Some issues to consider in connection with digital assets and estate planning are:
PRIVATE KEYS
The only way for a personal representative to access cryptocurrency after your death (or the agent named in your durable power of attorney in the event of your incapacity) is if they have the private key. Without the private key, your named fiduciaries will not be able to access your account—or transfer your cryptocurrency to the intended beneficiaries after your death.
To ensure that your fiduciaries have access to the private key/seed phrase for your NFTs after your death or incapacity, consider giving a copy of it or information regarding its location in a sealed envelope to your estate planning attorney.
TRUSTS
If you own cryptocurrency or NFTs and want your trustees to retain these assets after your death, consider amending your trust to specifically authorize your trustees to retain these assets.
EMAIL, SOCIAL MEDIA, AND FINANCIAL APPLICATIONS
Your fiduciaries (or others) will only have access to your email, social media accounts, and financial applications in the event of your incapacity or death if you have granted them access—either in your estate planning documents or by the terms of the accounts. If you want to be certain that your fiduciaries will have this access, check the terms of the accounts as well as your estate planning documents.
If you do not want your fiduciaries to have access to some or all of these accounts, you should also check to ensure that you have not granted them access (either in the accounts or by the terms of your estate planning documents).
This is an excerpt from the full article. See the full article HERE.
