Written by Marcia Howards, Senior Associate Solicitor · SRA-regulated · Last reviewed 7 March 2026
Short answer: Yes – many digital assets (including crypto‑tokens and NFTs) can be held in a UK trust, provided you plan access, custody, and tax properly. English law increasingly recognises certain digital assets as property, and HMRC treats cryptoassets as property for Inheritance Tax (IHT).
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What counts as a “digital asset”?
- Financial/valuable: cryptocurrencies (BTC, ETH), stablecoins, NFTs, tokenized assets, exchange accounts.
- Access/control: passwords, 2FA codes, recovery keys, seed phrases, password‑manager vaults.
- Owned/registered: domain names, websites, cloud storage, app licenses.
- Personal/content: photos, videos, emails, social media accounts.
The Law Commission has recommended confirming in statute a distinct category of personal property suitable for certain digital assets (often referred to as “data objects”), complementing “things in possession” and “things in action.” The Government published a supplemental report and draft Bill in July 2024 to implement this recommendation.
Can you put digital assets in a UK trust?
- Cryptoassets & NFTs: Typically yes. They can be trust property if you define control procedures (custody of keys, multi‑sig, hardware wallets) and appoint tech‑competent trustees. The Law Commission’s work supports recognition of such assets as capable of attracting personal property rights.
- Platform accounts: Feasible case‑by‑case. Some services restrict transfer; others offer legacy access features:
- Apple Digital Legacy lets you appoint Legacy Contacts who can access iCloud data with an access key and death certificate (not purchases nor Keychain).
- Facebook Legacy Contact can manage a memorialised profile (pinned posts, photos), but cannot read messages or log in.
UK tax: what should trustees know?
- Inheritance Tax (IHT): HMRC confirms cryptoassets are “property” for IHT, so they form part of the value of the estate or trust. Situs and residency rules matter for non‑doms and offshore custody.
- Reporting trend: From 1 January 2026, the OECD Cryptoasset Reporting Framework (CARF) started requiring UK‑reporting crypto providers to collect/report user data to HMRC, tightening compliance. Trustees should keep robust records.
Tip: Keep a dated valuation schedule (e.g., price at transfer/death), wallet locations, seed phrase custody logs, and trustee access steps in a sealed annex to the trust deed.
The 7‑step plan to set up a Digital Asset Trust
- Inventory everything: coins/tokens, wallets (hot/cold), exchanges, NFTs, domains, cloud drives, password vault(s), 2FA methods.
- Choose trustees with tech fluency (or appoint a professional co‑trustee); write clear control protocols (who can access, how, and when). The Law Commission’s framework highlights “control” (factual/legal) as central to digital assets.
- Custody & security: hardware wallets, multi‑sig, offline backups; store seed phrases separately (fireproof safe).
- Draft trust terms to cover access, rotation of keys, recovery, prohibited actions, and incident response.
- Integrate platform legacy tools: add Apple Legacy Contacts; configure Facebook memorialisation preferences.
- Tax & valuation: document basis, gains, IHT impact; keep audit‑ready records given CARF.
- Link your will & powers: include a digital‑asset memorandum; appoint a “digital executor”; consider a Lasting Power of Attorney (Property & Financial Affairs) for incapacity.
How Saracens Solicitors helps
- Digital estate audit & risk scoring (custody, platform policies, tax exposure).
- Tailored trust or will packages (letter of wishes + secure key‑management annex).
- Implementation support for Apple/Facebook legacy features and exchange compliance.
- Ongoing trustee support (key rotation, beneficiary access, reporting).
Call our team on +44 (0)20 3588 3500, or press the Enquire button at the top of this page and we will call you back.
Frequently Asked Questions / Questions & Answers
Can trustees hold private keys?
Yes. Keys are the means of control; your trust terms should specify custody, co‑signing rules, and recovery. The Law Commission emphasises “control” concepts for digital assets.
Are my iCloud photos transferable like purchases?
Legacy Contacts can access iCloud data (photos, messages, notes, backups) after verification, but licensed media and Keychain data are excluded.
Can my family manage my Facebook after death?
If you set a Legacy Contact, they can manage a memorialised profile (tribute posts, picture updates), but can’t read messages or log in.
Do cryptoassets attract IHT?
Yes—HMRC treats cryptoassets as property for IHT. Planning can mitigate risk; keep valuation and situs evidence.
