Topic: A good man/woman leaves an inheritance - page 6. (Read 909 times)

While it is really nice to leave some inheritance to your spouse, children, or relatives, it should be remembered that this is a privilege because not everyone has extra assets to leave their loved ones behind once they die. Some are even barely surviving their daily lives and are just making their ends meet. It's good if you can secure an inheritance to those people who are close to you because this can serve as their advantage in facing and surviving this harsh world. Money is a necessity and so is any property or asset that can be converted, sold, or traded. And if you don't have anything to leave them behind, it's still okay because not everyone can afford to have extra like other people. It's nothing to feel bad about as long as you gave them good memories and of course you didn't give them any more burdens once you're gone such as loans and stuff.

Personally speaking, I invested in crypto as early as before up until now to secure the future of my future children and the family of my own. Of course, I don't want them to feel the hardships I went through just to arrive at where I am today. I want them to have a safety net that can catch them whenever things don't go in their favor. It makes me calm and I feel at peace to think that my loved ones will have the best life they could ever have because I left a legacy that they can start and survive with. Aside from crypto investment inheritance, of course, one of the greatest legacies I could ever leave my loved ones will be the love and good memories that I cherished with them. So are the valuable teachings that could get them somewhere far and in a good place in life.

The question is whether what you are planning will match the reality in the future and this topic has circulated several times and differs only by a few words but the purpose is the same.
and I will state differently than before, I choose to take profits when the price reaches the highest price and buy several lots of land, houses and so on for my children's inheritance, and after that I will give lessons about bitcoin or crypto in detail and the best way to get a nice profit like the results I did for them later.
and I prefer to leave the best lessons for them as my next generation in the crypto world, and if they don't understand using it or knowledge about crypto whether the heirs can do well, and after that whether the potential heirs can continue like me as a crypto user the good one.

have to think further and once you give the private key to the heirs and your ownership will just disappear, without having to think about how the heirs can develop and continue your trail.

Yes, the same thing. First and foremost, I will inform my future wife about what I'm doing, which is crypto, so that if the time comes, he can make use of it. Your wife is your most trusted person in the world; you married her and raised a family, so it's natural to trust and give her those things; just make sure she knows it. To secure your child's future, make a note of how basic cryptocurrency functions, such as creating and accessing wallets.

If you do have children the you do have a wife, then why you cant just trust up your wife when it comes to your crypto holdings? Yes, i do really understand because even myself cant really just trust up my wife. 

When it comes to inheritance matter then this is something personal kind of choice on but some people tending to list it on a paper with instructions and some do consider about some will and some to consider

about those time-lock kind of emails or something like that.It is just right on leaving your riches because no one knows on when we do pass out.

I relation to inheritance, yeah, my area is also one of those who always leave something to children, leave an inheritance for their children to prepare before death. However actually, inheritance is not only about money, wealth, or property, but many things, including knowledge.
And about inheritance in the crypto world, Some exchanges may have inheritance features and we can utilize this.
Actually, I am only sharing that personal data, like phrases, private keys, and other personal data with my couple. I believe that we can utilize what we have right now, for our children (and more children later  )
I know that many people will say never to tell private keys and other personal data to others. But, I have a couple who have been in my life, with my children and also have known about the crypto world, so we manage it together.
And of course, we can have certain ways in order to prepare if we die someday, preparing and leaving them for our children.

It would be nice if that prized possession is handed over someone who has actual knowledge, I guess it would be better to let them inherit your prized possession in the perfect time, while we may not know how long we'll still be here but giving our future (children) the right amount of knowledge about cryptocurrency and Bitcoin in general is enough for these kids to actually start investing, just imagine how they'll be making good use of the prized possession you just gave.

We all have different choices to take. And i agree with what you chose. If you have your family that can be trusted about securing your private keys, then why not? You don't have to keep it alone. Its better if you can secure it and be able to let them know about the whole thing of crypto so they can also prepare for it and might continue with what you're doing while you are already off.

The main thing here is how you will be able to reach them about their inheritance and its good to know that they are much aware on that while you are still here living in the crypto world.

