It's estimated that only 30–40% of Americans have an established estate plan, and surprisingly, only around 30% of those have been updated within the last five years. What's more disappointing to me is that, in my experience, those numbers seem to hold true for bitcoiners too.
We hold this pristine, generational asset that could benefit our families for decades, yet many of us have failed to ensure our heirs — or even our spouse — can actually access it if we were to pass away or become incapacitated today. Let this serve as your reminder: there are no safety nets and no do-overs. There is no backstop for your private keys. You are responsible.
My goal is to help ensure your stack actually benefits your family after you're gone. This is the single biggest blind spot I continue to see among bitcoiners — and no, collaborative custody alone does not solve it.
My conversations around estate planning and inheritance usually go like this:
Me: "Do you have an estate plan set up?"
And I get one of three responses:
Let's play each of these out a little further.
Me: "Any concerns about what that could mean for your assets and your kids?"
Them: "I mean, it's something I know I probably should do — just haven't yet."
Me: "Understandable. It can be overwhelming to get started. So let's play out the scenario of moving forward with nothing.
Fundamentally, an estate plan lets you take control of what happens to your family and your wealth after you pass or become incapacitated. It lets you decide who your minor kids go to if you and your spouse both pass. As of now? A judge decides. And not only does the judge decide who your kids go to — they also decide who manages your wealth on behalf of your children until they're adults.
I've never met a bitcoiner who wants to leave his kids and his bitcoin in the hands of a judge. That's assuming anyone even knows about your bitcoin — otherwise it could be lost forever. And once this process is complete, that information often becomes public record, placing a target for theft, violence, or litigation on the people you love. None of us want that."
You can imagine where it goes from there.
Me: "Does that will include all of your family members and heirs? And did you know a will doesn't actually let you bypass probate?"
Them: "Yes, it includes everyone — but I didn't know it would still go through probate."
Me: "It would. And your bitcoin would become public knowledge in that case. In a world where bitcoiners have 'won,' so to speak, the last thing we want is to put a target on our kids' backs for litigation or violence."
I could go on about the downsides of relying on a will alone, but I'll keep this brief.
Me: "Is bitcoin included in your trust?"
Them: "No, it's not. We set it up years ago, before I started buying bitcoin."
I think you get the point, so I'll spare you the rest.
To be clear: I'm not judging anyone in these conversations. My goal is simply to help you ensure that no matter what life throws at you, your loved ones can actually benefit from the generational asset bitcoin is.
1. Procrastination. Most people recognize the importance of nailing this down, but it feels like something you don't need until old age. It feels important but not urgent — and in our society, urgent tasks (important or not) tend to crowd out everything else, leaving items like this on the back burner until it's too late.
2. Lack of clarity. Pair a perceived lack of urgency with confusion, and the starting gun never goes off. It feels overwhelming to even identify where the starting line is. When we lack clarity, we lack confidence, and that can paralyze us.
3. Can't find an expert who understands bitcoin. Bitcoiners are often stuck in no man's land. Estate attorneys and traditional financial professionals understand estate planning, but they don't understand bitcoin. Bitcoiners and bitcoin consultants know the technical side cold, but they don't understand estate planning. Unsure of who to turn to, bitcoiners end up stuck and uncatered to.
That's exactly the gap we exist to bridge — so bitcoiners can sleep peacefully knowing they have an ironclad plan that protects them from both the dangers of the legal system and the risk of losing their stack forever.
But before we get to the solution, I want to make sure it's clear why you, as a bitcoiner, want to avoid probate in the first place.
Probate is the legal process that happens after someone dies to settle their estate. A court oversees the validation of a will (if one exists), identifies the deceased's assets, pays off any debts or taxes, and distributes the remaining property to heirs or beneficiaries. If there's no will, the court follows state law to decide who gets what.
1. Probate can take forever. The timeline varies by state, but the average probate process runs anywhere from 6 to 16 months — and sometimes longer. Imagine your heirs dealing with the legal system for that long simply to take ownership of their inheritance.
2. Your assets could become public knowledge. Once probate is complete, your estate often becomes public record. I've yet to meet a bitcoiner who's comfortable with the world knowing exactly how much bitcoin they owned — and that it's now in the hands of their kids.
3. Probate can be costly. Attorney fees, court fees, executor fees, and the list goes on — especially if the estate is contested, which happens more often than we'd like to think. Money makes people do strange things, and heir drama can drag the process out and cost your inheritors dearly.
So as a bitcoiner, where should you start?
Every estate planning and inheritance conversation has to begin with bitcoin custody. Every aspect of an ironclad plan flows downstream from how you hold your coins.
