Crypto changes the estate planning conversation.

Not long ago, many families treated bitcoin, ethereum, and other digital assets as fringe holdings. That is no longer true. Crypto is now common enough that estate plans increasingly need to account for it, especially where there are meaningful holdings, multiple wallets, or private-key issues. Surveys vary, but recent estimates place U.S. crypto ownership somewhere around 30% of adults, with tens of millions of Americans holding some form of cryptocurrency.

As a Naperville estate planning attorney, I see the practical problem this creates: an estate plan can look perfectly fine on paper and still fail badly if no one knows how to locate, access, and manage the digital assets.

Crypto is different because access is everything

With most traditional assets, the biggest issue is legal authority. With crypto, legal authority is only part of the problem. Access is often the real issue.

That is because control of crypto usually depends on private keys, exchange credentials, wallet access, or recovery information. Assets may be held through a centralized custodian or exchange, a hardware wallet, a software wallet, or some combination of these. If the right people do not know what exists or how to reach it, the asset can effectively disappear. CoinDesk reported in January that inherited crypto is often lost because of missing keys, probate delays, or fiduciaries who do not understand the asset class.

Illinois law does help, but it does not solve everything

Illinois has adopted the Revised Uniform Fiduciary Access to Digital Assets Act, which gives fiduciaries a legal framework for obtaining access to digital assets in appropriate circumstances. Illinois enacted its version in 2016, and the statute expressly covers fiduciary access to digital assets. The Illinois State Bar Association explained that fiduciaries can request access, but typically must provide supporting documentation such as a death certificate, letters of office or court order, and the will, trust, or power of attorney granting authority.

That is helpful, but it is not magic. RUFADAA can give a fiduciary legal authority to request access from a provider. It does not recreate missing private keys. It does not fix poor recordkeeping. It does not teach an executor how to handle a cold wallet.

Why crypto gets lost in estates

Crypto is easier to lose than many people realize.

If no one knows which exchange was used, whether assets were moved off-platform, where a hardware wallet is stored, or how recovery phrases were organized, a fiduciary may have authority but still have no practical way to act. CoinDesk’s January report emphasized that this is one reason large amounts of crypto wealth disappear after death.

That risk gets worse when people rely only on email trails, cloud storage, or informal notes scattered across devices. A traditional brokerage account is hard to ignore. A seed phrase hidden in the wrong place is very easy to lose forever.

Probate delay and volatility are a bad combination

Crypto also creates timing problems.

If someone dies without a will or trust-based structure, probate delays can leave no one clearly in charge for a period of time. With more traditional assets, delay is often just frustrating. With crypto, delay can be more dangerous because the asset may be highly volatile, and there may also be time-sensitive security issues around access and custody. CoinDesk specifically pointed to probate delay as one of the reasons inherited crypto can go missing or lose value.

That does not mean every crypto holder needs an elaborate structure. It does mean crypto owners should think more seriously about who can act quickly and how.

Trust planning is often worth discussing

For some crypto owners, trust planning is part of the solution.

A revocable trust can help avoid waiting for a probate appointment before someone has legal authority to manage trust-owned assets. That can be useful where digital assets are significant, where the owner wants a smoother transition at incapacity or death, or where there is concern about delay and confusion. CoinDesk also noted that some planning strategies involve trusts or LLC structures to improve continuity and control.

The right structure depends on how the crypto is actually held. There is no one-size-fits-all answer. What matters is that the legal plan and the custody reality match.

Never put sensitive wallet information in the will

This point is critical.

A will controls probate matters, but it is the wrong place for sensitive wallet details, seed phrases, or private-key information. Once a will is filed in probate, it typically becomes part of the court record. Even if a jurisdiction limits practical access, the basic rule is still the same: the will is not a secure place for secret access information. That is why crypto-specific access details should be handled through separate instructions and secure storage, not spelled out in the will itself. CoinDesk’s article made the same warning directly.

What crypto owners should do now

For most people, the right next step is not exotic planning. It is organized planning.

That usually means:

• identifying what digital assets exist
• confirming how they are stored
• deciding who should be able to act at incapacity or death
• making sure the will, trust, and powers of attorney actually authorize digital-asset access
• creating secure but usable instructions so the right person can find what they need without exposing private keys unnecessarily

As a digital asset estate planning attorney would tell you, the legal document and the practical access plan both matter. As a Naperville estate planning attorney, I would add that this is exactly the kind of issue that should be coordinated before there is a crisis, not after.

Final thoughts

Crypto can absolutely be incorporated into a good estate plan. The law is better than it used to be, and Illinois does provide a framework for fiduciary access to digital assets. But legal authority alone is not enough. Crypto estate planning only works when the documents, the storage method, and the access instructions all fit together.

FAQ

Can my executor access my crypto after I die?

Potentially yes, but only if the legal documents and the custody setup allow it. Illinois law gives fiduciaries a framework to request access, but that does not solve missing keys or poor recordkeeping.

Should I put my private keys in my will?

No. Sensitive wallet information should not be placed in a will. A will is not the right place for secret access credentials, especially once probate begins.

Do I need a trust if I own crypto?

Not always, but a trust may help in some cases by improving continuity and reducing delay, especially where holdings are significant or access is complicated.

What is the biggest mistake crypto owners make in estate planning?

Usually it is assuming that someone will “figure it out” later. With crypto, missing access information can mean the asset is gone for good.