Jewelry, Collectibles, Cars, Digital Assets and Cryptocurrency: How Does a Trust Handle Them?

These assets have no deed and often no account name. They are the easiest to forget and the most likely to cause family disputes: “Who gets Mom’s jade bracelet?” This article takes them one at a time.

Part One: Jewelry, Art, Collectibles and Other Personal Items

How Do Items Without a Title Go Into a Trust?

By written assignment. But note a New York-specific rule: if you are the sole trustee, the assignment must describe the property specifically (EPTL §7-1.18). “All my personal property” may not be enough.

Our suggestion: List valuable items with a description, identifying features, serial numbers or photos, and appraised values, and attach the list to the assignment.

I Want a Specific Piece of Jewelry to Go to a Specific Person. How Do I Say That?

The safest way is to write it directly into the trust (or will), for example, “my jade bracelet to my eldest daughter.”

Note: In New York, a separate list of gifts written after the will and merely referred to in it is generally treated only as a wish and may not be legally binding. If you want to make changes later, formally amend your trust instead of jotting notes on a piece of paper.

What Else Should I Consider for Valuables?

Insurance: Update jewelry and art riders to the trust or trustee;
Appraisals: Date-of-death values affect estate tax and the cost basis for a later sale. Keep receipts and certificates;
Storage: If items are in a safe deposit box, make sure your successor trustee can get in (see Part 10).

Part Two: Cars

Should My Car Go Into the Trust?

In most cases, no.
- Everyday cars lose value, so there is little benefit;
- Moving the insurance and registration to a trust can create extra complications;
- New York law already gives a surviving spouse or children under 21 one vehicle worth up to $25,000 as exempt property outside the estate process (EPTL §5-3.1), and the DMV has a simplified transfer process.

When Might It Make Sense?

For high-value or collector cars, boats or RVs, a trust may make sense, but confirm the insurance arrangements with your insurer first.

Part Three: Digital Assets

What Counts as a “Digital Asset”?

Email, social media, cloud photos, online stores, domain names, gaming accounts, loyalty points and miles, e-book and music accounts, and more.

After I Die, Can My Family Access My Email and Social Media?

New York has a dedicated digital assets law (EPTL Article 13-A). Roughly:
1. Any “legacy contact” tool you set up on the platform comes first, such as Google’s Inactive Account Manager, Apple’s Digital Legacy Contact or Facebook’s legacy contact;
2. Next, whether your will, trust or power of attorney expressly grants access;
3. If neither exists, the platform’s terms of service control, and families often cannot get the content.

Importantly, access to the content of communications such as email usually requires your express consent.

What Should I Do?

Set up legacy contacts on major platforms;
Include digital asset authorization in your trust and power of attorney;
Use a password manager and plan how your successor trustee will get the master password;
Do not write passwords in the trust document itself. Banks, title companies and others may need to see the trust.

Part Four: Cryptocurrency

Can Cryptocurrency Go Into a Trust?

Yes, but the key is not the name on the account; it’s the keys.

Held on an exchange: Some exchanges allow trust accounts or have procedures for death;
Self-custody (cold wallet, private key, seed phrase): Without the private key, no one can access it. You need a secure handoff plan, such as sealed instructions kept in a safe place, or multi-signature arrangements, so your successor trustee can get access when needed but cannot use it without authority in the meantime.

What Should the Trust Say?

Expressly authorize the trustee to hold and manage cryptocurrency;
Because crypto is volatile, state that the trustee is not liable for failing to diversify. Otherwise, under the prudent investor standard, the trustee may feel forced to sell quickly;
Authorize the trustee to hire technical advisors.

Part Five: Other Easily Forgotten Assets

Intellectual property (copyrights, patents, trademarks, royalties): transfer to the trust by written assignment;
Money owed to you (loans, receivables): assign the note or claim in writing;
Cash or gold at home: assign in writing and tell your successor trustee where it is;
Pets: a pet trust (EPTL §7-8.1) can name a caretaker and set aside funds.

The Bottom Line

These “small” assets often carry the most sentimental value and cause the most arguments. A clear list, explicit authority and a well-planned handoff of keys are how you prevent disputes.

Attorney’s perspective

These “small” assets cause the most family disputes. I encourage clients to name meaningful items specifically in the trust, and I design a secure handoff for digital assets and crypto, so the successor trustee can get access when needed but no one can use them without authority in the meantime.

For advice about your own family’s situation, call +1 718-218-5805 or schedule a consultation. We meet clients in Flushing and Manhattan, in English or Chinese.

Series overview

This article is for general information only and is not legal advice. Reading it does not create an attorney-client relationship. For advice about your situation, please contact us.

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