Blockchain removes intermediaries from transactions. For the most part that’s a good thing – but it can also have unintended consequences. For example, cryptocurrencies like Bitcoin flow between people much like paper money would be handed over. No financial institution is involved in the transaction. The same is true for other assets being tracked by blockchain technology, such as corporate shares.
When someone dies or becomes incapacitated, trustees or attorneys typically get control of that person’s assets through the intermediary. For example, if a trustee knows that the person has a bank account at bank X, they merely contact the . . . [more]