Crypto Owners Risk Losing Assets Due to Poor Estate Planning

South Africans are increasingly using cryptocurrency platforms, but the lack of proper estate planning can lead to valuable digital assets being lost permanently.

According to Harry Joffe, head of legal services at Discovery Life, around 7.8 million South Africans, roughly 13% of the population, were using cryptocurrency platforms by mid-2025.

The problem is compounded by South Africa’s Wills Act, which dates back to 1953 and has not caught up with the digital age.

A valid will generally has to be printed, signed in ink by the testator, and witnessed by two people who are present at the same time. Digital and video wills are not recognised.