Can I save probate tax on my crypto in Ontario?

Short answer

Yes, but only if no one else controls it and it's in the right Will.

If your crypto isn’t locked up by an exchange or institutional platform that requires court documents, it can stay out of probate and skip the 1.5% probate tax by putting it in a secondary non-probate Will. That usually means holding it in a private, non-custodial wallet that your executor can access and not on an exchange. Most crypto Wills get this wrong.

Long answer

You can avoid probate (and the tax) if no third party controls the crypto. That means:

  • It’s held in a non-custodial wallet — like Ledger, MetaMask, Trezor, or a cold wallet.
  • Your executor has direct access to the private keys or seed phrase.
  • There’s no third-party gatekeeper. No platform to verify your identity. No release process tied to account ownership. Just the keys and whoever holds them has control.
If those conditions are met, the crypto can be covered in a secondary Will: a non-probate Will that applies only to assets the executor can access privately.

That Will stays out of court. The crypto stays off the probate inventory. And the estate avoids the tax.

The problem is, most people store crypto on exchanges. If it’s on Coinbase, Kraken, or Wealthsimple, your executor can’t access it without going through the platform. That means probate is required, and the asset must go in the main Will. Trying to route it through a secondary Will in that case won't work. The executor will be stuck, and the probate tax still applies.

So yes, crypto can avoid probate, but only if no one else controls it, and only if you structure the plan correctly with a second Will.

🔍 Wait — how are you supposed to know if something requires probate?
It’s not about the asset. It’s about access.
If your executor has to go to court to prove they’re in charge because a third party controlling the asset insists on it (usually to cover their ass from liability) that triggers probate.
If your executor already holds the keys (literally, in the case of crypto), that’s when we can use a secondary Will to keep the asset out of probate and out of the 1.5% probate tax.

Most people never get told this. 

Make sure your estate planning actually fits how your crypto is held.

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This content is for general information only and does not constitute legal advice. Please consult a lawyer about your specific situation.