This is a great article from the Crossfit Journal discussing the Handstand, its progressions and benefits. Enjoy!
The handstand is an increasingly important skill to master for athletes who want to advance in CrossFit. Balances, handstand push-ups, walking—they all start with proper positioning and stacking of the body when inverted.

To walk for any significant distance, it’s important for athletes to first develop the skill of holding a free handstand—stand before you walk. Similarly, learning the positioning necessary for a handstand hold can eventually lead to learning such skills as free-standing handstand push-ups.
“The handstand is the most underrated and overlooked tool you have in your arsenal of skills when developing spatial awareness and strength.”
—Jeff Tucker
Handstand Flexibility Requirements
Optimal handstand positioning requires a certain level of flexibility, particularly in the thoracic spine and shoulders.
To test thoracic-spine mobility, the athlete begins on the hands and knees, then sits the buttocks onto the feet and places the forearms together on the floor in front of the knees