You can write your will and write on it all your passwords and private keys. Give it to your lawyer and he will pass it to your relatives when something happens to you. This is the easiest and safest way.
Or just give your private keys to your brother if you trust him enough.
Topic: Bitcoin/alts in your will (?) - page 2. (Read 480 times)
Do people here have a plan to 'will' their cryptos to their families?
I do and if you know Hal Finney he did this thing, you can read his story here. https://bitcointalksearch.org/topic/bitcoin-and-me-hal-finney-155054 Almost identical situation you gave on what he went through with, even I didn't catch him up - he's a legend.Do others have access to your crypto stash?
I have taught my relatives about crypto but I'm not giving them any access for it now. What I did was teaching them step by step on what procedure they have to do. They must understand the whole thing before getting to that point of doing something before unexpected things might come. 
I'm younger than the author, but I thought about it myself. For this I did not invent anything too abstruse, but simply informed all my wallets and passwords to my beloved bride. So if, God forbid, something happens, she knows how to access my crypto accounts.
I think it is better to teach them as well how crypto works. Even they know passwords, keys and other important details where you store it, they can process it on their own. They also need knowledge about cryptocurrency so that altcoins cannot be buried on your account and just forget it.
sometimes I also think of you as the relationship between our death and bitcoin in the storage wallet, and after a long time I think I decided to save my important data such as email, paswod and private key in the notebook, so that if I die they can using and asking my friend who knows about bitcoin, that's my way.
Is a good topic and I haven't ever taught of that. If I don't will my altcoins now I might end up in grave with it. But the problem is what if the one you will to don't have knowledge in crypto currency
You should learn him/her or your wealth will be lost forever. You can also write an instruction in your will.
My parents told me few month ago "Hey, son! We know you are in cryptos. Its very interesting. Can we take a part? Here is money - buy some of it for us". So i'm personal trader of my parents and have access to their wallet)
I haven't quite thought about something like this. Maybe it's because my investments in BTC are not significant yet. It is a valid point you have raised however. I think one should make their wallet keys and other account access info secretly bailable to someone very trusted. I know it's hard to trust people but you just have to trust someone.
Is a good topic and I haven't ever taught of that. If I don't will my altcoins now I might end up in grave with it. But the problem is what if the one you will to don't have knowledge in crypto currency
You'll also need the info for all of the exchanges that you have an account on. (If you have anything there...) Your phone still needs to be active as well for 2FA.......hope no one wipes out that SIM card!
Exchanges will be long gone, there is a better method to storing your coins. It's just storing them on a simple computer.
You'll also need the info for all of the exchanges that you have an account on. (If you have anything there...) Your phone still needs to be active as well for 2FA.......hope no one wipes out that SIM card!
I was thinking the other day that if something happened to me and I was unable to speak or was in a coma, some of my BTC and 'alts' may be locked up forever...?
My brother is into cryptos, so he may be able to get into my Ledger Nano S w/the 24 word private key (which he would need to find), but there are other wallets w/pass phrases and keys to get into. He would need to search around for them on my PC, laptop, external HD, thumbdrive.... And if I placed a password to access them in a file, he would never get in...
Do people here have a plan to 'will' their cryptos to their families? If your parents, brother, sister, etc.. are not technically inclined or do not know anything about BTC, are they even going to gain access to them? (If they even know you have them...)
Accidents happen and you really never know what is going to happen to you each and every day. (I'm >50 and can have a heart attack!) Well actually I'm in decent shape b/c I'm a cyclist. That being said, I can have a cycling related accident... (both road and mtb for those interested)
I'll probably end up producing a paper list to give to my brother. It's not really safe to have electronic copies of passwords/private keys lying around and on a PC that you connect on-line...
Ideas? Do others have access to your crypto stash?
Go to the lawyer and ask about it. Also you must leave your password and username in your will so that they can accessed your account and encash your coins. Put everything in safe place with the person whom you trusted. Having a will will make your investements worthy when you die because your beneficiaries can use them. My brother is into cryptos, so he may be able to get into my Ledger Nano S w/the 24 word private key (which he would need to find), but there are other wallets w/pass phrases and keys to get into. He would need to search around for them on my PC, laptop, external HD, thumbdrive.... And if I placed a password to access them in a file, he would never get in...
Do people here have a plan to 'will' their cryptos to their families? If your parents, brother, sister, etc.. are not technically inclined or do not know anything about BTC, are they even going to gain access to them? (If they even know you have them...)
Accidents happen and you really never know what is going to happen to you each and every day. (I'm >50 and can have a heart attack!) Well actually I'm in decent shape b/c I'm a cyclist. That being said, I can have a cycling related accident... (both road and mtb for those interested)
I'll probably end up producing a paper list to give to my brother. It's not really safe to have electronic copies of passwords/private keys lying around and on a PC that you connect on-line...
Ideas? Do others have access to your crypto stash?
I did thought of this recently and started acquainting my wife of my wallet details and really teaching her the way round the Cryptocurrency in itself. So, should in case anything happens, she knows how to make the withdrawal with ease. And also investments are not wasted away. I have a book I also write down these details.
I was thinking the other day that if something happened to me and I was unable to speak or was in a coma, some of my BTC and 'alts' may be locked up forever...?
My brother is into cryptos, so he may be able to get into my Ledger Nano S w/the 24 word private key (which he would need to find), but there are other wallets w/pass phrases and keys to get into. He would need to search around for them on my PC, laptop, external HD, thumbdrive.... And if I placed a password to access them in a file, he would never get in...
