Topic: How can i pass on my bitcoins in case i die? - page 3. (Read 6600 times)
i think leaving clues and telling your loved ones or love one the tricks and educating them about bitcoins will help you in more than one ways and you can simply tell them about bitcoins and how to use them after you die and good luck for your future
so i was thinking a bit about different solutions and there i one question that i would like your opinion on.
what time span should it take to redeem the coins once i am dead or go missing (i know that there are laws on that, but forget about that)?
Since you dont want to consider laws related to inheritance then your coins could be immediately accessed,used,redeemed or can be put to whatever use your heirs want to put them at.There's no maximum or minimum time limitwhat time span should it take to redeem the coins once i am dead or go missing (i know that there are laws on that, but forget about that)?
here is why. my hires fake the death certificate, take the coin and off to mexico. maybe i get imprisoned or kidnapped and the do not hear from me for maybe a month. they assume i am dead and want to cash out and when i am back the money is gone. on the other hand i might want them to have access to money in case i am imprisoned or kidnapped and need help.
so i was wandering what is a good amount of time where the coins are frozen.
As opposed to renting a safe deposit box at the bank to store your wallet information, many banks offer a 'secure document' or 'secure packet' service where they only store an a4 envelope of documents for you at a much cheaper cost. You can use this service to store details of your wallet information, but also copies of your Will, any power of attorney documents, your passport and your insurance policies as well.
You could then leave this packet to your heir in the event of death, or alternatively you can arrange for your heir to be able to sign the packet in and out of the bank by themselves - this might not always be the best option, but if you've got unconditional trust with the heir (for example, my wife can sign out my packet, but we also have joint bank accounts and live together so it's not like she wouldn't have access to my information or assets anyway!).
You could then leave this packet to your heir in the event of death, or alternatively you can arrange for your heir to be able to sign the packet in and out of the bank by themselves - this might not always be the best option, but if you've got unconditional trust with the heir (for example, my wife can sign out my packet, but we also have joint bank accounts and live together so it's not like she wouldn't have access to my information or assets anyway!).
so i was thinking a bit about different solutions and there i one question that i would like your opinion on.
what time span should it take to redeem the coins once i am dead or go missing (i know that there are laws on that, but forget about that)?
Since you dont want to consider laws related to inheritance then your coins could be immediately accessed,used,redeemed or can be put to whatever use your heirs want to put them at.There's no maximum or minimum time limit what time span should it take to redeem the coins once i am dead or go missing (i know that there are laws on that, but forget about that)?
so i was thinking a bit about different solutions and there i one question that i would like your opinion on.
what time span should it take to redeem the coins once i am dead or go missing (i know that there are laws on that, but forget about that)?
what time span should it take to redeem the coins once i am dead or go missing (i know that there are laws on that, but forget about that)?
Thank you very much OP for giving such a good ideas,
I think it is better to keep all the wallets records in a pendrive with full details in a notepad, apart from that you can create a book with full details about how to use the bitcoin wallets and procedures of using bitcoin online and how to convert it to fiat currency. Like this you can keep all records in any safe place or in bank lockers and give instructions to bank or your lawyers about the will of the bank locker details like this they will get all details about your bitcoin and they will take benefit of your hardwork after you are died
I think it is better to keep all the wallets records in a pendrive with full details in a notepad, apart from that you can create a book with full details about how to use the bitcoin wallets and procedures of using bitcoin online and how to convert it to fiat currency. Like this you can keep all records in any safe place or in bank lockers and give instructions to bank or your lawyers about the will of the bank locker details like this they will get all details about your bitcoin and they will take benefit of your hardwork after you are died
Makes me think also to give bitcoin as inheritance. I think you could just write it on a journal about your email address, password for your bitcoin wallet. And then wrap it up with the tag "Do not open until I die" then the name of the person who will inherit your bitcoins. 
But if you want it to be more legal, you could ask some attorney and have your last will and testament.
But if you want it to be more legal, you could ask some attorney and have your last will and testament.
I agree with everyone else - talk to your attorney and make sure to clearly indicate this in your will. You are going to have to give the keys to someone so they can properly access it if god forbid something should happen to you.
If you are low tech style and keep a copy of your keys written down then write a letter to your loved ones with step by step instructions and keys, and keep it in the same place. No greater risk that you are already taking. Of course if the place will not be found when you die, thats a problem ;-)
A more flexible approach could be to give them the password to an encrypted drive which will be found when you die. This has instructions/keys but you dont need to tell them that its BTC related now if you dont want to. They have to steal the drive to rob you of the coins....and if thats a consideration then why leave them anything! Help the BTC community with a little extra price inflation!
I also wouldnt be surprised if some of the secure BTC storage providers like Xapo or the like have a related service? If you have registered the account with ID etc then it should transfer to the heir and you can leave instructions in the will without mentioning too many details or keys etc? Just say I have an account with xxxx and all funds pass to xxxxx?
A more flexible approach could be to give them the password to an encrypted drive which will be found when you die. This has instructions/keys but you dont need to tell them that its BTC related now if you dont want to. They have to steal the drive to rob you of the coins....and if thats a consideration then why leave them anything! Help the BTC community with a little extra price inflation!
