In today’s world, estates aren’t limited to houses, bank accounts, and cars. More and more Miami residents own digital assets—including cryptocurrency wallets, NFTs, online businesses, and social media accounts.
But what happens to these digital assets after someone dies? Florida law requires that they be identified, valued, and distributed just like physical assets. Unfortunately, without proper planning, heirs may lose access permanently.
What Are Digital Assets in Probate?
Digital assets include:
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Cryptocurrency (Bitcoin, Ethereum, etc.)
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NFTs (non-fungible tokens tied to art, music, collectibles)
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Online Accounts (PayPal, Venmo, eBay, Amazon seller accounts)
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Domain Names & Websites
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Social Media Accounts (Facebook, Instagram, Twitter/X, TikTok)
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Cloud Storage (Google Drive, Dropbox, iCloud files)
📌 Example: A Miami resident passes away owning $200,000 in Bitcoin stored in a private wallet. Without access keys, the heirs cannot retrieve it.
Challenges of Digital Assets in Probate
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Access Issues
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Many digital assets require passwords, encryption keys, or 2FA codes.
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Without them, heirs may lose access permanently.
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Valuation Problems
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Cryptocurrency values fluctuate daily.
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NFTs and digital businesses are difficult to appraise.
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Hidden Assets
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If heirs don’t know digital assets exist, they may never be claimed.
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Legal Hurdles
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Florida law (Fiduciary Access to Digital Assets Act, 2016) governs access.
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Courts may need to authorize personal representatives to obtain data.
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How a Probate Lawyer Helps with Digital Assets
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Locating Assets
Works with heirs to identify wallets, accounts, and online properties. -
Securing Access
Obtains court orders when needed to retrieve account data. -
Valuation
Coordinates with appraisers for crypto, NFTs, and online businesses. -
Distribution
Ensures digital assets are legally transferred to heirs. -
Prevention of Loss
Advises families on storing access keys, backups, and legal documentation.
📌 Example: A Miami probate lawyer helped heirs recover $75,000 in Ethereum after obtaining court orders to access the deceased’s Coinbase account.
Estate Planning for Digital Assets
To avoid probate headaches, families should:
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List Digital Assets in wills or trusts.
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Store Private Keys Securely (with lawyers, in vaults, or encrypted files).
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Use Digital Asset Trusts to manage cryptocurrency and NFTs.
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Grant Access legally to executors under Florida’s Digital Assets Act.
👉 A probate lawyer can set these up in advance, ensuring heirs don’t lose valuable digital wealth.
FAQs About Digital Assets in Probate
Q: Do crypto exchanges allow heirs to claim accounts?
👉 Yes, but only with legal proof (death certificate + court orders).
Q: Can heirs inherit NFTs?
👉 Yes. NFTs are property and must be transferred like any other asset.
Q: What if digital assets are lost?
👉 Without access keys or proper planning, recovery may be impossible.
Conclusion
Digital assets are now a significant part of many Miami estates. From cryptocurrency wallets to online businesses, these assets require careful handling during probate. Without legal guidance, families risk losing them forever.
A Miami probate lawyer ensures digital assets are identified, secured, valued, and distributed properly—protecting your loved one’s legacy in the digital world.
📞 If you’re dealing with digital assets or cryptocurrency in probate, contact our Miami probate lawyers today. We’ll help secure access and protect your inheritance.