Do people here have a plan to 'will' their cryptos to their families? If your parents, brother, sister, etc.. are not technically inclined or do not know anything about BTC, are they even going to gain access to them? (If they even know you have them...)
Accidents happen and you really never know what is going to happen to you each and every day. (I'm >50 and can have a heart attack!) Well actually I'm in decent shape b/c I'm a cyclist. That being said, I can have a cycling related accident... (both road and mtb for those interested)
I'll probably end up producing a paper list to give to my brother. It's not really safe to have electronic copies of passwords/private keys lying around and on a PC that you connect on-line...
Ideas? Do others have access to your crypto stash?
My brother is into cryptos, so he may be able to get into my Ledger Nano S w/the 24 word private key (which he would need to find), but there are other wallets w/pass phrases and keys to get into. He would need to search around for them on my PC, laptop, external HD, thumbdrive.... And if I placed a password to access them in a file, he would never get in...
Do people here have a plan to 'will' their cryptos to their families? If your parents, brother, sister, etc.. are not technically inclined or do not know anything about BTC, are they even going to gain access to them? (If they even know you have them...)
Accidents happen and you really never know what is going to happen to you each and every day. (I'm >50 and can have a heart attack!) Well actually I'm in decent shape b/c I'm a cyclist. That being said, I can have a cycling related accident... (both road and mtb for those interested)
I'll probably end up producing a paper list to give to my brother. It's not really safe to have electronic copies of passwords/private keys lying around and on a PC that you connect on-line...
Ideas? Do others have access to your crypto stash?
I have already prepared everything so if something would happen to me, there would be a second person that would know how to access my wallets.
I've heard of many people writing out a step by step guide for their family members on how to cash out the crypto and where is is all located in case of death. You can store all this info in a bank vault or any secure place that can be transferred to a relative in the event of your death.
That will work in most cases.
But O.P you can do a last willing testament if ever anything happens to you the inheritance of your cryptocurrency will be divided to the heir of your choice. You can also specify how much they will be having to eradicate misunderstanding about cyrptocurrency, alternatively the safe is located in your respective bank along with the hardware wallet, paper wallet, or anything with password to access the funds, you can also specify the bank in each heir respectively.
Hmm, I do not even have a safety deposit box. I hate banks with a passion...........
Well the alternative could be in a safe in your own home or any other secure location that a relative can have access to. The issues with these is that it could be costly to purchase one and depending on the size of the safe, it could be stolen from your home.
Just trust your family because they are going to keep your belongings and keep your private key safe. i guess we need to show them our private key and files and supporting phrase password. Write down on how to open a your wallet so that it will have an easy access.
Quote from: Crytptohack
No one really wants to talk about 'what if'........
I was really scared
Cryptocurrencies and cryptocurrency trading is a taxable event in many countries. Hence, it is already officially listed in your documents and should be also named in your will. As there are many security measures necessary to access your coins and tokens (if you have done it right), one can think of telling someone who you really trust how to access your coins. It is also possible to do a 2 or 3 step approach: E.g. one close person gets the information about the wallet or part of the password, one other person gets the other part of the password and your will will state, were the (hardware) wallet can be found etc. Then it might be even more secure.
Overall, we should think about it sooner or later.
Overall, we should think about it sooner or later.
Ideas?
With my wife not wanting to hear of any word about "what if...", it's even harder to find a way to do this.
You are lucky, you have somebody in the family that understands crypto. I don't have this luck.
Bitcoin is not even my biggest concern (I'm not rich yet). It's the altcoins, of which some may have a future.
And with so many types of wallets laying around, making a list of coins, files, websites, passwords, would be too big and highly unsafe.
I would be happy to find a very good solution. For now the only one I have in mind is a text file with all the details I can gather, password protect that file and keep it somewhere at hand (USB stick?).
Of course it'll make sense only when she'll accept to talk on the "what if" subject, so I can tell her about the file and password. And actually get to make it.
Yeah, the alts and all of the individual wallets, especially if they are not ERC20. I think the text file that is password protected on a USB stick is good. Everything that is needed is written in the doc, maybe even instructions...)
No one really wants to talk about 'what if'........
I've heard of many people writing out a step by step guide for their family members on how to cash out the crypto and where is is all located in case of death. You can store all this info in a bank vault or any secure place that can be transferred to a relative in the event of your death.
That will work in most cases.
But O.P you can do a last willing testament if ever anything happens to you the inheritance of your cryptocurrency will be divided to the heir of your choice. You can also specify how much they will be having to eradicate misunderstanding about cyrptocurrency, alternatively the safe is located in your respective bank along with the hardware wallet, paper wallet, or anything with password to access the funds, you can also specify the bank in each heir respectively.
Hmm, I do not even have a safety deposit box. I hate banks with a passion...........
Many people involved in cryptocurrencies are starting to think also what will happen with their coins in case of their death, is it good to put that in the last will or not, to reveal that fact to their relatives and friends or not. And those who get the coins will they know what to do with them.
Personaly I think this is something you should share with the closest people you trust, because it would be too bad to waste the coins in the case of death.
Personaly I think this is something you should share with the closest people you trust, because it would be too bad to waste the coins in the case of death.
The cryptosphere is relatively 'new', so many of the people who are into this market are probably in the middle years of their life. (My guess) But in a decade or two, I'm sure there will be cases where wallets, trezors, ledgers have crypto locked up forever b/c no one knows either about them or how to access them. I can see someone finding a Ledger Nano S and thinking that it is just a password protected USB thumb drive......toss it in the trash with the rest of the junk...
Guess it can be viewed as a death coin burn.... even if it is .01% or whatever amount.
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