Bitcoin Custody Document What to Include
Essential Elements of Custody Documentation
This memo is published by CustodyStress, an independent Bitcoin custody stress test that produces reference documents for individuals, families, and professionals.
Core Identification Information
Creating custody documentation involves deciding what to include. A bitcoin custody document spans many potential categories of information, and different purposes call for different inclusions. Understanding what belongs in custody documentation—and what might be better placed elsewhere or excluded entirely—helps holders create documentation that serves its purpose without becoming unwieldy or dangerous.
No single document serves all purposes. What to include in any specific document depends on who will use it, under what circumstances, and what they need to accomplish. The question of what to include requires understanding the document's intended function.
Core Identification Information
Documentation identifies what bitcoin exists and how custody is structured. This identification layer provides the foundation for everything else.
Inventory of holdings lists what bitcoin is held. This may be general (amount and approximate value) or specific (wallet addresses, transaction histories). The level of detail depends on purpose—estate planning might need approximate value while technical recovery might need address-level specificity.
Custody type identifies whether bitcoin is self-custody, exchange-held, or some hybrid. Each type has different implications for access, recovery, and inheritance. Someone using the documentation needs to know what kind of custody they are dealing with.
Wallet identification describes the specific wallet or wallets used. Brand and model of hardware wallet, name and version of software wallet, configuration characteristics—these details enable someone to understand what they are working with.
Date information helps establish currency. When was the documentation created? When was it last updated? This temporal information helps users assess whether documentation may be outdated.
Location Information
Documentation of where custody materials are stored enables finding them. Location information may be the most immediately practical content in custody documentation.
Physical material locations describe where hardware wallets, seed phrase backups, and related physical items are stored. Addresses, room descriptions, specific containers—whatever enables finding the items.
Digital storage locations identify where digital files, account information, or other electronic materials live. Accounts, devices, file paths—the digital equivalent of physical location descriptions.
Backup locations document redundant copies. If multiple backups exist in multiple locations, all locations need documentation. Knowing the primary location helps; knowing backup locations provides resilience.
Access location information may be separate. The physical location of a safe differs from the combination to open it. Location documentation may include or exclude access credentials depending on security considerations.
Access Credentials
Access credentials enable actually using located materials. This category carries the highest sensitivity and warrants the most careful consideration about inclusion.
Seed phrases or references to them enable wallet recovery. The seed phrase itself is the ultimate access credential for self-custody bitcoin. Including it in documentation creates power and risk in equal measure.
Passphrases if used add a layer of protection—and a layer of access requirement. Documentation must indicate whether a passphrase exists and, if so, either include it or point to where it can be found.
PINs and passwords for devices, software, and accounts enable access at various points. Hardware wallet PINs, software passwords, exchange account credentials—each may be needed for different access scenarios.
Multi-factor authentication recovery enables accessing accounts with additional security layers. Backup codes, recovery keys, or other 2FA bypass mechanisms may need documentation if they would otherwise become blocking factors.
Technical Configuration
Technical details that affect how recovery works belong in documentation used for that purpose. This information serves technically capable users attempting actual recovery.
Derivation paths specify how addresses are generated from seeds. Non-standard derivation paths require documentation because recovery software may not find funds without the correct path.
Script types indicate the address format used. Different script types produce different addresses from the same seed. Knowing which script type applies enables correct recovery.
Multisig configuration describes multi-party setups. Which keys are involved? What threshold is required? What is the wallet descriptor? Multisig recovery requires this configuration information beyond individual keys.
Software and version information documents what software was used and at what version. Software changes may affect compatibility; knowing what was used originally helps troubleshoot recovery issues.
Procedural Instructions
Documentation may include instructions for how to accomplish specific tasks. Procedural content guides action beyond simply providing information.
Recovery procedures explain how to restore access using documented materials. Step-by-step instructions that a non-expert can follow enable recovery by people who would not know how to proceed without guidance.
Transaction procedures explain how to move bitcoin once access is established. For someone who has never sent bitcoin, instructions for initiating and confirming transactions provide necessary guidance.
Emergency procedures address specific urgent scenarios. What to do if a security breach is suspected? How to secure funds quickly if needed? Emergency procedures anticipate crisis situations that normal procedures do not address.
