Page 18 - The Jewish Voice - May '23

Page 18, The Jewish Voice

Lifestyles from page 17 through your residence, cryptocurrency can be a lot harder
to find. Depending on the type of wallet you use, it may Food Allergies Can Cause
working with Ripple. However, it is extremely rare for not be obvious to your loved ones that you own something a Variety of Symptoms in
anyone to be able to access cryptocurrency without a plan. of potentially high value. This is why it is important that
Because the value of the XRP fluctuated by you have a plan for your cryptocurrency. A trusted person Children
approximately 30 percent in the weeks after Mellon’s needs to know that you own cryptocurrency, the type you
death, it was crucial that the XRP be liquidated quickly own, how it is stored, how to access it when necessary, What is a Food Allergy?
to pay his outstanding debts, income tax obligations, and and what your wishes are for it after your death. Failing A food allergy is an
estate tax. However, Mellon had entered into an agreement to address this planning will leave your family without a abnormal immune system
with Ripple that limited the amount of XRP that could be clue as to what you truly owned at your death. response which occurs
sold at a given time. This delayed the wrapping up of his Cryptocurrency is an amazing advancement for secure when the body mistakes an
affairs. By the end of 2019, his estate was worth less than and private transactions. This groundbreaking investment ingredient in food – usually
half of the original value at his time of death because the strategy has the potential to forever change how we view a protein – as harmful.
XRP had lost about two-thirds of its value. money and financial transactions. Because it is so new, The reaction typically
Had Mellon been upfront with his trusted finding and managing cryptocurrency may present some occurs shortly after the food
decisionmakers and advisors, they might have been able barriers. To best protect yourself and your loved ones, is ingested and reactions
to craft a plan that provided his estate with the necessary we encourage you to speak with a trusted advisor to craft can vary from mild to
funds to pay his outstanding obligations without having your cryptocurrency plan. severe. Individuals with
to rely primarily on the XRP. Additionally, if his plan Call our office today at 561-694-7827, Elder & Estate food allergies are advised to
had made it easier for his fiduciaries to gain access to Planning Attorneys PA, 480 Maplewood Drive, Suite 3, strictly avoid the offending
the cryptocurrency, they might have been able to start Jupiter, FL 33458. foods in order to avoid a Arnaldo Perez, M.D., Allergy
the sell-off sooner, when the value was higher. The content of this article is general and should not be potentially serious life- and Clinical Immunology
Forgetting Your Password Can Be Expensive relied upon without review of your specific circumstances threatening reaction called
Stefan Thomas, a software developer, was an early by competent legal counsel. Reliance on the information anaphylaxis.
adopter of Bitcoin. In fact, he created a video in 2011 herein is at your own risk, as it expresses no opinion by “Any food may cause an allergic reaction, but some
about how digital currency works and was awarded 7,002 the firm on your specific circumstances or legal needs. food allergies are much more common than others,” says
Bitcoins. To store his Bitcoins, Thomas used a USB hard An attorney client relationship is not created through the Arnaldo Perez, M.D., a Cleveland Clinic Florida allergy and
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drive known as an IronKey that contained his digital information provided herein. immunology specialist who practices at the Cleveland Clinic
wallet. Later that same year, he lost the password to his To comply with the U.S. Treasury regulations, we must Florida locations in Wellington and Coral Springs. “Eight
IronKey. IronKey allows only ten attempts to enter the inform you that (i) any U.S. federal tax advice contained foods – milk, eggs, peanuts, wheat, soy, tree nuts, fish and
password before it is encrypted forever. As of January in this newsletter was not intended or written to be used, shellfish – are responsible for 90 percent of food allergies in
2021, he had only two attempts remaining. Although the and cannot be used, by any person for the purpose of children.”
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value of Bitcoin has dropped significantly, his Bitcoin is avoiding U.S. federal tax penalties that may be imposed What are the Symptoms of a Food Allergy?
still worth well over $100 million dollars. Unfortunately, on such person and (ii) each taxpayer should seek advice Symptoms of a food allergy can range from mild to severe.
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unless he remembers his password or is somehow able to from their tax advisor based on the taxpayer’s particular These may include:
get around it, he will never see that money. circumstances. • Skin problems: rash, hives, swelling, itching
This should serve as an important lesson for all of us. 1 Grace Ferguson, How a cryptocurrency fortune • Stomach problems: cramping, nausea, vomiting, diarrhea
Items that require a password do so for a reason. However, crippled a deceased billionaire’s estate, The Daily Dot • Respiratory symptoms: shortness of breath, cough or
we cannot always assume that we will remember it or that (Dec. 23, 2021), https://www.dailydot.com/debug/death- wheezing
someone else will be able to retrieve it for us. You must internet-cryptocurrency-matthew-mellon/. Anaphylaxis is a very serious allergic reaction that
have a system in place to make sure that you or your trusted 2 This man owns $321M in bitcoin — but he can’t access is quick in onset. It can involve a number of symptoms
decision makers can access your passwords when necessary. it because he lost his password, CBC Radio-Canada including an itchy rash, throat swelling or a drop in blood
Dead and Gone (Jan. 15, 2021), https://www.cbc.ca/radio/asithappens/ pressure; if untreated, it can even result in death.
Matthew Moody, a miner of Bitcoin, tragically passed as-it-happens-friday-edition-1.5875363/this-man-owns- What Should I do if I Think My Child has a Food
away at the age of twenty-six in a plane crash. At the time 321m-in-bitcoin-but-he-can-t-access-it-because-he-lost- Allergy?
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of his death, he owned Bitcoin that he mined. However, his-password-1.5875366. If your child has symptoms that indicate an allergy to
no one, not even his parents, knows how to go about 3 Steve Marshall, The latest gamble to recover man’s a particular food, keep that food out of your child’s diet
finding it. No one knows how much he owned, where it lost Bitcoin fortune, A Current Affair, 9 Now, https://9now. and discuss the symptoms with your child’s pediatrician
was stored, or how to access it. Depending on how much nine.com.au/a-current-affair/bitcoin-software- right away. Your child’s pediatrician may refer you to an
he owned at the time of his death, this could be a nice developer-stefan-thomas-fortune-rising-forgotten- allergist who can help you confirm whether your child has
sum of money for his loved ones; but because Moody did millions/1e0f32bb-62ed-464c-8ac1-63716779bdfe (last a true food allergy and if strict avoidance of the offending
not share this information with his family and, like most visited Dec. 2, 2022). food is necessary.
twenty-somethings, did not have an estate plan, it will 4 Bitcoin Price, CoinDesk, https://www.coindesk.com/ Physicians in Cleveland Clinic Florida’s Department of
remain a mystery to his family. price/bitcoin/ (last visited Nov. 23, 2022). Allergy and Immunology treat patients with a wide range of
While it may be easy for your loved ones to determine 5 Bloomberg News, Legislation is needed to help heirs allergic and immunologic disorders, from asthma to food and
most of what you own at the time of your death by going access bitcoin accounts, Investment News (Feb. 18, skin allergies. To schedule an appointment with Dr. Perez
through your mail, searching your computer, or looking 2022), https://www.investmentnews.com/legislation-is- or another Cleveland Clinic Florida allergy specialist, call
needed-to-help-heirs-access-bitcoin-accounts-73449. (877) 463-2010 or visit ClevelandClinicFlorida.org/Access.

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