How to Include Crypto and Digital Assets in an Estate Plan

To include crypto and other digital assets in an estate plan, list what you own and where it's held, name who gets it, give your executor, trustee or agent written authority to access it (in your will, trust, power of attorney or a platform's online tool), and set up a secure way for them to reach the keys or login. Those last two steps are different problems. A will can give someone the legal right to your accounts, but if no one can find the private key or recovery phrase for a wallet you control yourself, the law can't recreate it. In Florida, the rules for fiduciary access are in Chapter 740 of the Florida Statutes.

At a glance

What counts as a digital asset?

Florida's law defines a digital asset broadly as "an electronic record in which a user has a right or interest." That can include online accounts, email, cloud files and crypto held on an exchange. It doesn't include the underlying asset or liability unless that asset is itself an electronic record.

For federal tax, the IRS defines a digital asset as any digital representation of value recorded on a cryptographically secured distributed ledger (blockchain) or similar technology. The IRS lists cryptocurrencies such as Bitcoin, stablecoins and non-fungible tokens (NFTs) as examples.

Step 1: Make an inventory

List each asset and where it lives, not the secrets themselves:

• Exchange and brokerage accounts (the platform holds the asset for you)
• Self-custody wallets (software or hardware wallets where you hold the keys)
• NFTs, domain names and other on-chain assets
• Email, cloud storage, photo libraries and password managers that a fiduciary will need to get into everything else

Note where the recovery information is stored and who knows how to reach it. Update the list when you open or close accounts.

Step 2: Give your fiduciary legal authority

Florida's law sets an order of priority (Fla. Stat. §740.003):

1. A platform's online tool comes first. If a custodian offers a tool to name someone who can access your account, and that tool can be changed at any time, your direction there overrides a contrary instruction in your will, trust or power of attorney.
2. Your will, trust, power of attorney or other record comes next if you didn't use an online tool (or the platform doesn't offer one). You can allow or prohibit disclosure of some or all of your digital assets, including the content of your electronic communications.
3. The platform's terms of service govern if you left no direction.

Two rules matter in practice:

• Content of messages needs your consent. A custodian must disclose the content of your emails or messages to your personal representative only if you consented to disclosure, or a court orders it (§740.006). A catalog of your communications and your other digital assets are generally available unless you prohibited it (§740.007).
• The custodian gets 60 days. A custodian must comply within 60 days after receiving a proper request; if it doesn't, the fiduciary can ask the court for an order (§740.06). A request from a personal representative usually includes a copy of the death certificate, letters of administration (or other court order) and, for message content, a copy of the document showing your consent.

If you live outside Florida, check your own state's law. Other states have their own rules on fiduciary access, and the details can differ.

Step 3: Plan for practical access

Exchange accounts. With a custodial account, your fiduciary works through the platform's process using the authority from Step 2. A custodian may give full access, partial access or a copy of the records, and it may charge a reasonable administrative fee (§740.005).

Self-custody wallets. No custodian can hand over what it doesn't hold. Florida's law lets a fiduciary with authority over your tangible personal property access digital assets stored on your devices (§740.05), but that doesn't help if the device is locked and no one has the recovery phrase. Work with your lawyer on a secure method, such as instructions kept separately from the will, so the right person can reach the keys at the right time without exposing them now.

Don't put keys or recovery phrases in the will itself. A will is generally filed with the probate court after death, and anyone who sees a recovery phrase can move the coins.

Step 4: Decide where the assets go

A will can leave digital assets like any other property. Some people prefer a revocable trust so a successor trustee can manage the assets without waiting on probate; what belongs in a trust depends on your plan and how each platform lets you title an account. Name a fiduciary who's comfortable with the technology, or give them authority to hire help. Under Florida's law, a fiduciary owes the same duties of care, loyalty and confidentiality for digital assets as for other property, and can't impersonate you to get access (§740.05).