Troubleshooting guidance helps when things do not work as expected. What if recovery produces different addresses? What if the device does not respond? Anticipating problems and providing guidance for them helps users navigate difficulties.
Contact Information
People who can help represent a resource documentation can provide. Contact information connects documentation users to human assistance.
Key holder contacts enable reaching parties involved in multi-party custody. Who holds other keys? How can they be reached? This information enables the coordination that multi-party recovery requires.
Professional advisor contacts identify people who can help. Attorneys, accountants, technical advisors—whoever knows about the bitcoin situation and can provide assistance.
Service provider contacts enable reaching relevant companies. Exchanges, custody services, wallet providers—their support contacts may be needed for various issues.
Emergency contacts designate who to reach in crisis. This may overlap with other categories but serves a distinct function—identifying who can help immediately when urgency matters.
Supporting Documentation References
Custody documentation may reference other documents rather than duplicating their content. Understanding what other documentation exists and where to find it constitutes inclusion by reference.
Legal document references point to wills, trusts, powers of attorney, and other legal instruments relevant to bitcoin custody. The custody documentation notes that these exist and where they can be found without reproducing their content.
Tax documentation references indicate where transaction records, cost basis records, and tax returns are maintained. These records may be needed for estate administration even though they are not custody documentation proper.
Account documentation references point to records of exchange accounts, service relationships, and other financial accounts related to bitcoin holdings. These may be maintained separately but need referencing for complete picture.
What to Exclude
Not everything belongs in custody documentation. Some information is better placed elsewhere; some is better excluded entirely.
Highly sensitive credentials may warrant separation. Putting the seed phrase in the same document that explains where that document is stored creates a single point of failure. Separating the most sensitive credentials from other documentation adds a layer of security.
Information that changes frequently may not belong in static documentation. If something changes monthly, including it means monthly updates—or perpetually outdated documentation. Frequently changing information may work better in separate, easily updated references.
Excessive technical detail that users do not need clutters documentation. Full blockchain analysis, historical transaction narratives, or deep technical explanations may not serve the document's users. Include what serves the purpose; exclude what does not.
Information already available elsewhere may not need duplication. If the holder's attorney already has the will, the custody documentation need not include the will's full text—a reference suffices. Duplication creates synchronization problems and bulk without benefit.
Audience Considerations
Who will use the documentation shapes what it includes. Different audiences need different information presented differently.
Non-technical family members need explanations that technical users do not. Documentation for a technically sophisticated child differs from documentation for an elderly parent who has never used bitcoin. Audience capability affects both what to include and how to present it.
Professionals need specific information relevant to their role. An attorney needs legal-relevant information; a technical consultant needs technical details. Professional-facing documentation can assume different knowledge and serve different functions.
Emergency users need rapid access to critical information. Documentation used in crisis must surface essential information quickly. Lengthy explanations that help in leisurely review may hinder someone who needs to act immediately.
Multiple audiences may require multiple documents. Rather than one document trying to serve everyone, separate documents tailored to different users may work better. The holder then maintains multiple documents—more work, but better fit to purpose.
Summary
Understanding what bitcoin custody documentation includes requires considering categories of information: core identification (inventory, custody type, wallet identification), location information (physical, digital, backup), access credentials (seed phrases, passphrases, PINs), technical configuration (derivation paths, script types, multisig details), procedural instructions (recovery, transactions, emergency), contact information (key holders, advisors, services), and supporting documentation references.
What to exclude matters as much as what to include. Highly sensitive credentials may warrant separation. Frequently changing information, excessive technical detail, and duplicated content may be better handled elsewhere or omitted entirely.
Audience considerations shape content decisions. Non-technical family members, professionals, and emergency users have different needs. Multiple documents tailored to different audiences may serve better than single documents attempting to serve everyone. The question of what to include ultimately depends on who will use the documentation and what they need to accomplish.
System Context
Examining Bitcoin Custody Under Stress
Bitcoin Location and Access Document
Bitcoin Subpoena Compliance Documentation Gaps
For anyone who holds Bitcoin — on an exchange, in a wallet, through a service, or in self-custody — and wants to know what happens to it if something happens to them.
Start Bitcoin Custody Stress Test$179 · 12-month access · Unlimited assessments
A structured, scenario-based diagnostic that produces reference documents for your spouse, executor, or attorney — no accounts connected, no keys shared.
Sample what the assessment produces