Cryptocurrency in your estate

With the rise in the number of investors in South Africa holding cryptocurrencies as part of their investment portfolio, international family office Stonehage Fleming is calling for a more responsible approach to ensure an enduring financial and family legacy for future generations.

Stonehage Fleming says that alarmingly, in the majority of cases, investors have failed to give their beneficiaries a full picture of their crypto holdings, meaning that in the event of death, it would be very difficult for heirs to know how and where to access this wealth.

“As a young industry, with no steadfast rules or regulation, it is crucial for investors to become more responsible in their attitude towards cryptocurrency investing,” said Eran Brill, director in the Investment Management division at Stonehage Fleming in South Africa.

“The crypto market has experienced rapid, colossal growth. Although the initial hype may have eased slightly, there are many wealthy families who have not…