For example, if you hold your bitcoin on an exchange (not recommended), you can assign beneficiaries to your account and — theoretically — you're good to go. But your legal documents and inheritance protocol look completely different if instead you're running single-signature cold storage on a Coldcard. You can't slap a beneficiary on a Coldcard (yet). And that looks different again from a collaborative 2-of-3 multisig setup.
At Strong Wealth, we've built our own Bitcoin Custody Framework to help clients work through every consideration and tradeoff and arrive at the best structure — or combination of structures — for them, their family, and their broader financial plan. Going deep on each custody option and its risks is beyond the scope of this post, but I strongly encourage you to choose your custody solution from a fully informed position before building out the three pillars of your estate and inheritance plan.
The biggest misconception people have is that setting up a collaborative multisig arrangement with an institution solves this problem. A third party holding a backup key may help your spouse or heirs access your bitcoin to some extent — but it absolutely will not solve this on its own, no matter what others portray online.
What if she doesn't know where the hardware wallets are stored? What if she doesn't know where the backups are? What if she doesn't know what information she needs to contact your provider with? The same goes for your heirs. What if they don't know what should be done with the bitcoin even if they can access it? What if they don't have legal title? What if the bitcoin goes through probate? What if… what if… what if…
The point is this: don't assume your estate and inheritance plan is solved just because an institution holds one of your keys.
Now let's get to the three pillars of a complete plan.
There are three primary ways a person conveys legal title upon passing:
Here's the problem: given the very nature of self-custodied bitcoin, you don't have a jointly owned "bitcoin account," and you can't assign a beneficiary to your hardware wallet. That leaves you with two options — establish a trust, or subject your estate to probate. And I hope I've made it abundantly clear why you don't want your bitcoin going through probate.
So what's the best option (my opinion — not legal advice)? Establish a trust. I won't go into the different types of trusts or exactly how to incorporate bitcoin into yours here, but if you'd like personalized guidance, you can schedule a free discovery call through our website.
Pillar #2 answers one question: "What would someone need to know to take possession of my bitcoin?"
Your bitcoin inheritance protocol answers that by documenting the necessary information for your loved ones or the executor of your estate. It's critical to write this assuming the reader knows nothing — you have to be that clear, or it'll read like a foreign language.
What should be included:
How to secure it:
Once this is in place, it's critical to communicate it clearly and regularly — but only with the individuals who absolutely need to know. Taking all these steps and telling no one is useless.
The right to legal ownership and the ability to take possession of the private keys mean nothing without an understanding of what bitcoin is and the opportunity it represents for the people inheriting it.
This education can come directly from you, from resources you point them to, or from the contact information of trusted professionals. For example, our clients include our contact information so we can assist both with a successful key-possession transfer and with educating heirs on bitcoin and how to incorporate it into their broader financial plan.
I know this step is the easiest one to skip — but it may be the most important for keeping your bitcoin in the family long term, rather than seeing it liquidated unnecessarily because of volatility or some other factor.
At Strong Wealth, we provide templates for each of these pillars and help you construct your own complete bitcoin estate and inheritance plan. Schedule a call to learn more.
After fortifying the three pillars of your plan, it's important to review it regularly. A few questions to revisit:
Those are a great starting point for reviewing your plan. As much as I wish this were a one-time exercise, it rarely is. Our lives, the legal framework, and bitcoin itself are constantly changing, and we have to adapt to make sure our wealth benefits the people we love.
Don't read this far and then let it fall (yet again) to the back burner of your mental to-do list. I'll say it once more: there are no safety nets and no third-party backstops with bitcoin. As the generational asset we all know it can be, it deserves intentional planning.
I know this can feel overwhelming. If you want step-by-step, personalized guidance on your bitcoin estate and inheritance plan, schedule a free discovery call with us through strongwealth.net.
Have questions? Email mitch@strongwealth.net and I'll be happy to answer.
Thanks for reading all the way through. I pray bitcoin continues to be a blessing for your family for decades to come.
Disclosures: Strong Wealth is a Registered Investment Advisor (RIA). All information in this post is for informational purposes only and is not legal advice. Consult your financial or legal professional for personalized advice regarding your specific financial or estate circumstances. Laws vary from state to state, and this post is not a comprehensive breakdown of your particular state. The information here may not apply to your specific circumstances, and does not apply if you are not subject to United States federal law or the laws of an individual U.S. state. You are solely responsible for any decisions you make after reading this. Owning, securing, and transacting with bitcoin involves potential risk of theft, regulatory change, fraud, volatility, or error leading to permanent loss of capital. This post does not imply any guarantee of bitcoin's future value; like any financial asset, bitcoin could become worthless, and historical performance is not a guarantee of future results. Bitcoin-related laws and technology change rapidly. This was originally written to reflect the technology and applicable laws as of May 2025.