Topic: Special Needs Trusts (Read 300 times)
If the exchange has issues with putting the account in the trusts name, there are exchanges that don't even ask who you are.
I am not a lawyer, but I have had trusts setup before (including a special needs trust).
Establishing the trust is a legal process and I would suggest consulting a qualified attorney who practices in that area. The cost can vary widely, so it pays to shop around. ( I know I paid considerably less than what you quoted to establish the trust.)
Funding the trust is separate from setting up the trust. As far as I know, there is no restriction on what kind of assets a trust can have, assuming it's a legal asset of course.
When it comes to Bitcoin or any other similar asset, the US case law is sparse, so,it's hard to know for certain what the IRS or a state government would decide. So, if you are really serious about this, the suggestion of getting the best legal advice you can afford is a good idea.
Establishing the trust is a legal process and I would suggest consulting a qualified attorney who practices in that area. The cost can vary widely, so it pays to shop around. ( I know I paid considerably less than what you quoted to establish the trust.)
Funding the trust is separate from setting up the trust. As far as I know, there is no restriction on what kind of assets a trust can have, assuming it's a legal asset of course.
When it comes to Bitcoin or any other similar asset, the US case law is sparse, so,it's hard to know for certain what the IRS or a state government would decide. So, if you are really serious about this, the suggestion of getting the best legal advice you can afford is a good idea.
Wish I could justify it. They wanted $3k to write the trust. That's a huge chunk of the $15k settlement. I don't mind doing the research. I wrote the trust myself from materials in the local county law library and the county attorney approved it. Just could use some pointers.
you should ask an attorney as the legislation can be very different depending on the country/ state.
And information here can be untrustfull here.
It will cost you money but for a better returns once you are launched
And information here can be untrustfull here.
It will cost you money but for a better returns once you are launched
Anyone know where I can find information on having cryptocurrency (and mining income) in a Special Needs Trust? I've found very little with internet searches, and hiring a CPA/attorney (tax/trusts) for this would eat too much of the funds. I'm trying to figure out how picky is the state/IRS with showing possession of those funds? Does it only need to be shown when spending coins or trading for fiat? Is there even a way to setup an exchange account in the trust's name?
Any help would be greatly appreciated!
Any help would be greatly appreciated!
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