My will covers all my assets, including my cryptocurrency and online accounts.

While a will can generally address "all assets," it often lacks the specificity required for digital assets. Cryptocurrencies require private keys or seed phrases, which a will typically doesn't detail. Online accounts are governed by terms of service agreements and privacy laws that can supersede a will. Without explicit instructions and access information (like in a Letter of Instruction), digital assets can become inaccessible or difficult to manage for heirs.

I don't need to discuss my estate plan with my family; it's a private matter.

Keeping your estate plan entirely private can lead to significant confusion, delays, and family disputes after your passing. While you don't need to reveal every financial detail, discussing the existence of your plan, the location of important documents, and the roles of your executor and trustees is vital. Open communication, especially regarding digital assets and their access, can prevent financial loss and emotional stress for your heirs.

Estate taxes will wipe out my children's inheritance, so it's not worth planning.

For most Americans, federal estate taxes are not a concern due to the high exemption thresholds (projected around $13.61 million per individual in 2026). Even for larger estates, strategic planning using trusts, charitable giving, and other tools can significantly minimize tax liabilities. Focusing on proactive planning ensures your assets are transferred efficiently and according to your wishes, regardless of tax implications.

Intergenerational Wealth Preservation: Bridging Digital & Traditional Assets | One Percent Finance