How to include Cryptocurrency in Your Will: Protecting your digital assets.
As digital assets like cryptocurrency become more mainstream, it’s increasingly important to account for them in your estate planning. Whether you own Bitcoin, Ethereum, or another form of digital currency, your estate plan needs to address how those assets will be managed and transferred after your death.
At Dorcey Law Firm, PLC, we help clients in Fort Myers and throughout Southwest Florida navigate the unique challenges of incorporating crypto assets into their estate plans.
Why Digital Assets Require Special Planning
Unlike traditional financial accounts, cryptocurrency is decentralized and typically stored in digital wallets secured by private keys or seed phrases. These assets don’t have paper statements or a financial institution that a personal representative can easily contact. Without proper documentation and access, your heirs could lose valuable digital wealth—possibly permanently.
Key Considerations for Your Crypto Estate Plan
If you own cryptocurrency, here are some important things to consider when updating or creating your estate plan:
1. Inventory Your Holdings
Make a list of all your crypto assets, including:
- Types of coins or tokens you own
- Where they’re stored (exchange accounts, hot/cold wallets, etc.)
- Any associated platforms or login credentials
2. Secure Your Access Information
Your private keys, passwords, and recovery phrases are essential for accessing your crypto. If they’re lost, your cryptocurrency could become completely inaccessible. Use a secure method to store this information—whether through a password manager, encrypted document, or physical storage—and ensure someone you trust knows how to find it.
3. Name a Tech-Savvy Executor or Trustee
Handling cryptocurrency requires some technical knowledge. It’s a good idea to choose a personal representative or trustee who understands digital assets, or to work with a professional who does.
4. Update Your Legal Documents
Make sure your will, trust, and/or powers of attorney clearly mention your digital assets. A trust can be a great tool for passing on crypto, especially if you want to maintain privacy or avoid probate in Florida.
Protecting Your Legacy in Fort Myers and Beyond
Digital assets are becoming a regular part of modern estates, and failing to plan for them can leave your loved ones with a legal and financial mess. At Dorcey Law Firm, PLC, we can help ensure your cryptocurrency is protected, accounted for, and smoothly transferred to your beneficiaries when the time comes.
Whether you're updating an existing plan or starting from scratch, we’ll guide you through every step with personalized legal strategies tailored to your unique assets—including the digital ones.
Schedule a Consultation
If you own cryptocurrency and live in Fort Myers or the surrounding areas, now is the time to update your estate plan. Contact Dorcey Law Firm, PLC today to schedule a consultation and ensure your digital assets are part of your legacy.
Contact Dorcey Law Firm, PLC today to get started.