As digital wealth becomes more common, estate planning is no longer limited to property, savings, and physical assets. With specialist expertise in will writing and probate, Ives & Co Solicitors supports clients in navigating modern challenges — including how to properly account for digital assets such as cryptocurrency within their estate.
Quick Answer: Do You Need to Include Cryptocurrency in Your Will?
Yes — cryptocurrency and digital assets should be included in your will. Without clear instructions and secure access details, these assets can become inaccessible, potentially leading to permanent loss for beneficiaries.
Table of Contents
What Are Digital Assets?
Why Cryptocurrency Creates Estate Planning Challenges
Risks of Not Including Digital Assets in Your Will
How to Include Cryptocurrency in Your Estate Plan
Practical Steps to Take Now
Frequently Asked Questions
What Are Digital Assets?
Digital assets refer to anything you own in a digital format that holds financial or personal value. This includes:
✔ Cryptocurrency (e.g. Bitcoin, Ethereum)
✔ Online investment accounts
✔ Digital wallets and trading platforms
✔ Online business accounts
✔ Cloud-stored files with value
As more individuals invest in digital currencies, these assets are becoming a significant part of modern estates.
Why Cryptocurrency Creates Estate Planning Challenges
Unlike traditional assets, cryptocurrency is decentralised and secured by private keys. This creates unique legal and practical issues.
✔ No Central Authority: There is no bank or institution that can recover access if details are lost.
✔ Access Is Everything: Without private keys or recovery phrases, assets cannot be accessed — even by executors.
✔ Security vs Accessibility: Balancing security during your lifetime with access after death is one of the biggest challenges.
Risks of Not Including Digital Assets in Your Will
Failing to properly account for cryptocurrency can result in serious consequences:
✔ Assets becoming permanently inaccessible
✔ Delays in estate administration
✔ Disputes between beneficiaries
✔ Loss of significant financial value
In some cases, cryptocurrency has been lost entirely because no one else knew how to access it.
How to Include Cryptocurrency in Your Estate Plan
Planning for digital assets requires a slightly different approach to traditional estate planning.
1️⃣ Clearly Reference Digital Assets in Your Will
Your will should confirm that digital assets form part of your estate, even if detailed access instructions are stored separately.
2️⃣ Store Access Information Securely
Private keys, passwords, and recovery phrases should never be written directly into a will (as wills become public during probate).
Instead:
✔ Use a secure password manager
✔ Store details in a protected document
✔ Inform a trusted person or executor how to access this information
3️⃣ Appoint a Knowledgeable Executor
Choose an executor who:
✔ Understands digital assets
✔ Is comfortable handling cryptocurrency
✔ Can follow secure access instructions
4️⃣ Keep Records Updated
Digital assets can change quickly in value and location.
✔ Regularly update your records
✔ Ensure your estate plan reflects current holdings
Practical Steps to Take Now
To protect your digital estate, consider the following:
✔ Make a list of all digital assets
✔ Record where they are held (wallets, exchanges)
✔ Store access details securely (not in your will)
✔ Inform your executor how to retrieve this information
✔ Review your will regularly
Frequently Asked Questions
Do I need to include cryptocurrency in my will?
Yes. Cryptocurrency is considered part of your estate and should be included to ensure it can be passed on correctly.
Can my family access my crypto after I die?
Only if they have the correct access details (private keys or recovery phrases). Without this, the assets may be lost permanently.
Is cryptocurrency treated like other assets in probate?
Legally, yes — but practically it is more complex due to access and security requirements.
Should I put my passwords in my will?
No. Wills become public documents. Access details should be stored securely elsewhere.
Conclusion
As cryptocurrency and digital assets continue to grow in popularity, estate planning must evolve to keep pace. Ensuring these assets are properly documented, securely stored, and accessible to the right people is essential to protect their value and avoid unnecessary complications during probate.
