A recent NBC poll has found that one in five adults have invested in traded or used cryptocurrency. Among the demographic groups studied, men between the ages of 18 and 49 years of age were the most likely to admit they've dabbled in Bitcoin and cryptocurrency at a rate of roughly 50%. For African Americans, 40% said that they have traded or used cryptocurrency. Currently, cryptocurrency has a market capitalization of $2 Trillion dollars. The Internal Revenue Service classifies Bitcoin as “intangible property” while the CFTC treats it as a commodity.
There is absolutely no doubt that digital assets will be uncovered in an estate; and these assets will need to be recovered for heirs. How does an estate planning professional recover a virtual, decentralized asset with no customer service desk? What obstacles and security features must be known to successfully recover encrypted assets stored in a decentralized blockchain? Do your clients have an inventory of what’s in their digital wallet? Bill Ulivieri, the owner of Cenacle Capital Management, LLC, a frequent contributor on the WBBM Noon Business Hour will share his expertise and offer practical advice that can help you speak intelligently and prepare for the inevitable news that a substantial portion of client assets are locked in cryptocurrency. Program Schedule
Registration Note: This meeting is in-person only. Registration will be available until 5:00 pm on Tuesday, May 17. A link to download the meeting handout will be sent with your email registration confirmation.
Covid-19
The Wojcik Conference Center currently has a "Masks Recommended" policy. Updates will be provided as received. CPE and CLE Credit: 1 hour
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