Topic: HOW DO WE TRANSFER BITCOIN WEALTH TO HEIRS AND THE NEXT GENERATION - page 5. (Read 1615 times)

If you have a few children, you could try using multisig, but then there's that one of your children dies after you, but before they can share the money.
You could also use a time lock, but then, it doesn't mean you'll time it well enough. You're 50 and you have a 10 year old child, so you lock your coins for another 5 years, but you're still alive, so you keep going, finally you lock it again and die a year later, so your child will have to wait 4 years? That's pretty harsh.
I'd put the instructions and seeds in a capsule and hide it somewhere. I'd give the location to someone that I trust, but make it hard for them to break into it. Let's say you have children and you tell them where the capsule is, but it's under a concrete floor in your living room, so they'd have to use an electric tool and need a whole day to uncover it. They won't do it wile you're alive, but should have no problems getting to it when you're gone.

Thanks for the correction, I apologize for my spelling and grammar mistakes, as English is not my first language. Your observation holds true that shelf life of words written on a paper is limited, and they can deteriorate overtime. Nevertheless, utilizing good quality of ink and paper, along with protecting the document from sunlight and moisture, we can consider the option of applying transparent plastic sheet through lamination. By doing so, it is possible to prolong the durability of document for extended period of time.

There is a popular saying that anything connected to the internet is vulnerable. This shit always scare me considering that most of my activities and savings are on electronic medium that is connected to the internet always. Physical note book like you said is not bad but have you considered the durability of the note book? Can it stay for a long time without being damaged? Is it possible to protect the content for a long time against others that do have access to your house?




Good thread made on Electrum wallet. The thread actually explained everything clearly and it seems workable. It just require some mastery as whoever is implementing it must be technically sound to avoid mistake. That will not be a problem anyways because whoever the heir is that is to get the inheritance should be able to seek the knowledge needed to scale through.



Another area is also in terms of safety and preservation of the paper where you will write the note as suggested by the author. The aim of the whole thing will be defeated should the note enter the wrong hands. This bring to mind the option of saving part of the sensitive items in a vault with the bank. I think this will work because saving a note at home for 20 years is not an easy thing.

Inherit bitcoin or not only of it to their wallets is ideal to hold until they know the use of the bitcoin itself, its quite risky if you will give crypto to the child without knowing what it is or else you will seek a lawyer to your testament regarding with the inherited bitcoin to them so in the future they will use those, its not ideal just giving them a piece of paper written the seed phrase and wait them to unlock so they have those treasure physical paper is prone to destruction find a better safe, if you have the capability to invest with crypto make sure to secure those assets too..

first off, I have to address the 'beehive' typo. Let's just clarify it's 'believe.'

Physical notepad for wallet data? Seriously? Its a decision, but lets look at security and history. Throughout history, written words on paper or stone tablets have been damaged, stolen, or lost. However, your point about distrusting electronics is valid. A digital age paradox: the instruments that enable digital assets can also be their downfall

Discuss the next generation. Teaching our kids about Bitcoin and its technology? Extremely important! The digital domain will host future economic, political, and social struggles. However, your comment regarding optimum advantages and pass on to them is redundant. In conclusion, your old-school way works. Its not foolproof. Make the youngsters Bitcoin-savvy, but give simple, concise messages

Keeping the physical copy of the data written on paper is not going to be easy peasy. Paper can be easily damaged like spill a glass or water so it needs a safe lock box something water and fire proof. But even if you do that you need to have a key for that box which you need to locate it somewhere and hope the next generation will find it.

That is why locking up for a certain period is the better choice for inheritance.

[Tutorial] Making your crypto inheritible

I believe it is the right approach to record all information related to our wallets in a physical note book, and I have also chosen the same method to secure my keys, because I don't prefer to save such crucial information on electronic devices.

Moreover, it is essential to provide our children with solid understanding of Bitcoin and its underlying technology so that they can explore optimum benefits from these digital assets that we will pass down to them. This ground will enable them to take optimum advantages of this digital assets that we intend to pass on to them.

Well, what I am saying is a kind of simple and direct. Let me put some specifics to my point for clarity sake. Assuming I have 3 heirs that I want to transfer my asset to and I already save like 6 BTC that I want to share equally among them. I could just make 3 different wallets and transfer 2 BTC to each of them. Thereafter, I will give each of them access to the wallets and mandate them to keep the information safe and never to withdraw anything from the wallet until I'm gone as that will be my gift to them. Any further Bitcoin I buy will be shared in similar proportion and sent to those wallets as well. I will set a bench mark of like 16 to 18 years as the age they must get to so I am sure the money will not affect them psychologically. This is necessary because exposing children to certain kinds of money have a way of affecting them negatively like I stated before. Besides, the aim of wealth transfer will be defeated if the wealth affect then negatively rather than be a thing of help to them.


