloomberg Tax here: https://www.northerntrust.com/united-states/content/dam/northerntrust/pws/nt/documents/wealth-management/2023/bloomberg-tax.pdf
Also, reacquaint yourself with my prior episode with Matt McClintock https://wealthandlaw.com/2021/09/01/wealth-planning-cryptoassets/
And, my episode with Joel Revill https://wealthandlaw.com/2022/04/20/crypto-currencies-and-trusts/
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