Andrew H. Hook, CELA, AEP, CFP

Hook Law Center
President
Affiliated Chapter

Estate Planning Considerations for Cryptocurrency

September 22, 2022 | 1:00 pm - 2:00 pm

Overview:

With the increasing popularity of cryptocurrency, it is inevitable that financial planners will meet someone who owns cryptocurrency or who intends on adding it to their investment portfolio. Due to the unique and complex nature of how cryptocurrency is purchased and maintained, it is important for financial planners to counsel clients, not only as to how cryptocurrency fits into their overall investment plan, but also as to how the complexities surrounding cryptocurrency can complicate their estate plan and their chosen fiduciary’s access to those assets upon their death or incapacity. If financial planning clients’ fiduciaries are not advised as to at least the existence of cryptocurrency, it is possible that no one will know it exists, leaving what may be a significant asset unclaimed or inaccessible.

Learning Objectives:

  1. Overview of Cryptocurrency and how it is obtained and maintained
  2. Why estate planning for cryptocurrency is needed
  3. How current law helps (or hinders)
  4. Estate planning considerations for holders of cryptocurrency     

About Andy:

Andrew H. “Andy” Hook is the president of Hook Law Center, where he practices in the areas of elder law, estate and trust administration, estate, tax, retirement and financial planning, long-term care planning, asset protection planning, special needs planning, business succession planning and personal injury settlement consulting. Hook Law Center serves southeastern Virginia and northeastern North Carolina. Permanent offices are located in Virginia Beach and Suffolk; however, other clients within the area are served at select locations on the Peninsula and on the Outer Banks.

A 1975 graduate of the University of Virginia’s School of Law, Mr. Hook is a Fellow of the American College of Trust and Estate Counsel (ACTEC) and a Fellow of the National Academy of Elder Law Attorneys (NAELA). Mr. Hook is certified as an Elder Law Attorney (CELA) by the National Elder Law Foundation. Mr. Hook is also a Certified Financial Planner (CFP), Accredited Estate Planner (AEP), and an accredited attorney for the preparation, presentation, and prosecution of claims for veteran benefits before the Department of Veterans Affairs.

Mr. Hook is a former President of the Special Needs Alliance, a nationwide network of disability attorneys, a former Director of NAELA, and a former editor-in-chief of the NAELA Journal. Mr. Hook is the author of the BNA Tax Management Portfolio on Durable Powers of Attorney, and a co-author of “Representing the Elderly and Disabled Client” published by RIA. Mr. Hook in 2018 will become a co-author of the SNT Handbook published by Wolters Kluwer.

He has been interviewed by local radio and television stations, The Virginian-Pilot, and The Wall Street Journal. He also is a frequent speaker at state and national professional meetings, having mostly recently presented at ACTEC’s national meeting in Scottsdale, AZ in March 2017.