What Is Coinbase Anyway?

Coinbase isn’t a traditional bank account—it’s a suite of tools within Coinbase’s platform designed to manage your assets securely. It lets you store crypto, convert it to fiat, and even integrate with estate planning tools. Why does this matter? Because crypto is tricky to pass on. Without clear instructions, your Bitcoin could end up locked in a wallet forever. Coinbase helps you document access details and assign beneficiaries, ensuring your digital wealth doesn’t vanish.  

Here’s a quick example: My cousin Mark, a crypto enthusiast, used Coinbase to link his wallet to a trust. When he updated his estate plan in 2023, he saved $8,000 in potential taxes by structuring his assets properly. That’s real money, not just numbers on a screen.  

The Power of an Irrevocable Trust

An irrevocable trust is like a safe deposit box for your wealth. Once you place assets in it, they’re protected from creditors, lawsuits, and even some taxes. Unlike a will, which can be contested, a trust is ironclad. Plus, it’s private—no public court battles.  

Worried it’s too complex? It’s not. Here’s a simple breakdown of how to create an irrevocable trust:  

* Choose a Trustee: Pick someone you trust (or a professional) to manage the trust.  

* List Your Assets: Include crypto, property, or savings. Coinbase can help catalog digital assets.  

* Set Terms: Decide who gets what and when (e.g., “My kids inherit at 30”).  

* Hire a Lawyer: A pro ensures your trust is legally sound. Expect to spend $1,000–$3,000.  

* Fund the Trust: Transfer assets into it. Coinbase simplifies moving crypto.

Pro Tip: Download my irrevocable trust checklist here to stay organized. It’s a printable PDF I created after watching Sarah’s uncle’s estate mess unfold.  

By John Paul

(Disclosure: Contains affiliate links, but hey, gotta pay the bills somehow, right? I only recommend products I truly believe in.)