Special Needs Trusts

[numeratrix]

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!

[1715164096]

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[1715164096]

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[1715164096]

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[1715164096]

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[rouhaud]

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

[numeratrix]

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.

[Turner77]

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.

[zsmith]

If the exchange has issues with putting the account in the trusts name, there are exchanges that don't even ask who you are.