Crypto Estate Access and Recovery Checklist South Africa
Crypto assets can be visible on a balance sheet yet inaccessible to an executor if the family cannot identify the exchange, wallet, recovery process or lawful authority. A digital-asset estate file should preserve evidence and recovery instructions without exposing private keys.
This checklist is general information, not legal, tax, cybersecurity, investment or Shariah advice. Crypto assets and service-provider processes differ. Use qualified professionals and secure custody practices.
1. Build an asset inventory
List each token, exchange account, custodial wallet and self-custody wallet. Record the network, public address where appropriate, legal owner, acquisition source and evidence date. Do not place seed phrases or private keys in the inventory.
2. Distinguish custody types
State whether a regulated provider, exchange, hardware wallet, software wallet, multisignature arrangement or another method controls access. Record who can transact and which recovery process applies.
3. Preserve acquisition and tax records
Keep purchase, sale, transfer, staking, reward and fee records, together with rand values and exchange-rate evidence. Link transfers between the family’s own wallets so they are not mistaken for disposals.
4. Document lawful access
Record what documents the exchange or custodian requires after death or incapacity. For self-custody, use a secure recovery arrangement designed with legal and cybersecurity advice. Avoid giving one family member uncontrolled access during the owner’s life.
5. Test key-person failure
Ask whether the assets remain recoverable if the owner, a co-signer or a service provider is unavailable. Review multisignature thresholds, device loss, backup integrity and geographic concentration.
6. Protect recovery secrets
Store seed phrases, keys and backup material separately from the general estate file. Use tamper-evident and access-controlled arrangements appropriate to the value. Never email or photograph recovery secrets for convenience.
7. Record executor instructions
Provide a controlled index of assets, service providers, advisers, devices and the process for obtaining access after formal appointment. Explain what must not be done, including unverified transfers or disclosure of keys.
8. Review the will and authority
Ensure the will and estate plan recognise digital assets without publishing sensitive technical details. Obtain legal advice on ownership, executor powers, foreign providers and any trust or company involvement.
9. Apply Shariah review
Record the family’s adopted analysis for each token, activity and yield mechanism. A token classification can change as the protocol, use or income process changes. Keep evidence and review dates.
10. Plan for price and liquidity risk
Set instructions for valuation, custody costs and professional review, while leaving lawful discretion to the executor. Avoid a rigid sale instruction based on assumed market conditions.
11. Address scams and impersonation
Require independent verification of recovery services, wallet addresses and support contacts. Executors are common targets for urgent requests and fake technical assistance.
12. Run an annual recovery test
Without exposing secrets, confirm that devices, backups, signers and provider contact routes still work. Update the inventory after every material transaction or custody change.
Official starting points
Practical outcome: an authorised executor should be able to identify the assets, prove ownership and follow a secure recovery process without exposing credentials prematurely.
