A good man/woman leaves an inheritance - page 3.

JayTrain

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Quote from: Davidvictorson on September 11, 2021, 09:01:04 AM

An old proverb says “A good man/woman leaves an inheritance to his children's children…”. Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will. In most cases, the beneficiaries include may their spouse(s)/civil partner, child or children and grandchildren. In other cases, their brothers and sisters, parents or parent, nephews and nieces, favorite charity organization and state (where there is no relative) get to be the beneficiaries.

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

of course, any parent here wants the best for their children, including me, so I would leave my wallets first of all to my family and friends, these are children, brothers, sisters, and it would be right, this is how everyone traditionally dedicates, but it's better not to think about the bad.

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Quote from: Davidvictorson on September 11, 2021, 09:01:04 AM

An old proverb says “A good man/woman leaves an inheritance to his children's children…”. Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will. In most cases, the beneficiaries include may their spouse(s)/civil partner, child or children and grandchildren. In other cases, their brothers and sisters, parents or parent, nephews and nieces, favorite charity organization and state (where there is no relative) get to be the beneficiaries.

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

bitcoin or any other cryptocurrency that I have is a valuable legacy for my children in the future...

all parents must have thought of good things for their children's future and I see cryptocurrency has become a very good valuable asset for inheritance other than property, savings or gold. in the future, this will definitely be a trend.

Shagnasty

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Such a thing should probably be a management body for the management of cryptocurrency asset inheritance. Because right now we can't trust each other. Cryptocurrencies need to grow even longer to make it all. Wallet access is also a sensitive thing we have to keep it private. What happens if it leaks even to our own families?

mich

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When it comes to inheriting bitcoin, I wouldn’t be surprised if harsher federal taxes were instated someday.
It’s important to note that leaving so much wealth to your children can raise new problems for them.
For this reasons alone I think there is a growing trend of wealthy parents choosing not to leave their money to their children.

AakZaki

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The legacy that will be left if you have a lot of digital assets is of course a digital phrase to a personal wallet. But security is also an important thing that must be considered. The phrase must be stored properly and should not be dropped or owned by someone other than the owner of the inheritance rights.
Inheritance in the form of digital assets will be very valuable in the future, this will be equivalent to inheritance in the form of land and a house.
If you really want to pass on digital assets, use a time capsul to store phrases so that they are safe and there is no damage to the phrases written on a paper. many methods can be used.

Sayeds56

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Quote from: Zilon on December 16, 2021, 03:51:45 PM

Since assets has become more digital than physical it's still not adviced to let your close relative know your seed phrase while you are still alive there are ways of disclosing this in a way that will safeguard the interest of both your loved once and yourself. One tactics is to safe your seedphrase where only you can access while alive but where your most trusted relative can access after your demise and never disclose where your seed phrase is saved but it should be where your close ones can access

Its true that rapid technological development is converting all assets from physical to digital which is very good for traceability and eliminate corruption and I think it is quite good idea to let your child to know your passwords and seed phrase who is responsible, honest and knows how to use crypto currency to generate income. When you are in old age and suffering from chorionic diseases then it becomes more important to disclose it to your family member to whom your trust so that your family can take benefit of your inheritance.

TelolettOm

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This is exactly so many people are thinking in the world, leaving their children in goo prosperity, poverty, and also inheritance.
They don't want their children will face any difficulties in the future, moreover because we don't know what will be faced by the children.
However for me, I will of course leave them inheritance, but not because of worrying them in the future.
I will leave inheritance not only in the poverty or money, but also how the children can really utilize the inheritance, both money nonpoverty, knowledge, choices, and others.
I believe in my children, I jus want to prepare them with all thing that I have right now, in order to make them responsible of their life, but by not leaving them alone. I will support them emotionally, socially, knowledge, and also financial to prepare them responsible and also available to face every condition in the future.

nurilham

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It is true that a good person must leave a legacy but in this case as crypto enthusiasts we must be able to choose the right person to receive it. I mean accepting crypto or other assets is not an easy thing, we have to be able to use and make good use of it. So it's good that we can start preparing the closest or trusted people to learn about the crypto world so that in the future it can be put to good use. Of course, we all hope that crypto will continue to grow in the future so that we can also use it well in the future.

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Quote from: Davidvictorson on September 11, 2021, 09:01:04 AM

An old proverb says “A good man/woman leaves an inheritance to his children's children…”. Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will. In most cases, the beneficiaries include may their spouse(s)/civil partner, child or children and grandchildren. In other cases, their brothers and sisters, parents or parent, nephews and nieces, favorite charity organization and state (where there is no relative) get to be the beneficiaries.

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

I find the very concept of inheritance revolting, to be honest. There needs to be a cap on how much you can give your children/their children and the rest should go to the government as taxes. IF we had a capped system we would not have so many unecessary Trillionaires/Billionaires like the Rothshilds screwing up the global economy on their own whims and private amusements.

Zilon

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Since assets has become more digital than physical it's still not adviced to let your close relative know your seed phrase while you are still alive there are ways of disclosing this in a way that will safeguard the interest of both your loved once and yourself. One tactics is to safe your seedphrase where only you can access while alive but where your most trusted relative can access after your demise and never disclose where your seed phrase is saved but it should be where your close ones can access

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Quote from: Smartvirus on December 15, 2021, 03:19:24 PM

Cryptocurrency goes beyond an a currency as an asset and even currencies are willed so, Cryptos shouldn't be any different. It is ethically true to say that, your private key and seed phrase stays private but, I doubt it does any good if, it doesn't get to be transferred to someone else or put in any useful form even when your gone. Hence, I think there would come a point in time, when you would just have to put some things in place, to ensure that your coin could be inherited.