That is not a big deal, because you can inherite any forms of human properties if the privilege is been giving to you before departure, so bitcoin is an inheritance as investment or as legal tender also, and it's obvious that you will inherite what you know it's functions, because in terms of bitcoin, before you inherite it you most be acquainted with it's policy and also have the phrase code of the users wallet before you can as well accessed it, i can say bitcoin is good investment and best inheritance if you are left behind for your lovely onces.

If someone already has a family and he wants to donate them their crypto assets, it is best to do so while he lives. My family already knows the codes, whether it is the wallet codes or the ATM pins - no point hiding important details from your wife and kids, right?

I can understand that the case might be different from person to person - but still I would much rather disclose the details upfront rather than write a list of instructions for a lawyer to read out while am off!

basically giving inheritance is important and must be given to people who can really be trusted. especially if we talk about bitcoin where if an inheritance in the form of bitcoin is given to someone it will be very influential. if you can manage it well then of course it will be profitable, but what is fear is if it can't be managed properly and eventually it will be lost with a loss. even though we know that the development of bitcoin in the future will be even better. so stay careful even with the closest people though.

Knowledge and wisdom is the best thing you could leave behind to your children once we're no longer alive but of course, if you have any asset either tangible or intangible it would be great if someone related to us would benefit from it. Maybe some people consider this type of inheritance but not all people want this and still prefer properties over crypto assets.

Definitely! The problem with leaving cryptocurrencies behind is that it requires some sort of password in order to access the cryptocurrencies that you have. In the event that a person suddenly dies, all of those cryptocurrencies would be stuck in those wallets forever without any hope of recovering them (unless you know the password).

While we are in this topic, I wonder how many wallets right now are locked with hundreds to thousands of cryptocurrencies inside as their owners have died or left them behind? I do hope that there is some hope of recovering those said wallets given the technological advancement in our day and age.

This. Even though most of the stuffs now are all in technology, it's still likely to have an issues on how those who will inherit your funds use it or at least even move it around wallet to wallet.
Unless that custodial wallet is used, which is unsecured, people having to interact with your fund would still need to learn about how technological terms like "private key", "wallet seeds" and stuffs mean what they're for.

I think as long as you put some understandable instructions and the people you gonna give your crypto assets are computer literate, there is no need to worry about it. nowadays there are lots of instructions you can add to your last testament to further give them easy access to your crypto assets.

Maybe if you can give them instruction right now, or some kind of basic understanding about crypto, you won't have any doubt that they will gonna get it after you passed away.

Kindly strike that out in your next argument or write-up. That a parent doesn't leave an inheritance for their children doesn't in any way mean that they're bad. We can only give what we have. Those who die paupers won't have any material thing to give than their personality any integrity. That's if they were forthright before their demise.

How come people don't like doing that for a man who dies leaving a pile of debts to be cleared? Those who gather to share inheritance should also learn how to gather to offset debts too. Regrettably though, people are after what they stand to gain even at the detriment of someone. The deceased may not be in talking terms with those acclaimed relatives of theirs while alive. But once they die these relatives suddenly come around to lay hold on deceased's property. Little wonder they say that failure is a bastard. No one wants to associate with paying off debts but they all want the inheritance.

And to your last paragraph, yes I won't hesitate to keep my seed phrase as my inheritance.

Not every good woman/man has the privilege to leave inheritance, not everyone can afford a lawyer to officiate or create the inheritance. Some are living in a livable wage that unironically only lasts for about half a month.

It's would be very difficult to will a wallet seeds generation since it's not like a physical things one could torch and use. Bitcoin is an asset and not just an asset, it's a digital current which is likely abstract making it more difficult to will out to next generation. Moreover no one knows when he or she is gonna die which can be impromptu without any preparation or awareness and the wallet seeds becoming useless because no one might have access to it since people do not disclose their wallet seeds to family not even children.

Since I already have children, it is certain that all the Bitcoins I own will be passed on to my children. Therefore all the money and all the assets that
I have, including the Bitcoin that I own will be inherited. Before I died, so from now on I have told people I trust where I keep my private keys.
As you said, we never know when we will die, so I have prepared everything from now on.

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?

Before death, everyone will tell their own money to their children, or when the children are sensible, they will give some important things to the children to save.
Your own money and private key can tell people you trust. We cannot predict which of tomorrow or death will happen first. We can only prepare. Arrange your own affairs before death.