Crypto Inheritance in the UK: Why Your Will Isn't Enough (And What to Do About It)

Crypto Inheritance in the UK: Why Your Will Isn't Enough (And What to Do About It)

If you're a UK-based crypto holder, you're likely sitting on significant assets. And you've probably wondered how to pass them on securely.

It’s a critical question. Billions in digital assets have already been permanently lost—not through hacks, but because owners passed away without a viable recovery plan for their families.

The hard truth is that for digital assets, a traditional will is not just insufficient, it's a high-risk strategy.

Unlike a bank account, your crypto isn't controlled by an institution your executor can simply contact. Without the private keys, your assets are locked forever, no matter what your will says.

This guide outlines the modern, two-part strategy required to legally and technically secure your digital legacy in the UK.

The Gap a Traditional Will Can't Bridge

A standard will fails for crypto because of two fundamental flaws:

1. A Will Grants Legal Rights, Not Technical Access.

   
   

Your will can state, "I leave 10 BTC to my daughter," but it provides no mechanism for her to access those funds. It's like leaving someone a house in your will but not telling them where the key is buried.

2. A Will Becomes a Public Document.

   
   

This is the most critical flaw. Once your will enters probate, it becomes a public record. If you include any sensitive data—private keys, seed phrases, or even a detailed list of wallets—you're effectively publishing a treasure map for thieves.

The only secure solution is a two-layer approach:

Your Will: Handles the legal transfer of ownership.

A Secure, Private Process: Handles the technical recovery of assets.

This is the exact system we designed Evoke Vault to manage.

Your 6-Step Plan for a Secure Digital Legacy

Here is the step-by-step process to ensure your assets are protected.

Step 1: Update Your Will (The Legal Part)

Your will needs one, and only one, simple clause related to crypto. It must acknowledge your digital assets and empower your executor, but it must never contain the assets or keys themselves.

Discuss this sample wording with your solicitor:

“I authorise my Executor to access, manage and distribute all my digital assets, including any cryptocurrencies and non-fungible tokens (NFTs).

I have prepared a separate Digital Asset Memorandum which contains details of these assets and instructions for accessing them. This memorandum is not part of my will and may be updated from time to time. My Executor shall follow the most recent version available at the time of my death.”

This clause gives your executor the legal authority they need while pointing them to your private instructions.

Step 2: Create a Secure Digital Asset Inventory

Your executor needs to know what you own and where it is. This inventory should list:

• Exchanges (e.g., Coinbase, Kraken)

• Hardware Wallets (e.g., Ledger, Trezor)

• Software Wallets (e.g., MetaMask)

  
  

How Evoke Helps: This is where Evoke Vault comes in. We provide a secure, encrypted, and offline-first space to map out your entire digital asset structure. You can log your wallets, hardware devices, and heirs—all without Evoke ever touching your private keys.

Step 3: Create a "Letter of Instruction"

This is your private "playbook" for your executor, the memorandum your will refers to. It bridges the gap between your legal will and your technical assets, explaining:

• Where to find hardware devices (e.g., "in the office safe").

• What to do with them.

• Who to contact for help.

  
  

The problem? A paper letter or a spreadsheet is outdated the moment you move funds.

How Evoke Helps: Evoke is your living Letter of Instruction. When you update your vault, our platform automatically generates a new, solicitor-ready inheritance document. This ensures your executor gets the most recent version of your plan, just as your will instructs.

Step 4: Appoint a "Digital Executor"

Your main executor might be a trusted family member who is great with property and bank accounts, but do they know what a multi-sig wallet is?

You can appoint a "Digital Executor" in your will—a separate, tech-savvy person to assist your main executor.

How Evoke Helps: Inside Evoke Vault, you can securely nominate your heirs or executors and assign them granular permissions. For example, you can grant them "review-only" access now to understand the plan, or "recovery" access that can only be activated when legally authorised by your main executor.

Step 5: Secure Your Keys with an Inheritance in Mind

Your seed phrases are the master key. Never store them online or in plain text.

The standard advice is to etch seed phrases onto metal. A far more robust solution is a multi-signature (multi-sig) wallet. A 2-of-3 multi-sig is the gold standard for inheritance: you hold two keys, and a trusted, independent third party holds the third.

How Evoke Helps: Evoke is built for exactly this scenario. We can integrate into your multi-sig setup to act as that trusted third party, holding one non-controlling recovery key. We can't move your funds, but we can co-sign a recovery transaction for your verified executor when the time comes. This removes the single point of failure.

Step 6: Plan for UK Taxes

Finally, your executor will need to deal with HMRC.

• Inheritance Tax (IHT): Crypto is property. Its value at the date of death is added to your estate.

• Capital Gains Tax (CGT): Beneficiaries inherit crypto at its value on the date of death. They only pay CGT when they later sell it.

  
  

How Evoke Helps: Evoke's timestamped reports and clear inventory provide your executor with a clean, auditable record. This makes the valuation process for probate and HMRC far more straightforward.

A Will is Static. Your Portfolio Isn't.

Simply adding "my crypto" to your will creates a false sense of security. You need a living, secure, and recoverable plan that connects your legal wishes to your technical assets.

By using Evoke Vault, you're not just writing a list. You're building a complete system to ensure your family is protected and your legacy is secure.

Get started today: See Pricing

✅ Securely map your wallets, hardware devices, and heirs with Evoke Vault.
✅ Generate up-to-date, solicitor-ready inheritance documents instantly.
✅ Build a resilient, multi-sig recovery plan.

Secure your digital legacy for the next generation.