What happens to my cryptocurrency if I die without a digital inheritance plan?

If you die without a digital inheritance plan, your cryptocurrency assets will likely become permanently inaccessible. Without your private keys, seed phrases, or login credentials for exchanges, your heirs will have no way to access or transfer the funds, regardless of what your traditional will states. These assets are then effectively lost.

Can I put my crypto and NFTs directly in my will?

You can include language in your will that references your crypto and NFTs as assets to be distributed. However, simply listing them in your will is not enough. A will cannot provide the necessary access (private keys, seed phrases, passwords). You must create a separate, secure digital inheritance plan with explicit instructions and access details for your executor to follow.

How can I securely share my passwords with my digital executor?

The most secure way to share passwords is by using a reputable password manager (e.g., LastPass, 1Password, Dashlane) that offers an "emergency access" or "legacy contact" feature. This allows your designated executor to request access to your password vault after a specified waiting period and verification, without you ever having to directly share your master password.

What is a digital executor and do I need one?

A digital executor is a trusted individual you appoint to manage your digital assets after your death or incapacitation. Yes, you absolutely need one. This person will follow your instructions to access, transfer, close, or memorialize your online accounts, crypto, and NFTs, ensuring your digital legacy is handled according to your wishes.

What is the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA)?

RUFADAA is a uniform law adopted by many U.S. states that grants fiduciaries (like executors, guardians, or agents under a power of attorney) the legal authority to access, manage, and control a deceased person's digital assets. It aims to provide a legal framework for digital inheritance, often overriding conflicting terms of service agreements, and giving heirs a clearer path to managing digital property.

Should I store my crypto seed phrase in a bank safe deposit box?

Storing a written copy of your crypto seed phrase in a bank safe deposit box is a common and relatively secure method. It protects against theft and physical damage (like fire or flood). However, ensure your digital executor or a trusted heir has legal access to the safe deposit box after your death, as bank access can sometimes be delayed or require court orders.

How often should I update my digital inheritance plan?

You should review and update your digital inheritance plan at least once a year, or whenever there are significant changes in your digital assets (e.g., acquiring new crypto, closing accounts), changes in your personal life (marriage, divorce, new beneficiaries), or updates to your chosen executor. The digital landscape evolves rapidly, so regular maintenance is crucial.

Digital Inheritance: Secure Crypto & Online Assets | One…