International inheritances with digital assets: cryptocurrencies, NFTs, and online accounts
Digitalization has completely transformed people's assets.
Today we no longer just talk about bank accounts, real estate or stocks, but also about cryptocurrencies, NFTs and digital profiles that are part of the life —and the inheritance— of any person.
When these assets coincide with an international inheritance, the legal challenge multiplies: what regulations apply?, how are volatile assets such as cryptocurrencies valued?, what happens if the heirs are in different countries?
In this article we explain the legal and practical keys to international inheritances with digital assets, the most common problems and the solutions to manage them securely.
What are digital assets and why do they create conflicts in international inheritances?
Digital assets cover a wide range of assets, from the most well-known to the most intangible:
- Cryptocurrencies: Bitcoin, Ethereum or any token in blockchain.
- NFTs (Non-Fungible Tokens): unique digital artworks, collectibles, or smart contracts.
- Online accounts and digital services: email, social networks, platform subscriptions or even video game wallets.
The difficulty arises because it is not always clear where these assets "reside".
A bank account has an obvious location; on the other hand, a cryptocurrency wallet can be managed from an exchange in another country or simply protected by private keys with no physical location.
In international inheritances, this factor adds uncertainty:
- Which court is competent to regulate them?
- What legislation applies?
- How is real access to assets guaranteed?
The legal challenge: What law applies to an inheritance involving international digital assets?
The European Succession Regulation (650/2012) establishes that succession will be governed, in general, by the law of the habitual residence of the deceased at the time of death.
When there are connections with several countries (residence, assets, heirs), Regulation (EU) 650/2012 applies.
Its keys:
(a) As a general rule, the law of the State of the deceased's last habitual residence governs the entire succession , regardless of where the assets are located (universal application).
(b) The testator may choose in his will the law of his nationality ( professio iuris ).
(c) The Regulation creates the European Certificate of Succession (ECS) , a document that allows heirs/legatees to prove their status in other Member States.
However, in the case of digital goods, three additional problems arise:
- Difficulty of locationCryptocurrencies are not deposited in a specific country. The private key may be in Spain, while the exchange that holds them operates in the United States or Singapore.
- Different conflicting normsSome countries continue to apply the nationality of the deceased, others the location of the assets, which can generate contradictory results.
- Lack of knowledge of the heirsIf no one knows that these assets exist or how to access them, they risk being lost.
Access to online accounts and data after death (Spain)
The LOPDGDD regulates two very useful legal keys:
- Article 3: family and heirs may contact the data controllers/processors for request access, rectification or deletion de personal data of the deceased (unless the deceased had prohibited it).
- Article 96 (“digital will”): Relatives, heirs or a person designated by the deceased may address the information society service providers (networks, mail, cloud) for access content, decide its fate or delete it, with the limit of an express prohibition by the deceased.
In practice, the major platforms have their own channels :
- Google: Inactive Account Manager allows you to designate trusted contacts during your lifetime and what to do with the account if it becomes inactive (sharing data, deleting it, etc.).
- Facebook: legacy contact (legacy contact) and memorialization/elimination from the account with proof of death.
How are digital assets valued in an inheritance?
One of the major challenges is the economic valuation of these assets:
- Cryptocurrencies: Its price is extremely volatile, so In the ISD the reference must be set to the date of death (accrual date), documenting the price of that day.
- NFTSince there's no regulated market, their valuation depends on supply and demand. Some can be worth millions, others nothing.
- Online accounts: In many cases, the value is not economic (example: photos in the cloud, personal emails), but they do have a moral and patrimonial value that must be protected.
In practice, heirs face additional obstacles:
- Lack of access to wallets due to lack of knowledge of passwords or double authentication systems.
- account lockout on international platforms that require court orders or legalized documents to recognize the transmission mortis causa.
Frequent cases in international inheritances with digital assets
Some real examples that illustrate the complexity:
- Death with cryptocurrency on a foreign exchange: The heir must prove his legal status to a company based outside the EU, often involving certified translations and lengthy procedures.
- NFTs linked to smart contracts: Ownership is proven on the blockchain, but access can be blocked if the private key is not known.
- Conflicts between heirs in different countriesSome are calling for digital assets to be liquidated, others for them to be kept as investments.
- Hidden assets: cryptocurrencies that are undeclared or unknown to the family, which are excluded from the inheritance if no one proves their existence.
Legal solutions and practical steps for inheriting digital assets
Complexity does not mean there are no solutions.
There are preventive and reactive measures that make a difference:
1. Appoint a digital executor
It is advisable to designate in your will a person responsible for safeguarding, locating, and transferring your digital assets.
Their role is key when the heirs lack technical knowledge.
2. Notarize wishes in a will
The will must expressly mention the existence of digital assets.
Including these provisions in the ordinary will —or in an annex/key deposit— prevents their loss and facilitates their distribution ( in Spain there is no “digital will” as a separate document ; art. 96 LOPDGDD regulates access and management of content after death).
3. Registration and custody of keys
Store the private keys in a custodial service, at a notary's office, or using security protocols that allow heirs to access them without violating the privacy of the living testator.
4. Practical recommendations
- update regularly the list of digital assets.
- Inform the heirs or at least the executor of its existence.
- Avoid centralized custody without documentation, since exchanges can block access if they don't know the heir.
Wills with digital legacy clauses in international inheritances: what should they include?
A will adapted to the digital age should contain :
- List of accounts and assets known digitals.
- Identification from wallets, exchanges or associated platforms.
- Appointment of the digital executor and its faculties.
- Clear instructions on the destination of each asset (example: donating NFT to a cultural institution, liquidating cryptocurrencies and distributing the amount, maintaining family accounts).
Intestate inheritances: how to claim digital assets
In cases of intestate succession (without a will), the heirs may:
- Request exchange certificates to prove ownership.
- Colaborating usability tests (email history, blockchain transactions).
- Initiate legal proceedings in the jurisdiction competent to claim access.
However, the more dispersed and opaque the digital heritage, the greater the risk that part of the inheritance will remain inaccessible.
Conclusion
International inheritances involving digital assets are one of the major legal challenges of this decade.
European regulations provide a framework, but they do not address all the specificities of digital assets: volatility, uncertain location, and difficulty of access.
That's why international estate planning is essential. Including digital assets in your will, appointing a digital executor, and anticipating legal obstacles prevents wealth loss and ensures that heirs receive what they are entitled to.
At RRYP Global we assist families and individuals in international succession processes.
If you want to protect your digital inheritance or need help claiming it, contact us and we'll guide you through every step.
RRYP Global, cross-border probate and cyberlegal lawyers .