Bitcoin After Death - The Will... - page 2.

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

Quote from: mobnepal on January 07, 2016, 10:19:34 AM

It will be real problem if i get died in near future. I haven't thought this before but i am yet to earn something significant amount of bitcoin so i will not make some will or something. But i will try to print paper wallet and give it to my family if i want to store big. I constantly cashed out my coin so this will not be a big problem.

Maybe get your private keys tattooed on your ass. Tell your loved one's there's a bitcoin gift on your butt. Nobody else is going to want to look there and steal your coins any way Cool

phreaky

hero member

Activity: 546

Merit: 500

Hmm I think for me I will just convert it to fiat money if I am old.
So that I can give to my children so that they can use it.
I doubt that I just can give my password for some one.

mobnepal

legendary

Activity: 1218

Merit: 1006

It will be real problem if i get died in near future. I haven't thought this before but i am yet to earn something significant amount of bitcoin so i will not make some will or something. But i will try to print paper wallet and give it to my family if i want to store big. I constantly cashed out my coin so this will not be a big problem.

thejaytiesto

legendary

Activity: 1358

Merit: 1014

Quote from: franky1 on January 06, 2016, 06:05:44 AM

Quote from: sebdude420 on January 06, 2016, 05:58:25 AM

What happens if i amass a fortune in bitcoins and i die. Who will guarantee my fortune is divided among those in my Will?

Who would you trust with your private keys?

obviously multisig it. where each inheritor only has 1 key.. that you give them today and the executor of the Will has a key also.
where only at the execution of the will, would all participants collectively combine the keys to send the funds out

You can't guarantee that one of the key holders will coerce the rest of the holders to give them to them because he happens to have more power/money than the others and whatnot. There will always be problems with inheritances, but this happens with fiat as well.

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

Quote from: sebdude420 on January 06, 2016, 05:58:25 AM

What happens if i amass a fortune in bitcoins and i die. Who will guarantee my fortune is divided among those in my Will?

Who would you trust with your private keys?

I'm not old enough to think about a will right now. Obviously if I die in a freak accident then that's just unlucky & most likely my bitcoin's will be lost/unrecoverable.

I've showed my girlfriend what to do & how to get access to my coins but she isn't really interested & probably wouldn't know what to do any way.

amacar2

legendary

Activity: 1120

Merit: 1008

CryptoTalk.Org - Get Paid for every Post!

Life is uncertain so i have already given my private keys in printed form to my family where i store most of the coins and my brother also have access to my online wallet. So there will be no problem if i leave this world. UFF no dying sounds so much scary Shocked

WhatTheGox

legendary

Activity: 812

Merit: 1000

Quote from: qWark on January 07, 2016, 06:30:24 AM

If you set up your will to give away your bitcoins it could happen.

But you would need a privet key set up for each person.

Probably be much better easier opitions in 5-10 years which the newbie can follow. Something to think about meantime is all the people who die and dont set up a proper bitcoin will would pump the price.

qWark

full member

Activity: 196

Merit: 100

If you set up your will to give away your bitcoins it could happen.

But you would need a privet key set up for each person.

WhatTheGox

legendary

Activity: 812

Merit: 1000

Quote from: sebdude420 on January 06, 2016, 05:58:25 AM

What happens if i amass a fortune in bitcoins and i die. Who will guarantee my fortune is divided among those in my Will?

Who would you trust with your private keys?

I have the mrs know how to access my bitcoin should i die. I will be more concerned about this as the price goes up but yeah its a great topic.

ObscureBean

legendary

Activity: 1148

Merit: 1000

Why not just create paper wallets or even just get your private keys on a regular usb stick and dump them in a safe deposit box? Or you can just tell the person you trust the most about it right now, why wait till you're dead to have a stranger explain it to her/him?

flagpara

full member

Activity: 756

Merit: 100

Quote from: 1Referee on January 06, 2016, 06:18:43 AM

I will never trust any one with my private keys, even not with multisig. My coins will remain unused in their wallets for ever if something happens with me. That's how I think about it right now. It might change when I become a father, then I will try to find a way to make sure at some point in the future my kids can access the coins.

