Kraken Publishes Customer Experience on Trust Account Opening and Estate Planning
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Cryptocurrency exchange Kraken has published a practical case study of a family estate planning and trust account opening process for a client based in Massachusetts, USA. With the assistance of an estate planning attorney, the client's family completed a full set of legal documents—including a revocable trust, pour-over will, guardian and property manager nominations, and power of attorney—in approximately one month, with legal fees totaling around $7,000. The family completed Kraken's standard onboarding process for legal entities by submitting the trust documents, identification for two trustees, and a taxpayer identification number, and the review to open a Kraken account under the trust's name was completed within a few hours. Kraken notes that a trust only has control over assets registered under its name, and that account review times vary depending on the client's circumstances, with no universal guarantee.
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- Kraken BlogHow a Kraken Customer Planned Their Estate and Opened a Kraken Account in the Name of a Trust
A Kraken customer residing in Massachusetts, USA, shared their family's complete estate planning process. With the assistance of an estate planning attorney, the family established documents including a revocable trust, a pour-over will, guardian and conservator nominations, and a power of attorney. The legal fees were approximately $7,000, and the entire process took about one month. The family completed the standard onboarding process for legal entities through Kraken, submitting trust documents, trustee identification, and a taxpayer identification number. The review for opening a Kraken account in the name of the trust was completed within a few hours.
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