Cryptocurrencies And Estate Planning

When a person dies having made a will, their personal estate is transferred to their personal representatives and thereafter to the person, or people, who have been named as beneficiaries, once the administration of their estate is complete.

If a will has not been prepared, the deceased's personal estate is distributed among their surviving relatives pursuant to the terms of the Succession Act 1974, subsequent to the administration of their estate being complete.

Bermuda's Wills Act 1988 defines “personal estate” to include leasehold estates, company shares, and chattels, among other forms of assets, and “all other property whatsoever which by law devolves upon an executor or administrator”.