Cryptocurrency isn’t the only digital asset your estate plan needs to address. However, it may be the one with the most value. If your estate plan doesn’t address digital assets, or if your executor, or trustee, is unfamiliar with digital assets, those investments could disappear or become inaccessible. This blog will explain what you’ll need to do if you want to pass your digital wealth on to your loved ones.

Crypto owners use a variety of tools to ensure that their assets are not easily accessible. Such protection is vital because Bitcoin is a bearer asset, meaning whoever has access to the asset owns it. Strong protection is great while you’re living. However, if your estate plan isn’t ready, these same protective measures can prevent your loved ones from benefitting from the cryptocurrency you’ve worked to accumulate. Think of it as if you were trying to locate the keys to a loved one’s home, versus trying to get past the facial recognition software on their phone after they’ve been buried.

How you own your digital currency will also make a big difference in what must be done to gain control of it. If they are indirectly owned through exchange-traded funds (ETFs) or stocks owning cryptocurrency, your executor or trustee will access them in the same way they would any other investment account. If you store coins on cryptocurrency exchanges, your executor or trustee will need to access the account. You can share your private keys with beneficiaries, or if the exchange permits you to name beneficiaries for an account, follow the instructions provided by the exchange. Please note that not all exchanges offer this feature.

For the most part, however, cryptocurrency remains the Wild West, and you must protect your property yourself. Don’t expect your executor or trustee to be able to navigate this new world unless they have all the necessary information. There’s no registry or clearing house and no paper trail to follow.

You’ll need to provide the people you have named as executors or trustees with a list of coin names, the number owned and their location: on an exchange, in a digital wallet, or stored offline in a physical device. They’ll need to know how to access private keys or seed phrases.

If your coins are stored on your mobile phone or laptop, someone will require information to unlock these devices. If you use a biometric lock for your phone, such as facial recognition or fingerprint recognition, you’ll need to create an alternative means of accessing the device. Passwords to access cryptocurrency exchanges, digital wallets and those required to access email accounts and authenticator apps used for multifactor authentication will also be needed.

Managing crypto and digital assets during the probate process can be complex for those unfamiliar with the space. Because of this, you may want to choose an executor or trustee that has experience with cryptocurrency.  If your executor or trustee does not have experience with cryptocurrency or other digital assets, you may want to prepare them for the role.

Finally, don’t include any access information in your written estate planning documents, particularly your will. Once a will is admitted to probate, it becomes a public record. Talk with your estate planning attorney about creating a separate document containing this information to be shared with your fiduciaries. Ensure that your fiduciaries are prepared for this task and be sure to appoint a successor in case they are unable or unwilling to serve when the time comes.

If you want your beneficiaries to reap the benefits of your forward-thinking investments, these resources need to be in place and planned for as part of your estate plan.

Reference: Barron’s (June 14, 2025) “You Struck It Rich With Bitcoin. How to Leave It to Your Heirs”