What happens to your e-wallets and online investments if you die?

When Mr Lim passed away unexpectedly, his family thought they were prepared. His HDB flat had a will, his CPF nomination was up to date, and his life insurance would cover a portion of the expenses.

But a week later, Mrs Lim realised there was money she could not access: balances in various online wallets, a few investment accounts, and a small cryptocurrency holding.

Nobody in the family knew the passwords, and the platforms required extensive legal documentation before any transfer could happen. Months later, some of the funds were still tied up, inaccessible, and causing unnecessary stress during a period of grief.

Although the above story was completely fictious, it is a scenario that many Singaporean families are already facing today.

As our financial lives grow increasingly digital, estate planning is becoming less about just property, insurance, and CPF. Failing to plan for this means we may leave our families locked out of meaningful assets.

Why digital estate planning matters

In Singapore, digital payments and online financial accounts have become a staple:

• Families often keep money in multiple online wallets or e-payment accounts for convenience.
• Investment platforms, brokerage apps, and even digital-only bank accounts may hold thousands of dollars.
• Cryptocurrencies and digital tokens, while sometimes small in value, are entirely inaccessible if login credentials or private keys are lost.

Unlike bank accounts, which follow a clear legal process after death, digital assets often require specific access knowledge. Without it, funds can remain frozen indefinitely, causing financial and emotional strain for surviving family members.

The Singaporean context

A few points make digital estate planning especially important here:

• E-wallet balances may seem small but accumulate: Forgotten balances, loyalty points, or stored value accounts can amount to thousands collectively.
• Digital assets are easy to overlook: People rarely include them in a will, leaving families guessing what exists and how to access it.
• Your crypto passwords can be lost forever: If you have lost your crypto wallet password you have likely permanently lost access to your funds. Unlike a bank, there is no “forgot my password” process.

How to start planning for your digital estate

1. Take inventory of your digital assets

Create a list of all your accounts with stored value or financial significance. Examples include:

• Online payment accounts (wallets, e-payments)
• Investment or brokerage accounts
• Cryptocurrency wallets
• Subscription services that may have stored funds

Include login credentials and, for crypto, private keys or recovery phrases.

2. Decide who should access them

Assign a trusted executor or family member who can access these accounts responsibly. Make sure this person understands the basics of digital finance.

3. Include digital assets in your will

Your will can specify how digital assets should be distributed. Even if you do not list every account individually, you can grant authority to your executor to manage and distribute digital holdings.

4. Secure access information

Options include:

• Password managers with emergency access features
• Encrypted physical storage, such as a sealed envelope or safe
• Legal instructions with your lawyer

5. Regularly update your plan

Digital assets change frequently: new wallets, new apps, new investments. Review your plan annually to ensure it remains accurate.

Lessons for Singaporean families

• Digital estate planning is not just for tech-savvy individuals or those with cryptocurrencies. Anyone with online wallets, investment accounts, or digital-only financial products needs it.
• Even small balances matter. Forgotten e-wallets, online investments, or crypto can add up.
• Without planning, even a small forgotten balance can create months of stress for your loved ones.
• Combining traditional estate planning (wills, CPF nominations, insurance) with digital estate planning ensures a complete financial safety net.