You could use the multi-signature transaction (M-of-N) of the armory wallet. Split you wallet into three parts. You keep one, and give two to two other people you trust (parent / partner etc). If you die you only need two of the parts of the three to get access to your funds.
https://bitcoinarmory.com/about/faqs/
Topic: Anyone else have a E-Will (encrypted doc with btc keys) prepared? (Read 1268 times)
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December 20, 2013, 05:44:05 AM
A will to be legally binding needs to be done with a lawyer, but it's a good idea to have a back-up plan for your coins if you die.
Yeah I know a lawyer needs to do it, what I meant was I would want a "dry-run" with that lawyer so he understand every step and make sure all the passwords worked etc.
Definitely an area for specialisation in the future.
December 20, 2013, 05:38:12 AM
A will to be legally binding needs to be done with a lawyer, but it's a good idea to have a back-up plan for your coins if you die.
December 20, 2013, 05:25:24 AM
I'd love to do it but I'd want it properly "audited" (if that is the right word) first by a lawyer, to make sure the coins were really accessible. The more layers of encryption and passwords you add on top, the more chance of "something going wrong" and your legacy ending up inaccessible. Its not really something you want to be worrying about before you pass.
Certainly a big service idea for the future though.
Certainly a big service idea for the future though.
December 20, 2013, 04:47:50 AM
I already thought about this, too (although my few coins aren't worth that much yet). While I didn't do it yet, maybe in the future - my plan is to create a file like yours describing everything (including encryption passwords to my password safe / backup drives / Bitcoin wallets) and encrypt it to a randomly generated (thus hopefully very strong) passphrase (possibly with two or three layers with different algorithms). I would distribute this (encrypted) file to some trusted persons (wife, other close family members and so on), as well as a copy in my safety deposit box. Finally, I would employ N-of-M key splitting on the encryption key and also distribute the pieces, so that at least some of them need to collaborate in order to read the document.
December 20, 2013, 03:55:11 AM
Mr. Bardi Harborow it’s great to hear that you have not only accumulated large wealth but in fact you are also willing to transfer it in case of your death. For sure I wish for a long and happy life of yours after all you are a generous man who has decided to pass on instead of using entire wealth upon yourself. Well I am new to bitcoin so kindly give me details about how it works
December 20, 2013, 02:33:17 AM
I'm wondering, does anyone else have something like this prepared?
Quote
================== Digital Will/Important Information ==================
My name is Bardi Harborow. This is an if_i_die.txt. It contains important
Information that should be passed on to my next of kin upon my death.
It is also a place to store my Bitcoin cold wallet details. =)
This file will be AES-256 encrypted with a shared password.
It will also be PGP signed.
=== LastPass ===
Details for all my accounts on various services are contained on my LastPass
account. Below are the details. If LastPass is no longer around, I'm putting
an encrypted backup (named "lastpassbackup.csv.aes") of my stuff with this.
Email:
Password:
Backup Password:
Ensure the checksums match the below. The fact that it decrypts with the
password should be enough, but better to be safe than sorry (me = paranoid).
Backup SHA1:
Backup SHA256:
Backup SHA3:
Backup MD5:
Backup Whirlpool:
=== Bitcoin ===
Bitcoin is a decentralised peer-to-peer currency. I won't go in to great detail
here (Google it!). Here are my cold wallet private keys. Hopefully, by the time
You read this Bitcoin will be worth $1000000 and you will be a millionaire. =)
Base58Check:
Base58:
Hex:
Bitcoin Address:
=== End ===
File Last Updated: 20th December 2013 (Georgian Calendar)
My name is Bardi Harborow. This is an if_i_die.txt. It contains important
Information that should be passed on to my next of kin upon my death.
It is also a place to store my Bitcoin cold wallet details. =)
This file will be AES-256 encrypted with a shared password.
It will also be PGP signed.
=== LastPass ===
Details for all my accounts on various services are contained on my LastPass
account. Below are the details. If LastPass is no longer around, I'm putting
an encrypted backup (named "lastpassbackup.csv.aes") of my stuff with this.
Email:
Password:
Backup Password:
Ensure the checksums match the below. The fact that it decrypts with the
password should be enough, but better to be safe than sorry (me = paranoid).
Backup SHA1:
Backup SHA256:
Backup SHA3:
Backup MD5:
Backup Whirlpool:
=== Bitcoin ===
Bitcoin is a decentralised peer-to-peer currency. I won't go in to great detail
here (Google it!). Here are my cold wallet private keys. Hopefully, by the time
You read this Bitcoin will be worth $1000000 and you will be a millionaire. =)
Base58Check:
Base58:
Hex:
Bitcoin Address:
=== End ===
File Last Updated: 20th December 2013 (Georgian Calendar)
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