I don't want to intrude in private matters but it should change the day you become a husband. So before you become a father. Important to think about what you'll let to your partner if anything shall happen to you.

sishendaoye

sr. member

Activity: 434

Merit: 250

If I ever get to that point where I own so many bitcoins, I will get myself a lawyer and set up contracts. That's the best way to go I think. Getting a lawyer is one of the best things to do to prevent issues within the family as to who gets what and how much.

NorrisK

legendary

Activity: 1946

Merit: 1007

Just introduce a family member to bitcoin and get them enthusiastic could also massively reduce the risk

Just tell them instructions on how to get access to the private keys and the first problem is solved.

Ofcourse, there is a slight risk of theft this way and hiding from the other inheritors.

Altcoinsupporter

sr. member

Activity: 364

Merit: 250

Well for now my family don't use bitcoin even I am going to give them I don't think they will know how to use it.
I think if I have children I will just teach them and give them i I die. I don't really care who to trust with my key I am dead after all.

Newcoins2020

sr. member

Activity: 406

Merit: 250

You could sign a legal contract which involves a lawyer and everything.
Getting a lawyer and setting all that up seems more of a legitimate way to go in this case.

yoona

sr. member

Activity: 493

Merit: 250

Live by your own rules

Quote from: sebdude420 on January 06, 2016, 05:58:25 AM

What happens if i amass a fortune in bitcoins and i die. Who will guarantee my fortune is divided among those in my Will?

Who would you trust with your private keys?

this is agood post, and of course, important for those who have bitcoin in large numbers, and they feel the need mewarsikan or entrust their bitcoin account, but I do not feel the need to do so at this time, because I still do not have enough bitcoin.

Duomo

hero member

Activity: 588

Merit: 500

☃

You need to write a legal contract and designate individuals who you want to give your private keys too. If you do have bitcoins, you should specifiy who you are leaving your bitcoins to. Don't treat bitcoin anything differently then leaving someone your house. Go to a lawyer, get a notarized document and state what will happen with your bitcoins. To lose bitcoins or not give them because you didn't properly maintain them is ridiculous.
*This will take effort on your part. Get ready for a legal battle among your surviving kin if you don't designate who and what you are giving to them.
Not something to think about after dying and that your family is fighting for all your belongings.

Ps. you could just write I am leaving "this" property to "this individual. But you really should have something officially written up so it official and can't be argued in court by the individuals who you wish to leave no property to.

*Place this in a safety deposit box and make sure you safely store it. A written contract by a lawyer is not arguable in court. You write a contract and sign the terms, you have to abide by the terms legally on what you signed on. No lawyer would ever try to argue a contract that was signed legally and consciously.

Cs87kxy

full member

Activity: 185

Merit: 100

https://BoostCrypto.com - Earn 250% in 200 Hours

Quote from: sebdude420 on January 06, 2016, 05:58:25 AM

What happens if i amass a fortune in bitcoins and i die. Who will guarantee my fortune is divided among those in my Will?

Who would you trust with your private keys?

You could explain to your family (parents / brother) or your wife how redeem your btc in case of death, maybe with a sort of message that they can open only when you leave earth.

If there was more trusted site for saving btc I think you could easily store your funds there and then give only the access, all problem are solved.

Moneyburner

member

Activity: 112

Merit: 10

The easiest way would have to be writing out exactly what to do in the will. Where your private key / passwords are.

Or if close to death just tell someone what to do or give them access to your wallet.

coinzat

sr. member

Activity: 434

Merit: 250

Young but I'm not that bold

If you did not give your private keys to anyone, these bitcoin will be gone forever. That is why I told my brother where I stored my priv keys and I taught him how could he spend them.

Topic: Bitcoin After Death - The Will... - page 2. (Read 2685 times)