I will still have access to the wallets even after giving them access too and periodically I will be checking the wallets to see that everything is in order. 1 or 2 times per year that you suggested is a good one and enough to know that all is going as planned. Well, I don't completely see how the services of a third-party will be needed because I already stated in my earlier post that I will make it a duty to teach them the basics. If I don't need such services, then I don't see why they should. Remember, money is involved so I am confident they will be will to learn the basics which is enough for them to protect the asset and all the sensitive information as they will do with their normal banking details. But then, looking at it from another angle, I can keep that as contingency plan and in this case, it will be someone I have some level of trust in just like you suggested.


I was actually excited seeing this wonderful suggestion from you. This method could also be very good especially when one want to set aside part of the wealth for charity. Even though it is not still very clear if the established trust that I know can take up digital assets like Bitcoin, but there is still chances it will be possible.

This is also another serious challenging issues but as mother or father the only possible is if your family are in a good terms with each others, because you hand it over to your wife or your husband depending on how trusted realistic you two are.. lemme say for instance now, I have to save btc for my daughter for some years the only person that could know about it is my husband since our daughter isn't of age to start swimming on btc phrase, private keys and so on.

So we can't predict tomorrow but we are too sure of something positive would happen, so it is to life as we keep planning to make preservation to our generation we should also try to build some trust within the family member so that such wealth could be handed over to the next generation, such as the way companies are being inherited and they maintained the standard of the company even till the next generation to come could still be benefiting from it. Security plays a very virtal and crucial roles here because if we don't teach our children, family members and relatives about security and ways of preservation they don't mind losing all assets to a cheap scammer.

you gotta look into options like crypto wills or trust funds that are crypto-friendly. Also, make sure your fam knows the ins and outs of your digital wallet keeping all the private keys and passcodes safe but accessible is key. Keeping that BTC in the fam is next level, so props for thinking ahead!

When we are planning on leaving bitcoin as an inheritance for our children, we should take a look at the time frame from when we will begin the plan and the average age the children would have been by the time they would have been well opportuned to access the bitcoin, also it's a task which is expected from the father to engage his children in having interest in bitcoin, knowing about bitcoin and be ready to utilize every possible potentials that might comes in through bitcoin adoption, what use will an asset if the children it was will for have no value or regards on it, there's alot to secure right before the parents pass on, they have to see that their children are interested in bitcoin and will continue with where they have left it from and pick up hence, there are more means tgiys children can inherit the asset without going through any insurance scheme if properly arranged.

I am a little bothered by what you seem to be suggesting, at least in terms if a lot of time might pass between giving the instructions, and I suppose I could assume that you are checking the validity of the wallets periodically, such as 1 or 2 times per year, because if several years pass and the keys and the method has not been checked, it could become problematic.. Of course, another way could be to describe the method, but also provide the back up seed (or whatever method is being used), so even if they are having trouble figuring it out, they still may be able to get some technical assistance from some random hacker (hopefully trustworthy) to figure out derivation paths or whatever might be a possible snag in getting at the wallet showing the proper balance of 0.00451376 BTC or whatever the correct amount contained therein might end up being.



I doubt that I am really disagreeing with anything that you are saying in regards to attempting to teach your lil ones (and also at various stages as they become less little), and also maybe it is likely if you have raised your kids well, then they are going to listen to everything that you say and not rebel against you in any kind of active or passive way. 

And if they were to happen to rebel against you, then it would thereby be up to you whether you choose to negatively adjust the amount of the cornz that you had been intending to leave them.


There is a pretty wide practice of the use of trusts amongst rich people in a lot of places around the world, and even if there is likely some jurisdictional variance (and even various hurdles along the way), trusts are considered to be kinds of private conveyances of value/property, that are set up while you are living and you can even have a trusted friend administer once you pass.. or you could already have it going before you pass and you could be the administrator of it while you are still living..

I surely don't know all the nitty gritty between the kinds of trusts (revocable and irrevocable) that could be set up, but you ultimate describe whatever terms that you like within such trust including who the administrator is (and of course who the various beneficiaries are) and usually the administrator would receive some kind of a fee that you would describe within the trust. and I would imagine that you would not want your trust administrator to work for free because they might not carry out what you want if the terms do not fairly compensate them for carrying out the trust terms and maybe even describing how expenses, if any, are paid from the trust.

Seems majority of the comments here suggest that hardware device is a good option. The only aspect that people seems to be having divergent views is who will be in custody of the hardware, the password and other sensitive information. If those are well clarified, then hardware is truly a good option.


Your argument is valid and fantastic in my opinion. But the area people are raising concern is in terms of security and being able to trust the third-party because someone can anonymously steal the Bitcoin. It could even happen that someone else privy to the wallet or storage medium information can steal the Bitcoin while supposedly under the custody of the third-party.  The whole thing is complex so you should be able to highlight how the third-party can be involved that you think will not lead to problems. I'm truly curious to know your perspective of third-party involvement.