I also wouldnt be surprised if some of the secure BTC storage providers like Xapo or the like have a related service? If you have registered the account with ID etc then it should transfer to the heir and you can leave instructions in the will without mentioning too many details or keys etc? Just say I have an account with xxxx and all funds pass to xxxxx?
This topic put a smile on my face. Uhm.. I think you must give it to the beneficiary of yours when you feel like dying. It would be hard for them to understand about bitcoins if they are not aware of it. Worse thing is that they might think that it is not really something valueable. But if you insist on doing this you could write it on your last will and testament and then told your lawyer about it. Meanwhile, train or introduce that person who will inherit your bitcoins to bitcoins. Make him or her familiar with it.
The question is how to transfer your bitcoins securely to your heirs.
Putting it in your will and telling your lawyer won't solve the problem. How will your heirs actually access your bitcoins?
This topic put a smile on my face. Uhm.. I think you must give it to the beneficiary of yours when you feel like dying. It would be hard for them to understand about bitcoins if they are not aware of it. Worse thing is that they might think that it is not really something valueable. But if you insist on doing this you could write it on your last will and testament and then told your lawyer about it. Meanwhile, train or introduce that person who will inherit your bitcoins to bitcoins. Make him or her familiar with it.
what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.
and only after my death and not before. so giving them my privatkey now is not an option.
Wrote down your private keys,online wallets, username,password where you putted all your Bitcoins, if you want to store it in paper wallet or online wallet and put it into a safe and don't forget to put instructions precisely and easy to understand on how to use and how to get those Bitcoins in their respective storage because for sure they would be confuse especially if they're not tech savvy so that in the moment you die the you can tell them about the safe where you put all your Bitcoin holdings.
and if they are not around in the moment i die? or when i die so fast and unexpected like in a car crash? if i tell them before how can i prevent them to clear the safe before i die?
Aren't there attorneys who execute wills like in this case ? I am sure you should be able to put in all that info inside a letter and give it to your attorney. They will be legally binded to give your family the will on your death.
I would save the keys, and detailed instructions on a USB drive.
Put a step by step guide so that someone who has no idea how to use a computer could do it. Don't assume anything. They may need screenshots with arrows pointing to the button they need to press etc.
Then put that USB drive in a fireproof safe, or rent a safe deposit box.
You should leave the USB in your will with instructions who it goes to, but you may want to have a discussion with that person before, so they know what to do with the information when they get it.
Remember how confusing everything was when you were first learning.
Think of the things that you had trouble with when you started.
Put a step by step guide so that someone who has no idea how to use a computer could do it. Don't assume anything. They may need screenshots with arrows pointing to the button they need to press etc.
Then put that USB drive in a fireproof safe, or rent a safe deposit box.
You should leave the USB in your will with instructions who it goes to, but you may want to have a discussion with that person before, so they know what to do with the information when they get it.
Remember how confusing everything was when you were first learning.
Think of the things that you had trouble with when you started.
what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.
and only after my death and not before. so giving them my privatkey now is not an option.
Wrote down your private keys,online wallets, username,password where you putted all your Bitcoins, if you want to store it in paper wallet or online wallet and put it into a safe and don't forget to put instructions precisely and easy to understand on how to use and how to get those Bitcoins in their respective storage because for sure they would be confuse especially if they're not tech savvy so that in the moment you die the you can tell them about the safe where you put all your Bitcoin holdings.
and if they are not around in the moment i die? or when i die so fast and unexpected like in a car crash? if i tell them before how can i prevent them to clear the safe before i die?
what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.
and only after my death and not before. so giving them my privatkey now is not an option.
Wrote down your private keys,online wallets, username,password where you putted all your Bitcoins, if you want to store it in paper wallet or online wallet and put it into a safe and don't forget to put instructions precisely and easy to understand on how to use and how to get those Bitcoins in their respective storage because for sure they would be confuse especially if they're not tech savvy so that in the moment you die the you can tell them about the safe where you put all your Bitcoin holdings.
If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"
It is good thing that you can write down your private keys and include it as appendix to your last will.
You do have to make sure that your will is sealed and secure.
Plus once you die, those who execute the will have to be absolutely trustworthy.
i do not know my time of death, so i will use my coin and change my private key an a regular basis. it is not practical to change my sealed and secured will every time. this is a problem.
Or you can set your computer with automated program that will pop up in front of the laptop that can see from anyone about telling the story and put the private key and how they can redeem it..
If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"
It is good thing that you can write down your private keys and include it as appendix to your last will.
You do have to make sure that your will is sealed and secure.
Plus once you die, those who execute the will have to be absolutely trustworthy.
i do not know my time of death, so i will use my coin and change my private key an a regular basis. it is not practical to change my sealed and secured will every time. this is a problem.
If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"
It is good thing that you can write down your private keys and include it as appendix to your last will.
You do have to make sure that your will is sealed and secure.
Plus once you die, those who execute the will have to be absolutely trustworthy.
If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"
It is good thing that you can write down your private keys and include it as appendix to your last will.
Perhaps making a will with a password to a zip file or something encrypted with your family, and storing the key or password away with your lawyer and the wallet with your loved ones.
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