There are billions of dollars sitting in crypto wallets right now that will become permanently inaccessible when their owners die — not because the crypto is “lost,” but because nobody made a legal plan for it. Florida Chapter 740 is the law that governs what happens to your digital assets when you die. Most people have never heard of it.
Florida Chapter 740: The Fiduciary Access to Digital Assets Act
Florida Chapter 740 — the Florida Fiduciary Access to Digital Assets Act (FADA) — has been in effect since 2016. It establishes the legal framework for fiduciary access to digital assets: who can access them, under what circumstances, and with what legal authority. The law covers cryptocurrency, email, social media, online banking, digital files, and online businesses.
Why Cryptocurrency Is Fundamentally Different from Other Assets
Traditional financial assets — bank accounts, investment accounts, real estate — have established legal transfer mechanisms. Banks and brokerages can freeze accounts, respond to court orders, and transfer ownership through legal processes.
Cryptocurrency is different. Most cryptocurrency is secured by private cryptographic keys. Without the private key, the cryptocurrency is inaccessible — permanently. No bank, no court order, no attorney can access a crypto wallet without the private key. Billions of dollars in cryptocurrency has already been permanently lost because owners died without leaving their private keys to anyone.
The Three-Level Hierarchy Under Florida Chapter 740
Florida Chapter 740 establishes a three-level hierarchy for fiduciary access to digital assets:
- Platform-level tools — What the user specified using the platform’s own tools (like Google’s Inactive Account Manager, Facebook’s Legacy Contact, or a crypto exchange’s account transfer feature). These take priority over everything else.
- Legal documents — What a will, trust, or power of attorney specifically authorizes regarding digital assets. Florida law allows specific authority over digital assets to be granted in these documents.
- Default state law — What Chapter 740 allows in the absence of any prior direction. This provides baseline access for legally authorized fiduciaries but is the weakest form of access.
What You Must Do Now to Protect Your Digital Assets
Protecting your digital assets requires action in your lifetime:
- Create a secure, complete inventory of all digital accounts and assets — including login credentials and private keys for cryptocurrency
- Store this inventory where your executor or trustee can access it after your death — but securely enough that it can’t be accessed by others during your lifetime
- Use platform-level legacy tools where available (set up a Google Inactive Account Manager, designate a Facebook Legacy Contact, etc.)
- Include specific digital asset authorization language in your will and trust documents
- Consider whether crypto assets should be held on an exchange (where legal transfer mechanisms exist) rather than in a personal wallet
The Cost of Not Planning for Digital Assets
Cryptocurrency with no recovery path is permanently lost at the owner’s death. Social media accounts that can’t be accessed can’t be memorialized or deleted. Email accounts that can’t be accessed may contain years of important correspondence, tax documents, or financial information. Online businesses may continue operating without legal authority — or be permanently inaccessible. The failure to plan for digital assets is increasingly one of the most significant estate planning oversights for modern Americans.
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Frequently Asked Questions
What happens to my Bitcoin when I die if I haven’t planned for it?
If you die without leaving your private key or seed phrase to anyone, your Bitcoin is permanently inaccessible. No legal process can retrieve cryptocurrency without the private key. If you’ve planned properly — by leaving secure access information to your executor or trustee — your Bitcoin can be transferred to your estate and distributed according to your plan.
Can I leave my crypto to someone in my will?
Yes. You can leave cryptocurrency to a beneficiary through your will. But the will alone is not enough — you also need to ensure that your executor has the technical ability to access and transfer the cryptocurrency. This requires documented private key information stored in a secure, accessible location.
Does Florida law cover all types of digital assets?
Florida Chapter 740 covers a broad range of digital assets including: cryptocurrency and digital currency; electronic communications (email, text messages); social media accounts; digital files and data stored online; online financial accounts; and digital businesses. The specific rules for fiduciary access vary by asset type.
Don’t Let Your Digital Assets Disappear
A proper digital asset plan ensures your cryptocurrency, accounts, and online assets can be accessed and transferred to your family. Contact Weidner Law to add digital asset planning to your estate plan.
Read the Exact Statute
The exact text of Florida law cited in this article is published word-for-word — free, complete, and fully organized — at FloridaRules.net. Direct links:
FloridaRules.net — Every Florida Probate Rule, Statute, and Case Commentary. In One Place.
