COLORADO WEST ESTATE PLANNING COUNCIL

We will have Lee Borden speak about The Art Center and how The Art Center is dedicated to enriching lives by promoting the enjoyment and understanding of the arts.

We also will have Abigail Earthman here to present on Building Blocks of Blockchain: Primer on Cryptocurrency for Estate Planners"

Cryptocurrency has created a lot of buzz – both hype and skepticism. Although cryptocurrency has been in existence since 2008, it is a cutting edge issue in estate planning. Due to its technological, digital nature, cryptocurrency presents interesting and uncertain tax and practical considerations in planning with this special type of asset.
This presentation outline first will provide background on blockchain, the technology underlying cryptocurrencies, and the evolution of cryptocurrencies, such as Bitcoin, in an attempt to demystify the technical features and mechanics of both blockchain and cryptocurrencies, which generally are misunderstood. Even the terminology is confusing so this outline also includes a glossary of the terms used in this area of the tech world which could be viewed as a different language all together.
This outline then addresses planning and specific areas of consideration, such as fiduciary issues related to access to digital assets, transfers, trust funding, custody and titling, which highlight the importance and the need for proper planning and drafting. The characterization of cryptocurrencies as “property” and not currency for purposes of taxation and other regulatory considerations round out the discussion while weaving in areas of planning opportunities and challenges.

ABIGAIL ROSEN EARTHMAN
Abigail Rosen Earthman is a member of Winstead’s Wealth Preservation Practice Group. Abigail handles federal gift and estate tax litigation against the Internal Revenue Service across the country, as well as state fiduciary and probate controversy work in Texas courts. She also counsels clients nationally regarding complex estate administration and litigation and audit risk minimization.
She is a Fellow of the Real Property, Trust and Estate Division of the American Bar Association, where she serves as Chair of the Tax Litigation and Controversy Committee. Abigail received her J.D. from Texas Tech University School of Law and an LL.M in Taxation from Georgetown University Law Center. She has represented clients before the United States Tax Court and United States District Courts in the Northern and Southern Districts of Texas.

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