[WSBAPT] Crypto-Wallet Question

[Rebecca King]

I have not dealt with this in my practice, but I have personal experience with crypto.  If your client has the wallet address and the "random words," they are in a good place to start.  Defi is truly decentralized and there is no 1-800 number or other way to get access to the funds.  Feel free to reach out to me, and I am happy to talk this over with you.

Warmest regards,
Rebecca King
Attorney

Northwest Elder Law Group
2150 N. 107th Street, Suite 501
Seattle, WA 98133
Main: (206) 937-6102
Direct Line and Fax: (206) 866-6544

Providing Services in Elder Law

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Doehne, Jen
Sent: Friday, April 14, 2023 3:25 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Crypto-Wallet Question

Hello all-
Background: Administrator of intestate estate discovered that decedent held multiple cryptocurrency wallets, but is not certain if any of the wallets contain any actual currencies in them. Decedent died unexpectedly and did not leave clear instructions, or any instructions, on how to gain access to any of the wallets. Administrator discovered random scraps of paper which have the name of each wallet followed by multiple random words, which are suspected to be the "seed phrase" or "key" for each wallet, but Administrator is uncertain, as are we. Administrator has researched each wallet (Metamask, Coinbase Waller-not the exchange, Tzero, Trust wallet, and Pie Wallet) and none of the wallets appear to have a "department" or customer service or any such division which can be contacted for assistance or to subpoena for access. Thus, our questions are as follows:


  1.  Has anyone dealt with such an issue, and if so, are we correct that these wallets are truly decentralized and there is no single corporate or other type of entity which can be subpoenaed for access to the crypto in each wallet?
  2.  Would someone be "locked out" permanently if they enter the seed phrase incorrectly, or would the wallet provide some sort of warning that x amount of attempts remain?
  3.  Generally, how have other attorneys dealt with crypto issues in probates? And how do others view the PR/Administrator's fiduciary duties as it pertains to gaining access to cryptocurrencies a decedent may have left behind?

Thanks for any insight!
Best,
Jen



Jen Doehne, Attorney
Pronouns she/her/hers
[cid:image001.png at 01D96EE7.5F4C7FD0]
909 A Street, Suite 600 | Tacoma, WA 98402
phone 253.572.4500 | fax 253.272.5732 | www.eisenhowerlaw.com<http://www.eisenhowerlaw.com/>
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