Crypto Wills & Trusts
If you trade in cryptocurrencies and want them to form part of your will, you need to consider how your current inheritance planning can include this digital form of cash. Without the right protection in place for beneficiaries, the money could remain inaccessible and wrapped up in legal complications for years to come.
Saracens Solicitors are experts in will writing and are ideally placed to help you put in place a strong will that incorporates cryptocurrency. From crypto wills to crypto trusts, we ensure your future plans can move forward without complication.
Important features of a crypto will or trust
Anyone that wants to include cryptocurrency in their will or trust must ensure the executor has information such as:
- Information about the digital wallets and the amount they contain
- A memorandum to the will that contains security and access information such as PINs and passwords
- Step-by-step instructions on how the executor can access the funds
To ensure privacy and security, passwords and cryptocurrency key information should never be left directly in a will, rather, instructions on how to retrieve it should be included instead. This is something our wills and trust solicitors can help you to arrange, so everything is finalised and in order.
Protecting your cryptocurrency
There are a variety of ways you can securely store your cryptocurrency and private key that provides access. This includes:
- Hot wallets that are stored online
- Cold wallets such as a USB stick, device or notepad that contains the private key information
- Hosted wallets from third-party providers that ensure the key is kept private
- Banks are also starting to develop storage services for private keys
Whether you want to leave cryptocurrency in a will or trust, Saracens’ solicitors will ensure everything is legally secure, so you can have peace of mind beneficiaries will receive the funds as intended.
Partner & head of the crypto team