Bitcoin and Inheritance: Why Traditional Wills Aren’t Enough

Bitcoin has completely changed how people think about wealth, but it also creates new challenges—especially when it comes to inheritance. Every year, a large amount of Bitcoin is lost because people pass away or become unable to access their wallets, without any plan in place. While most people rely on a will to pass on their assets, these documents often fall short when it comes to digital assets like Bitcoin. They might name the right people, but they rarely explain how to actually access the funds.

For Bitcoin holders in the UK and beyond, this is a growing concern. In this post, we’ll look at why traditional inheritance planning doesn’t work well for Bitcoin, highlight real examples of lost assets, and explain how Evoke Vault can help.

Why Wills Don’t Cover Bitcoin Properly

Let’s say someone has built up a decent Bitcoin portfolio and put together a will that names their heirs. That’s a good start, but it’s not enough. With property or bank accounts, it’s usually straightforward for an executor to take over. With Bitcoin, it’s different. If no one knows the private key or recovery phrase, the funds are gone. There’s no helpline to call, and even legal documents don’t help when dealing with a decentralized network.

Some estimates say around 20% of all Bitcoin is already lost or stuck in inactive wallets, with inheritance failures being a big reason. In the UK, the probate process can also drag on for months, leaving assets in limbo. And it’s not just about death—unexpected illness or injury can create the same access problem if there’s no backup plan.

Real Stories of Bitcoin Lost Forever

There are plenty of cautionary tales. One early Bitcoin investor passed away without telling anyone how to access his wallet. His family knew the Bitcoin was there, but without the details, they couldn’t do anything. In other cases, people have left vague instructions in a will but forgot to include the seed phrase or recovery steps. Sometimes, families try to figure it out themselves and end up making things worse.

These stories are common, and they show just how risky it is to leave Bitcoin out of your inheritance planning.

How Evoke Vault Helps You Plan for the Future

Evoke Vault is built specifically to solve this problem. It’s a secure, non-custodial platform that helps Bitcoin holders prepare for inheritance and continuity without giving up control.

Here’s how it helps:

• Track Your Bitcoin: Keep a record of where your Bitcoin is held, whether it’s in a hardware wallet, mobile app, or exchange.

• Add Heirs: Choose who should receive your Bitcoin and include instructions they’ll need later.

• Dead Man’s Switch: Set up regular check-ins. If you don’t respond after a set period, your nominated contacts get notified.

• Generate Documents: Create clean, professional PDFs that help your heirs and your solicitor handle things smoothly.

• Multi-Sig Option: If you use multi-signature wallets, you can include Evoke as one signer for added security during recovery—without giving up full control.

  
  

Who Is Evoke Vault For?

If you own Bitcoin and want to make sure your family isn’t left guessing, Evoke Vault is for you. It’s especially useful for high-net-worth individuals, family offices, and even companies holding Bitcoin as part of their treasury strategy. The platform focuses only on Bitcoin, so it avoids the complexity of other digital assets and makes inheritance planning easier to manage.

Don’t Leave It to Chance

If you’ve gone to the trouble of buying and securing Bitcoin, it makes sense to protect it for the next generation. Standard wills don’t go far enough, but Evoke Vault helps you cover the gaps and plan ahead.

You can sign up for early access at evokesolutions.io/evoke-vault