Preparing Cold Storage Records for Family Members
What to document now so heirs are not left guessing which addresses hold which positions.
Holders who plan to pass cold storage positions to family face a documentation problem: seed phrases tell heirs how to access wallets, but not what those wallets contain or why they matter.
What Heirs Actually Need
Beyond the seed phrase (which should be stored separately and securely), heirs benefit from:
- A list of devices and where they are physically stored
- Address labels with acquisition dates
- Notes on which positions are intended for long-term hold vs. incidental balances
- Contact information for any professional who helped prepare records (accountant, attorney)
The Cover Sheet Approach
We add a cover sheet to every folio that explains the holder’s labeling system in plain language. A sentence like “Addresses starting with ‘L1’ are on the Ledger in the bedroom safe” saves hours of confusion.
The cover sheet does not contain seed phrases or private keys. It is an index, not a key.
Timing Matters
The best time to prepare these records is when you are healthy, unhurried, and can verify labels against your own memory. Waiting until a health event forces the conversation adds stress and increases errors.
One client in Daejeon prepared his folio at age 65 and updated it when he added a second device at 67. His children know where the folio lives and what it contains — without knowing seed phrase locations.
Legal Boundaries
Panel Ashcore prepares records; we do not draft wills or provide legal advice on inheritance. Consult a qualified attorney in South Korea for estate planning that incorporates digital assets.
Published 3 April 2025