If you want to get your holdings in your grave then don't give your seed phrase to any other relative Cheesy

.
Kidding aside though, its true that you and only you must be the one who knows the seed phrase but at least pick one person or relative that you trust with so much and share the phrase to him/her so that if worst thing comes like accidents then somebody can still have access to your wallet.

TBH, I'm always thinking whenever I go to sleep who will I give the seed phrase when my time comes. I mean I might pick somebody that I fully trust with so that everything is ready when the worst thing comes. I'm also ready whenever he/she steals my money Cheesy

.

NelfiNovita

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Quote from: Davidvictorson on September 11, 2021, 09:01:04 AM

An old proverb says “A good man/woman leaves an inheritance to his children's children…”. Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will. In most cases, the beneficiaries include may their spouse(s)/civil partner, child or children and grandchildren. In other cases, their brothers and sisters, parents or parent, nephews and nieces, favorite charity organization and state (where there is no relative) get to be the beneficiaries.

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

As a crypto holder I will also be leaving some of the Bitcoins and Altcoins I currently have. I already told my wife about the private key of my bitcoin wallet. I believe the Bitcoin and Altcoin that I left behind can make the lives of my wife and children happy in the future. In addition, I also provided land and house facilities that I gave to my wife so that my wife would not have trouble finding a place to live.

glendall

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I think the will that I will give is not in the form of passwords and prashes, but in the form of real assets that will make it easier for my grandchildren in the future, because we don't know how long crypto will exist, not that I don't believe in crypto in the future, but to minimize the risk of loss if i died
and my son doesn't understand what crypto is

noormcs5

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Quote from: Davidvictorson on September 11, 2021, 09:01:04 AM

An old proverb says “A good man/woman leaves an inheritance to his children's children…”. Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will. In most cases, the beneficiaries include may their spouse(s)/civil partner, child or children and grandchildren. In other cases, their brothers and sisters, parents or parent, nephews and nieces, favorite charity organization and state (where there is no relative) get to be the beneficiaries.

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

Sensible people will still trust and give their crypto access to their family members before they die but there will be many people who won't do it and all the money stored in crypto will be useless once they die.
Currencies like bitcoin which are limited in supply, will continue to decrease as we will see a lot of bitcoins being lost with the death of the humans.

Alisha FR

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it is impossible to keep the secret of the phrase to access crypto. this is an asset where our children and wife will use the amount of money that is in crypto to survive. we are really cruel if we don't give them the keys to access our assets. I think that phrase will be the next inheritance for children and families as inheritance.

Wawa2013

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Quote from: Kakmakr on December 16, 2021, 06:32:12 AM

I think the best "inheritance" to your family and friends will be the "Crypto" knowledge that you leave behind. If that knowledge can equip them to make a decent living or to earn passive income.... then I should think it must be a better "inheritance" than simply throwing money into their lap for free.

Now this can be in the form of funding for a "Crypto" course or books on the subject or even just tips and tricks to boost their knowledge so that they can earn money.

Another saying says.... “If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime.” Wink

If we give a inheritance of crypto to our families, it will only help our families in a short time. Because they might spend it on something
consumptive, because there have been many cases of children receiving inheritance from their parents. But in just a few months the inheritance
was gone. I agree with your thinking, the best inheritance is knowledge. We teach our families how to make money from crypto, it is more effective
than giving crypto in large quantities. That's why I started slowly teaching crypto to my wife and children from now on, so that when I die and
the inheritance I gave them runs out. My wife and children can still have money, because they already know how to make money from crypto.
Such inheritance should be passed down from generation to generation.

Kakmakr

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I think the best "inheritance" to your family and friends will be the "Crypto" knowledge that you leave behind. If that knowledge can equip them to make a decent living or to earn passive income.... then I should think it must be a better "inheritance" than simply throwing money into their lap for free.

Now this can be in the form of funding for a "Crypto" course or books on the subject or even just tips and tricks to boost their knowledge so that they can earn money.

Another saying says.... “If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime.” Wink

Hamphser

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Quote from: carlfebz2 on December 15, 2021, 03:40:14 PM

Quote from: Smartvirus on December 15, 2021, 03:19:24 PM

Cryptocurrency goes beyond an a currency as an asset and even currencies are willed so, Cryptos shouldn't be any different. It is ethically true to say that, your private key and seed phrase stays private but, I doubt it does any good if, it doesn't get to be transferred to someone else or put in any useful form even when your gone. Hence, I think there would come a point in time, when you would just have to put some things in place, to ensure that your coin could be inherited.

If you are a kind of person who is selfish and doesnt mind about your family or something talks about inheritance then you wouldnt tend to share up those

keys on the beginning but instead you would keep it for yourself but most people wont do such thing yet it would be such a waste if those coins wont really

be benefited out by your loved ones. On where you do all these things for? Of course it would be because of them which its just normal for you
to do such thing.

Sad to say but there are people who are like this on which they dont mind about inheritance and would keep those riches for themselves which is really the sad truth.

Inheritance is something that you have worked for and it would be useless if it would just come to waste because you havent share it off when you are still alive.better mind off while its still early because we dont know on when we die.No one can tell thats why its better to ensure it while you are still living.

Luke Briggs

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Now that cryptocurrencies are becoming more and more popular, you can tell someone you trust to say your password. We don't know which one will arrive first tomorrow or unexpected. Our money will be left to our children or to some important people. You can prepare your will first to prevent accidents and losses.

Accardo

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It's better to will the funds to some other person a relative or spouse that knows about bitcoin because a newbie in this niche may not understand that they need to hodl the coin or invest it back to make more money that will enable them to buy more bitcoins.

Although, they are a lot of bitcoin wallet filled with funds that cannot be accessed because the owners don't exist anymore. It's just a lost to the world and to the market as well. The idea is good when you have a learned lawyer.

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