Step 5: Understand how heirs are taxed

• Crypto is property. The IRS says general tax rules for property apply to digital asset transactions (Notice 2014-21).
• Inherited crypto generally takes a basis equal to its fair market value at the date of death (26 U.S.C. §1014), which can matter when heirs later sell.
• Crypto given during life works differently. The recipient has no income until selling or disposing of it, but generally takes over the donor's basis for figuring gain. The IRS says that if there's no documentation of the donor's basis, the basis is zero (IRS FAQ A31–A32). Keep purchase records with your inventory.

Ask your lawyer and tax adviser how estate and gift tax apply to your situation.

Mistakes to avoid

• Writing keys or recovery phrases into a will or emailing them to family
• Relying on a will when you also set a conflicting online tool on the platform
• Forgetting the email and phone accounts that two-factor codes go to
• Leaving no purchase records, so heirs or donees can't prove basis
• Naming a fiduciary who can't, or won't, handle the technology

Questions to ask your lawyer

• Does my will, trust and power of attorney give clear authority over digital assets and message content?
• Have I set online tools on my accounts, and do they match my documents?
• Should any of these assets go into a trust?
• How should we store access instructions securely?
• What records do my heirs need for tax?

Featured attorneys: Haute Lawyer members include Michael Kosnitzky, co-leader of Pillsbury Winthrop Shaw Pittman's Private Wealth practice, whose work integrates tax planning, estate planning, asset protection and family governance, and James Voeller of Voeller Law Firm in San Antonio, a Certified Estate Planning Law Specialist who handles wills, living trusts, powers of attorney and probate. Browse more in Estate Planning & Probate attorneys. *Listed attorneys are paid members of the Haute Lawyer Network. Editorial selection, not a ranking.*

Related questions

• What Is a Revocable Trust?
• What Assets Should Be in a Trust?
• How Do I Choose an Executor?
• What Is Gift Tax?
• Can ChatGPT Write Your Estate Plan?

FAQ

Can I leave cryptocurrency in my will?
Yes. A will can leave crypto like other property. The harder part is making sure your executor has both the legal authority and a secure way to reach the keys or account.

Should I put my seed phrase in my will?
No. A will is generally filed with the probate court after death, and anyone who sees the phrase can move the assets. Keep access instructions separate and secure, and ask your lawyer how.

Does an exchange's online tool override my will?
In Florida, yes, for that account. If you named someone in a custodian's online tool that can be changed at any time, that direction overrides a contrary instruction in your will, trust or power of attorney.

Can my executor read my email after I die?
Under Florida law, only if you consented to disclosure of the content, in an online tool or your estate documents, or a court orders it. Other account records are generally available unless you prohibited it.

How long does a custodian have to respond to my executor in Florida?
60 days after receiving a proper request. If it doesn't comply, the fiduciary can ask the court for an order.

Do my heirs pay tax when they inherit crypto?
Inheriting generally isn't a sale. Inherited property usually takes a basis equal to its fair market value at the date of death, which affects the gain when heirs later sell. Ask a tax adviser about estate tax.

What happens to crypto if no one has the keys?
For a self-custody wallet, no court or company can recreate the keys. That's why practical access planning matters as much as the documents.

Sources

• Florida Statutes ch. 740, Florida Fiduciary Access to Digital Assets Act, §§740.001–740.09 (flsenate.gov, 2025 Florida Statutes), fetched Oct. 30, 2026
• Florida Senate, bill analysis for CS/SB 494 (2016), fetched Oct. 30, 2026
• Uniform Law Commission, Fiduciary Access to Digital Assets Act, Revised (2015) (uniformlaws.org), fetched Oct. 30, 2026
• Internal Revenue Service, Notice 2014-21 (irs.gov), fetched Oct. 30, 2026
• Internal Revenue Service, "Digital assets" (irs.gov), fetched Oct. 30, 2026
• Internal Revenue Service, "Frequently asked questions on virtual currency transactions," A31–A32 (irs.gov), fetched Oct. 30, 2026
• 26 U.S.C. §1014 (basis of property acquired from a decedent), Cornell LII, fetched Oct. 30, 2026

*This information is general and isn't legal or tax advice. It doesn't create an attorney-client relationship. Talk to a lawyer about your situation.*