Digital Assets - Handle With Care

Digital assets are now owned by some of the world's wealthiest individuals and families. While the jury is still out in some jurisdictions in relation to the legal and tax status of these assets, holding them through corporate vehicles or trust structures is obviously going to be an attractive choice for high-net-worth individuals.

But what are the challenges? What can go wrong? What can trustees do to avoid the pitfalls, protect the beneficiaries and importantly protect themselves?

As I write, crypto assets are in the limelight for the wrong reasons with the value of Bitcoin and other currencies struggling, a red flag to any trustees who have invested in crypto, but still, we can expect the next generation of clients to be using these assets on a regular basis in 10 years' time.