How can i pass on my bitcoins in case i die? - page 4.

Senor.Bla

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Quote from: botany on August 20, 2016, 02:55:59 AM

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.

not a bad idea, but i would need to have the possibility of an instant excess to my funds while i am still alive. maybe with some kind of master password. i should look further into this.

botany

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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.

olubams

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Quote from: Senor.Bla on August 16, 2016, 01:16:02 PM

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.

Hmmm, this is a serious issue that everyone should actually b thinking of because no one knows. I will want to learn from here and see if its applicable to my situation then apply it accordingly...

coolakid

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The only way I can think is to make a letter with your bit account and password and a brief explanation of what you left. Hide it somewhere, uhh safe.

PeRo

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Store a paper with the private keys somewhere safe or for safety reasons, make clues and steps how to get your private key. And if you want to pass your Bitcoins to someone who does not know about it, write instructuons on how to use it, transfer to fiat and how to set up a wallet and of course, how to import the private key.

Sharma

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First make sure your family know about bitcoin and teach them how to use offline wallet.Now secure your bitcoin with any offline wallet with proper backup.Write down private key or password on a paper with all instructions and put it in a bank locker.Your nominee will get access to it after your death

mammabitcoin2u

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Don't follow the herd~make your own path

Quote from: Senor.Bla on August 17, 2016, 03:27:45 PM

Quote from: extrabyte on August 17, 2016, 02:04:53 PM

Quote from: Senor.Bla on August 16, 2016, 01:16:02 PM

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.

I haven't thought about this situation but I would probably write down the account details for the web wallet, the 2FA how it works and how to use it, the hardware wallet how to a video in my HDD or hosted on google drive, and if it is a paper wallet just the private key. If they could not know even after this explanation I would suggest them to ask a friend or someone who knows to use bitcoin.

I do not want to give them to many instructions on how to use the bitcoin or my private key. if they can not figure this out on their own, then they do not deserve the bitcoin.
also i am not using a web wallet for this.

Quote from: iCan on August 17, 2016, 03:03:11 PM

Quote from: MyBitcoinPorn on August 17, 2016, 12:16:33 PM

You can set up a server that requires an email sent to it every month before it will email your family members with instructions and the private key.
Possibly could make it a smart contract maybe?

Pity that you don't like my previously suggestions)
You can make easy. Right down an e-mail with everything and put timer 1 week (1 month .etc) on it. And if you are dont die in this 1 week (......) you just put a new date of sending.

the safe and key necklace is one of the better choices but i prefer e-mail or smart contract one so far.
the problem i see with a will and the attorney as a trusty is that i still want to use the bitcoins and so my private key changes from time to time and i would need to adjust my will.
no attorney will want to change it almost daily for free and i will not pay for every change.

I only know of USA law:
1st you create a will (attorney's hold that will until you die, your will will be filed in Probate Court as well (unless you do it privately then the court portion doesn't apply) if atty is no longer in business or living, then whomever they appoint to guard their papers will have your will until you die.

You do not need to list the private keys in your will, only you wish to leave XXXX with your Bitcoins XXXX. As for changing your private keys from time to time-those should be stored from time to time by you (to easily be found in the event of your death) these do not have to be updated constantly on a will.

If you think someone is going to go into your personal paper files at home, looking for your BTC keys, then you should reconsider the company you keep Undecided

joshvette001

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It is consider wealth so their must be a way to create a will regarding how the ones you are leaving it too can obtain them once you pass on.

Senor.Bla

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Quote from: extrabyte on August 17, 2016, 02:04:53 PM

Quote from: Senor.Bla on August 16, 2016, 01:16:02 PM

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.

I haven't thought about this situation but I would probably write down the account details for the web wallet, the 2FA how it works and how to use it, the hardware wallet how to a video in my HDD or hosted on google drive, and if it is a paper wallet just the private key. If they could not know even after this explanation I would suggest them to ask a friend or someone who knows to use bitcoin.

I do not want to give them to many instructions on how to use the bitcoin or my private key. if they can not figure this out on their own, then they do not deserve the bitcoin.
also i am not using a web wallet for this.

Quote from: iCan on August 17, 2016, 03:03:11 PM

Quote from: MyBitcoinPorn on August 17, 2016, 12:16:33 PM

You can set up a server that requires an email sent to it every month before it will email your family members with instructions and the private key.
Possibly could make it a smart contract maybe?

Pity that you don't like my previously suggestions)
You can make easy. Right down an e-mail with everything and put timer 1 week (1 month .etc) on it. And if you are dont die in this 1 week (......) you just put a new date of sending.

the safe and key necklace is one of the better choices but i prefer e-mail or smart contract one so far.
the problem i see with a will and the attorney as a trusty is that i still want to use the bitcoins and so my private key changes from time to time and i would need to adjust my will.
no attorney will want to change it almost daily for free and i will not pay for every change.

iCan

hero member

Activity: 574

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Quote from: MyBitcoinPorn on August 17, 2016, 12:16:33 PM

You can set up a server that requires an email sent to it every month before it will email your family members with instructions and the private key.
Possibly could make it a smart contract maybe?

