Frequently Asked Questions
Digital Family Office FAQ
- Who can benefit from Digital Ascension Group’s services?
Digital Ascension Group primarily caters to high net worth clients & family offices. Our team works to empower you with innovative digital solutions tailored to your specific needs.
- How can I be proactive if I believe a Digital Asset Liquidity Event will happen to me in the future?
Depending on your jurisdiction you may want to get assets into a trust of LLC prior to their appreciation. Meet with a member of our team to determine the best path forward to suit their needs and you will be introduced to an experienced professional to assist you. It is never too early to get started on your investment plans.
- What Separates Digital Ascension Group from other options?
Every one of these professionals has gone through your situation in their own life. Some with a digital asset liquidity event, others not knowing who to trust when coming into a large sum of money, or the death of a loved one who didn't create the structures and the asset protection needed for passing on their wealth to the next generation. At Digital Ascension Group were committed to bringing only the top professionals in digital assets, together to create the best holistic digital wealth management solution available.
- What should a Digital Family Office include?
A family office is a private wealth management firm established by an ultra-high-net-worth family that provides that family with a selection of personalized services that include investment management, financial planning, estate planning, tax planning, philanthropic investing, and progressive technology to connect your team and investment partners.
- Why should I build a Digital Family Office?
A digital family office is a group of professionals that holistically provides services to a family to help them manage the complexity of their lives—in particular, to grow their financial wealth, support the family's long-term goals, manage family needs of various kinds, and coordinate across all of their endeavors.
Digital Asset Holding Company FAQs
- What are the benefits of transferring Digital Assets to a LLC before price appreciation?
Immediate creditor protection, anonymity in transacting with assets, and established history with banks and partners so accounts aren’t frozen or flagged, all of this provides peace of mind, ensuring you’re not scrambling or making costly mistakes when prices move quickly.
- Is it my understanding that transferring the crypto into the LLC triggers a taxable event? Is that correct?
Tax laws can vary based on your jurisdiction. It’s important to consult with a qualified tax advisor such as your CPA to get accurate information tailored to your specific situation. That said, in many jurisdictions, transferring crypto assets into an LLC (Limited Liability Company) could be considered a taxable event. When you move assets between entities, it might be treated as a sale or exchange, potentially triggering capital gains or losses. The tax implications can depend on various factors, including the tax laws in your jurisdiction, the purpose of the transfer, and the structure of your LLC. It's crucial to seek professional advice to ensure compliance with local tax regulations and to understand the specific consequences of such transactions in your particular case. Tax laws are subject to change, and consulting with a tax professional will help you make informed decisions based on the latest regulations and your unique financial situation.
- I am contemplating forming an LLC for my crypto. Do I need a specific dollar amount to begin this process?
No, there is no dollar value pre-requisite