This page covers beneficiaries for Swan Personal accounts. If you want to add a beneficiary for your IRA account learn more here.
What is a beneficiary?
A beneficiary is the person (or people) you designate to receive your Bitcoin if something happens to you. By naming a beneficiary on your Swan account, your assets can transfer directly to them, without going through probate court.
How to add a beneficiary:
- Log in to your Swan account (web)
- Click the menu → select Beneficiaries
- Add your Primary and/or Secondary beneficiaries
- Review and sign via DocuSign
What's the difference between a Primary and Secondary beneficiary?
- Primary beneficiaries receive your assets first. If you name multiple primary beneficiaries, assets are split according to the percentages you specify.
- Secondary (contingent) beneficiaries only receive assets if all primary beneficiaries are unable to inherit (e.g., they have passed away or cannot be located).
Can I update or change my beneficiaries later?
Yes. You can update your beneficiaries at any time by going to Menu → Beneficiaries in your Swan account and submitting a new form.
Where does the beneficiary information go?
Once you complete and sign the beneficiary form via DocuSign, it is sent directly to our custodian, Bakkt, and kept on file.
Does adding a beneficiary replace my will or estate plan?
No. A beneficiary designation on your Swan account works alongside your estate plan. In most cases, a beneficiary designation overrides what's written in a will for that specific account. We recommend consulting with an estate planning attorney to ensure your Bitcoin is included in your overall plan.