Q&A: How do I include cryptocurrency in my estate plan?

QUESTION

Q: How do I include cryptocurrency in my estate plan?

— Crypto Owner

ANSWER

A: Dear  Crypto,

If you own cryptocurrency, you must leave detailed instructions for accessing it, and ensure that one or more trustworthy people know about your crypto and how to find these instructions. Since accessing crypto can be a complex process, consider including terms in your estate plan allowing your fiduciary to hire an IT consultant or designate a separate co-fiduciary, known as a digital executor, to help him or her manage your digital assets.

Like other assets, crypto is typically passed through a Will or Trust, and we can advise you on the planning vehicle best suited for your situation. From there, specify in your Will or Trust the person(s) you want to inherit your digital currency, and include instructions on how you’d like it managed after your death.

However, NEVER provide the account info, login data, or passkeys for your crypto in your estate plan, especially your Will, which becomes public upon your death.  

As a Personal Family Lawyer®, we can help ensure all of your assets—digital or otherwise—are protected, preserved, and passed seamlessly to your family following your death or incapacity.