
How to Pass Crypto to Heirs
Huge amounts of crypto are lost not just from a lack of legacy provision, but when passwords and private keys are mislaid.

Huge amounts of crypto are lost not just from a lack of legacy provision, but when passwords and private keys are mislaid.

For most people, pretty much everything they owned could be held, sorted and doled out by their estate lawyer. Today, that’s far less true.

The rapid rise in circulation and growing popularity of cryptocurrencies is prompting attorneys and estate planners to adjust, as digital assets are inherited through wills, trusts and estates, according to experts who warn of the danger of lost or misappropriated assets.

Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.

Most family members may not have a clue what we have floating out in cyberspace. Accessing or deleting accounts can be tricky for family members, if they don’t have your login credentials.

If you’re merely dipping your toe in cryptocurrency, it can be hard to imagine your crypto as something worth talking to an estate attorney about. But that $100 in fun money could grow to a significant percentage of your total investments, sometimes overnight.

Today, so many aspects of our lives are managed virtually. We keep currency, photos, music, documents, bills, medical records, artwork and even our social lives online or ‘in the cloud.’

Photographs in the cloud, Facebook and Instagram accounts, bank and other financial accounts, and a host of other accounts and data are at our fingertips on electronic devices.