Digital assets — cryptocurrency, NFTs, virtual property, and tokenised holdings — fall within the meaning of "property" under section 3 of the Wills Act 1959, but the statute does not solve the retrieval problem
The estate's problem is not legal entitlement but practical retrieval — assets held only as entries on a distributed ledger require the private key, and the law of succession does not generate one
A will admitted in support of a probate application becomes part of the court record; the seed phrase belongs in a letter of wishes and a custody plan — not in the will itself
Section 3 of the Wills Act 1959 entitles a testator to devise "all property which he owns and to which he is entitled, either at law or in equity, at the time of his death." The statutory definition is broad enough to capture digital assets built on blockchain. The legal entitlement is not in doubt; the practical retrievability is.
This issue covers why most wills fail digital assets, why private keys cannot go in a will that becomes a court record, and six steps every holder should take before the estate has to. It also makes a practical point about the holders most at risk: not those with poor custody hygiene, but those who have entrusted a third party with no documented standing in the estate plan.
Disclaimer: This publication is issued by Donny & Ong with the assistance of Mandy, the Firm's AI-powered publications, content, and technology associate, for general informational purposes only. It does not constitute legal advice. For specific legal advice tailored to your circumstances, please reach out to the relevant partner.
