Crypto Will Writing Guide

Why a Standard Will Is Not Enough

A standard will typically covers property, bank accounts, investments, and personal possessions. It names beneficiaries, appoints executors, and provides instructions for distributing the estate. For most people, this is sufficient.

Cryptocurrency breaks this model. A will can state that Bitcoin should pass to a named beneficiary, but the statement is meaningless without the practical means to access it. Unlike a bank account — where the executor presents the grant of probate and the bank releases the funds — Bitcoin requires private keys that the will cannot safely contain.

Writing a will that effectively covers cryptocurrency requires understanding what should go in the will, what should stay out, and how to bridge the gap with supporting documents.

What to Include in the Will

An Explicit Reference to Cryptocurrency

Your will should explicitly state that you hold cryptocurrency and that it forms part of your estate. While a general residuary clause (“I leave the remainder of my estate to…”) technically covers crypto, an explicit reference ensures that executors and beneficiaries do not overlook these assets.

Example wording:

“I hold cryptocurrency assets including but not limited to Bitcoin and other digital currencies. These are held in self-custody wallets and/or on cryptocurrency exchanges. Full details of my holdings and instructions for accessing them are set out in my letter of wishes dated [date], which is stored with [solicitor name / location].”

This does three things: it confirms the assets exist, it tells the executor where to find instructions, and it avoids putting sensitive technical information in the will itself.

Named Beneficiaries for Crypto

Be specific about who should receive your cryptocurrency. You can:

Leave all crypto to a single person
Split it among multiple beneficiaries (by percentage or by specific amounts)
Include crypto in the residuary estate (everything left after specific gifts)

If you hold multiple types of cryptocurrency, you can specify different beneficiaries for each. For example: “I leave my Bitcoin to [Name A] and my Ethereum to [Name B].”

A Named Executor with Crypto Awareness

Consider naming an executor who understands cryptocurrency, or at minimum, is willing to follow detailed written instructions. If your main executor is a solicitor with no crypto experience, consider naming a co-executor — a trusted person with technical knowledge — to handle the crypto-specific aspects of the estate.

Your will should explicitly grant the executor the authority to deal with digital assets, including the power to:

Access digital wallets and exchange accounts
Transfer cryptocurrency between wallets
Convert cryptocurrency to fiat currency
Engage specialist advisers for digital asset recovery

What NOT to Put in the Will

Private Keys and Seed Phrases

This is the most critical rule. Never include your private key or seed phrase in your will.

Wills become public documents after probate is granted in England and Wales. Once probate is issued, anyone can apply to the Probate Registry for a copy of the will. If your seed phrase is in the will, anyone who reads it can access and steal your Bitcoin — potentially before your executor has even begun the administration process.

Exchange Passwords and 2FA Codes

For the same reason, do not include login credentials, passwords, PINs, or two-factor authentication backup codes in the will. These belong in your letter of wishes, which does not become a public document.

Specific Bitcoin Amounts

Avoid specifying exact quantities of Bitcoin in the will (e.g., “I leave 0.5 BTC to [Name]”). Your holdings will change over time as you buy, sell, or spend crypto. If the will specifies an amount you no longer hold, it creates confusion and potential disputes.

Instead, use percentages or descriptive language: “I leave my cryptocurrency holdings equally between [Name A] and [Name B]” or “I leave all my cryptocurrency to [Name].”

The Letter of Wishes

A letter of wishes is the essential companion document to your will. It is a non-binding letter addressed to your executor that provides practical guidance on administering the estate. Unlike the will, it does not become public after probate.

Your letter of wishes should include:

Digital Asset Inventory

A complete list of your cryptocurrency holdings:

Types of crypto held (Bitcoin, Ethereum, etc.)
Approximate amounts
Where each asset is held (exchange name, hardware wallet model, software wallet)
Account email addresses and usernames for exchange accounts

Access Instructions

Step-by-step instructions for accessing each wallet or account:

For hardware wallets: where the device is stored, the PIN, how to connect it, which wallet software to use
For exchange accounts: login credentials, 2FA method, backup codes
For self-custody wallets: reference to where the seed phrase is stored (but not the seed phrase itself — that should be stored separately and referenced by location only)

Seed Phrase Location

Tell the executor where the seed phrase backup is stored. For example: “My Bitcoin seed phrase is stored on a metal backup plate in the fireproof safe in my study. The safe code is [code].” Or: “My seed phrase has been split using Shamir’s Secret Sharing into 5 shares. Shares are held by [list of holders]. Any 3 shares are needed to reconstruct the phrase.”

Do not write the actual seed phrase in the letter of wishes. Reference its location only.

Guidance on Distribution

Provide practical guidance:

Should the crypto be sold and distributed as cash, or transferred to the beneficiary’s wallet?
Are there any tax considerations the executor should be aware of?
Is there a trusted adviser or friend who can help with the technical aspects?
Are there any specific instructions about timing (e.g., “hold Bitcoin for at least 6 months” or “sell immediately and distribute cash”)?

When to Update Your Will

Your will and letter of wishes should be reviewed and updated:

When you acquire new types of cryptocurrency — new coins may need different access instructions
When you change wallets or exchanges — old instructions will be wrong
When you change security setups — moving from a software wallet to hardware, or from single-sig to multi-sig
After major life events — marriage, divorce, birth of children, death of a named beneficiary or executor
At least annually — even if nothing has changed, confirm everything is still accurate and set a date for the next review

An outdated will or letter of wishes can be worse than no plan at all, because it may lead the executor on a fruitless search for wallets or keys that no longer exist.

Working with a Solicitor

A solicitor experienced in cryptocurrency estate planning can:

Draft will clauses that properly reference digital assets
Prepare a letter of wishes template tailored to your holdings
Hold a sealed envelope containing part of your recovery information
Advise on tax-efficient structures for passing on crypto
Guide your executor through the probate process

If your solicitor is not familiar with cryptocurrency, share this guide with them as a starting point — or consider finding a specialist.

Checklist

Before considering your will complete, verify:

Will explicitly references cryptocurrency holdings
Will names appropriate executor(s) with digital asset authority
Will does NOT contain seed phrases, private keys, or passwords
Letter of wishes created with full access instructions
Seed phrase stored securely and referenced by location in letter of wishes
Letter of wishes stored with solicitor or in accessible secure location
Beneficiaries have been briefed (at minimum, they know crypto exists)
Review date set for next update

Disclaimer

This guide provides general information about writing wills that cover cryptocurrency in the UK. It is not legal advice. Consult a qualified solicitor for guidance specific to your situation.

Bitcoin Inheritance Planning (UK) — The full estate planning framework your will fits into.
Seed Phrase Inheritance — Why your seed phrase must never go in the will, and where it should go instead.
Finding a Crypto-Literate Solicitor — How to find a solicitor who can draft a proper crypto will.
Bitcoin Probate in the UK — What happens to your will during the probate process.
Matthew Mellon: $1B in XRP, No Clear Plan — Even wealthy holders with complex setups need a proper will.