Key Takeaways
- Digital assets (crypto, online accounts, digital businesses) are not automatically covered by a standard Spanish will. You need to explicitly list them or include a general digital assets clause.
- Include access instructions in a secure letter (not the will itself). Passwords and private keys in a public notarial document are a security risk. Use a sealed letter referenced in the will.
- Cryptocurrency holdings require specific attention. Without private keys or seed phrases, your heirs may permanently lose access to potentially significant assets.
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Key Takeaways
- Cryptocurrency and online financial accounts are taxable Spanish succession assets if you are resident in Spain — the declaration obligation applies even when no tax is owed
- Never put live passwords or private keys in your will — the will is a public document registered in Madrid
- A letter of wishes is the practical tool: private, flexible, and updateable without a notary appointment
- Set up emergency access on your password manager (1Password uses an Emergency Kit; Bitwarden has a trusted-contact feature) before it is needed
- Six-step practical minimum: audit digital assets, reference them in the will, set up password manager emergency access, write a letter of wishes, store it accessibly, and use a regulated custodian for crypto where possible
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Password Managers
If you use a password manager (1Password, Bitwarden, LastPass, or similar), your password manager holds the keys to your digital life. If your heirs cannot access it, they cannot access anything it contains.
Most password managers have an “emergency access” feature:
1Password: Emergency kit — a printed sheet containing account sign-in address, secret key, and instructions. Store the emergency kit physically in a secure location.
Bitwarden: Emergency access — designate a trusted person as an emergency contact. They can request access after a waiting period you define.
LastPass: Emergency access — similar trusted contact feature.
If you do one thing this week: set up emergency access for your spouse (or whoever will handle things) on your password manager. Don’t leave it for “later”. When someone dies, your family will need email access for verification codes, bank statements, and documents long before the Spanish inheritance paperwork is finished. No emergency access = everything slows down.
The Letter of Wishes
The most practical tool for digital asset succession is not the Spanish will — it is a separate document called a letter of wishes.
A letter of wishes is:
- Private (not registered publicly)
- Flexible (can be updated without a notary)
- Practical (can contain the kind of specific detail a will cannot safely include)
A letter of wishes for digital assets might contain:
- List of all financial digital accounts and where they are held
- Location of the physical storage for cryptocurrency access credentials
- Instructions for email account recovery and how to use it to access other accounts
- Instructions for password manager emergency access
- Guidance on what to do with specific platforms (memorialization vs deletion for social media, for example)
- Contact details for any digital asset professionals you have worked with
The letter of wishes should be stored in a location your heirs know about and can access without going through the Spanish inheritance process first. A fireproof home safe with your passport, NIE, and property deeds is a reasonable location.
The will can reference the letter of wishes without revealing its contents: “I have prepared a letter of wishes regarding practical access arrangements for digital assets, held at [location].”
Spanish Tax Treatment of Digital Assets
Spanish succession tax (Impuesto de Sucesiones y Donaciones) applies to digital financial assets that form part of a Spanish-resident’s estate. Cryptocurrency and online financial accounts are taxable assets if you are resident in Spain.
The valuation methodology follows market value at the date of death. Heirs must declare cryptocurrency and other digital financial assets on the succession tax return even when the assets are held on international platforms.
For Andalusian residents with direct heirs (spouse, children), the EUR 1,000,000 per-beneficiary allowance and 99% reduction means most estates owe zero succession tax regardless of digital asset values. But the declaration obligation remains regardless of whether tax is owed. See Inheritance Tax in Spain: What Your Heirs Need to Know for the full framework.
The Practical Minimum
If you own digital assets and are making or updating a Spanish will:
- Audit your digital assets and estimate their value
- Ensure your Spanish will references “digital and online financial assets” explicitly
- Set up emergency access on your password manager
- Prepare a letter of wishes with practical access information for the assets that matter
- Store the letter of wishes where your spouse or primary heir can find it without first completing the inheritance process
- For cryptocurrency: use a regulated custodian where possible, or store private key access separately and securely
The goal is not to include everything in the will — it is to ensure the will provides legal authority while a separate, private document provides practical access.
Spanish succession tax treatment of digital assets confirmed February 2026. Password manager emergency access features subject to platform policy changes — verify current features with your password manager provider.
Related Guides
Frequently Asked Questions
Where can I find more guides on this topic?
See our Complete Spanish Wills Guide for the full picture, or browse all guides at guides.waypointsur.com.