Pity that you don't like my previously suggestions)
You can make easy. Right down an e-mail with everything and put timer 1 week (1 month .etc) on it. And if you are dont die in this 1 week (......) you just put a new date of sending.

extrabyte

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Quote from: Senor.Bla on August 16, 2016, 01:16:02 PM

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.

I haven't thought about this situation but I would probably write down the account details for the web wallet, the 2FA how it works and how to use it, the hardware wallet how to a video in my HDD or hosted on google drive, and if it is a paper wallet just the private key. If they could not know even after this explanation I would suggest them to ask a friend or someone who knows to use bitcoin.

BitcoinNewsMagazine

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You could talk to a good probate attorney and set up a will. Put your bitcoin in a hardware wallet like Trezor and give the seed to the attorney for secure storage, along with instructions on how to recover the seed to a new Trezor in case of death. The seed itself would not be in the will but held separately by the attorney in trust. No attorney I have ever worked with would risk disbarment and jail time by stealing your funds.

MyBitcoinPorn

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Quote from: Senor.Bla on August 17, 2016, 12:13:18 PM

Quote from: Goms on August 17, 2016, 09:34:19 AM

If he does that, his family will be aware of his funds and they will spend it.

Anyone with your private key can spend your coins.

This is my point exactly! I will not give them my private key as long as i am alive. i do trust them and it is not much (so far), but this is out of the question.
I also do not want to write the key plainly in the will. You can call me crazy, but things happen and i do not think this is a safe way to handle this situation.

I am sure there are some smart people out here who have the perfect answer to my question.

You can set up a server that requires an email sent to it every month before it will email your family members with instructions and the private key.

Possibly could make it a smart contract maybe?

Senor.Bla

sr. member

Activity: 280

Merit: 253

Quote from: Goms on August 17, 2016, 09:34:19 AM

If he does that, his family will be aware of his funds and they will spend it.

Anyone with your private key can spend your coins.

This is my point exactly! I will not give them my private key as long as i am alive. i do trust them and it is not much (so far), but this is out of the question.
I also do not want to write the key plainly in the will. You can call me crazy, but things happen and i do not think this is a safe way to handle this situation.

I am sure there are some smart people out here who have the perfect answer to my question.

Goms

sr. member

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If he does that, his family will be aware of his funds and they will spend it.

Anyone with your private key can spend your coins.

satyakamc

newbie

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Your bitcoins are actually your private key/s. Now how do you decide to share that with your loved ones is upto you. You can share that before your death or after death, you can share the paper keys (keys printed on a paper) - for generating paper keys go to bitcoinaddress.org, generate paper wallet and take a print of that. Send your bitcoin to the public key/ bitcoin address given in the wallet and share the private key with your loved ones.

The Sceptical Chymist

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Quote from: tyz on August 16, 2016, 01:35:12 PM

Well, if your loved ones are not very tech-savvy then I would just safely print your private keys and put them on a safe place like a trezor or a lock box. You can put it to an other place which only they could know and give them a hint in your last will. And more important, but a tutorial to the keys about how to access the Bitcoins by importing it to a wallet client.

Yeah, this is exactly what I was thinking. OP, make up a will, that's like the first step. I've been thinking of much the same thing lately, not just for the little bitcoin I own, but stocks and everything else. It's definitely a good thing to do, whatever your age is. You never know when you're going to get hit by a truck and served up as road pizza, and then your relatives have to duke it out in probate court and whatnot. It could get ugly.

I think wills only cost a few hundred dollars to be drawn up. It's not a bad deal.

unamis76

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Quote from: mobnepal on August 16, 2016, 01:29:28 PM

Rent a deposit box in your bank and in will of bank write name of your loved one so that he can claim all money you have in your bank and also deposit box there in which you can put bitcoin paper wallet as well as instructions on how to get that bitcoin in form of cash in hand because many are still new on using bitcoin.

Quote from: socks435 on August 16, 2016, 01:35:06 PM

Better to give those passwords of your wallet to your family first before you die. . or always give those gift and make a note to your table one you die they can read the note for your bitcoins to use from your inherit after you die..

Quote from: fireball4 on August 16, 2016, 01:43:05 PM

i think just give them your private keys and then show them how to use it and when you will die they will be able to use those bitcoins

All of these require trust...

Quote from: iCan on August 16, 2016, 02:19:33 PM

Or better way, buy a safe and lock down your private keys there, and use safe key as a necklace. so they can open the safe only when you die!

This isn't a bad idea, indeed

iCan

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you can appoint a trustee, and give him half of key and other half give your loved ones.
Or better way, buy a safe and lock down your private keys there, and use safe key as a necklace. so they can open the safe only when you die!

Bitcoinsummoner

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I think better to inform them earlier so that they know about it because if they are not know about that your bitcoin will be die too in that wallet..

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