Is New Technology Blockchain an Estate Planning Option?

BlockchainFirst, what is Blockchain? "An encrypted technology distributed on private computers." In other words, it is a computer system that stores information that once input into the system, can not be edited or changed. Information is stored on a large network of computers that interact to verify information and identities so it is almost impossible to hack.

The Blockchain system is very similar to the technology behind cryptocurrency and the idea of Bitcoin.

Information is put in the blockchain and it can only be changed by someone who has the right encryption key.

That is an idea that can possibly be used for estate planning, according to Nasdaq in "Blockchain Technology, Estate Planning and Resting Place Management."

The idea appears to be that a person can put their estate planning wishes on the blockchain. They could easily access and update it during their lifetime. After they pass away, it could then be accessed by a trusted loved one who has been given their encryption key, and the instructions carried out automatically and immediately. This same technology could also be used for creating a registry of burial places.

Distributing an estate after someone passes away, does take some time. It would be nice if some of that time could be saved.

Reference: Nasdaq (May 30, 2018) "Blockchain Technology, Estate Planning and Resting Place Management."

Subscribe to our newsletter


Now is the time.

Protect yourself and those you love.

No matter where you are in life’s journey, we are here.

Whether you need to create an estate plan, protect minor children, need help with long-term care, or you own a business, our caring team can help.

We have 3 convenient locations throughout Mid-Michigan and are ready to serve you.

Take your first step by contacting us today.

Skip to content