{
  "id": 15175556,
  "title": "Don’t Let a Crypto Inheritance Get Stuck on the Blockchain",
  "url": "https://urgent.news/2026/10/17/dont-let-a-crypto-inheritance-get-stuck-on-the-blockchain",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-17T10:30:00.000Z",
  "source": {
    "name": "Wired",
    "slug": "wired",
    "url": "https://www.wired.com/story/crypto-inheritance-how-to/"
  },
  "original_language": "en",
  "account": "In the United States, cryptocurrency is classified as a digital asset rather than a form of money in the context of probate and estate law. Unlike traditional assets, digital assets like cryptocurrency do not allow for easy designation of beneficiaries. This creates challenges for managing digital assets after a person's death or incapacitation. There are two main types of wallets: custodial and noncustodial.\n\nCustodial wallets are managed by a third party, such as a bank or a cryptocurrency marketplace. Transferring assets from a custodial wallet after death is typically easier, especially with a bank. However, noncustodial wallets, which allow the owner to manage their assets directly, require a DIY solution. Noncustodial wallets can be software-based, hardware-based, or even a piece of paper with the necessary instructions and passwords.\n\nWhen using a custodial wallet, it's possible to find financial institutions that offer crypto services and have experience transferring assets after death. For instance, Charles Schwab and Chase are well-known banks that provide crypto services. Signing a beneficiary form for a brokerage account applies to the crypto account as well. Additionally, the involvement of multiple entities, such as the bank, the government, and credit reporting bureaus, increases the chances of locating the deceased person's funds.\n\nIn contrast, noncustodial wallets offer more control to the owner, as everything is in their possession. However, they also come with significant drawbacks. If the owner loses access to their cryptographic key, there is no entity to appeal to, and the assets are permanently inaccessible. Moreover, fiduciaries need to be aware of the existence of the crypto account, which is not always the case with custodial wallets. Creating a secure system to pass on cryptocurrency to heirs is challenging and may require trust in various methods, such as email dead-man switches, printed instructions, or splitting instructions among multiple people.",
  "summary": "Claiming an inheritance of Bitcoin or other cryptocurrency can be like hunting for buried treasure. It doesn’t have to be.",
  "key_points": [
    "Cryptocurrency classified as digital asset, not money, in US probate law",
    "Noncustodial wallets require DIY solutions, no beneficiary designation",
    "Custodial wallets with banks ease asset transfer after death"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}