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banking on Bitcoin for familial harmony and inheritance? Really? Bitcoin is but a drop in the vast ocean of financial instruments available today.

Your faith in Bitcoin and disinterest in third-party involvement is both impressive and concerning. I's critical to remind ourselves that while Bitcoin offers decentralized asset management, its far from infallible. Dismissing third-party involvement is, frankly, reckless. In this ever-evolving digital ecosystem, third parties can offer invaluable insights, security protocols, and recovery mechanisms.

Take a step back and assess your approach. While Bitcoin is promising, it should be just one piece of a diversified financial strategy. Broaden your horizons, and don’t just blindly latch onto the latest fad. Welcome to the forum, by the way. But be ready; the real world isnt as rosy as your optimistic musings suggest.

Why not use a hardware device to back up the seed and lock it in a safe in banks or other services where they can keep that piece safe for a certain period of time? Can be done in multiple banks. In those safe, they never see what's in them. Keep the hardware device password protected too. Give the password to whom you want to pass on the wallet, but not the key. When the time is over, only then they can access that locker.

This way we can keep the seed safe while making a way to pass it down to the future generation. If there are other ways to do it, let me know. But this one seems the best way to me because you are not required to share or disclose your private key or seed phrase. Safe and secure if you ask me!

I am sure you will agree with me that to leave Bitcoin for heirs require them having at least the basic knowledge of Bitcoin... this will make them self-dependent, not asking third party for help when accessing the Bitcoin. Of course you know the risk associated with asking for help from third party as regards Bitcoin.

Furthermore, in the early stages, children have the ability to learn and retain many things. So, it is therefore our duty to teach them the real things of life from our wealth of experience. Let their passion decide which to take seriously.

The is another wonderful suggestion that is feasible. This is also elaborate in the sense that it makes their education about Bitcoin a prerequisite for receiving their inheritance.  Choosing a reputable organisation that will have the integrity and longevity to manage such trust is another huddle. As of today, I don't know if there is such and organisation in existence as I have not read or seen anywhere where such services is being talked about. More so, don't you think insurance company might come in and considering that there is yet to be a registered insurance company that handles Bitcoin, will that not be another huddle?

This is a very technical question one has to solve, before it gets too late by lost of Bitcoin after death without transfer the wealth to hair, which has been a Big lost in the family. That's why one need to prepare his or her documents well before the time, which no one knows when death going to knock at door, but a simple to saved private key or password and email used on hardware, and keep save and write and label the next generation names on the notebook, both soft and hard copy in area saved. While let your wife know little about my business when we are on good times discussion, if show interest, I educate her about Bitcoin as well, how it works. That's we helped not to lose everything.

I agree with you that for a case of only one heir, a lawyer is really not necessary but in the case of a person with many heirs, it becomes a little complicated. Those suggesting a will are viewing it from legal perspective which is the formal way of transfer of asset in a situation where there are multiple beneficiaries. There could also be some other traditional way of doing this transfer like customs specified in some part of Africa and Asia... in the advent of death of a father, there is already a motherlity of sharing the assets defined by their customs. However, Bitcoin differs from physical assets and has its uniqueness and sensitive that requires some form of technical know-how.

A lot of great suggestions have actually been made so far and I tend to agree with those that have clear technological feasibility such as multi-signature wallet where the heirs will all be required to sign before access.

Nevertheless, in a case where the multi-signature wallet suggestion is not feasible, I am considering arranging my portfolio in different wallets according to the heirs I want to inherit them. As time goes on and when I guage their level of mental maturity, I could even give them access but with specific instructions never to temper with them until I am no more.  This is because I feel it is better the rightful heirs access the funds than some third parties pulling a fast one on me and my heirs. This is just a possibility and I might still adjust it.

There is such a thing as "digital heritage". It was created just for such purposes. I don’t know in which countries it is and what conditions, but for a long time it has been possible to leave a digital will so that people after you can use what you leave them.
In general, this is a good question how to leave a password from a wallet with a large amount of money. After all, no matter who you leave it to, there is a chance that a person will use the password and steal all the assets from this wallet. I'm sure people have already solved this problem. I would use several people with parts of the password for each, but until the moment of death, these people do not know about each other

The title of this topic motivated me to teach my family about Bitcoin and I really feel like telling the kids in my house about Bitcoin. So that they can become more independent in the future when they start working and managing a business apart from receiving an inheritance from their parents, because what you say is in my opinion wise enough to do for a very harmonious family life. Bitcoin is an asset that can be exchanged for any currency and it can also be easier to transfer to other exchanges and wallets because the owner of course already knows how to move all of that to another place.

Well, if it has to be related to our respective families. So what must be done now is to tell and teach those in our own family about Bitcoin so that they can more easily receive inheritance when we are no longer able to work and manage the assets we already have in life. And it's true as you said that involving other people in terms of any cryptocurrency assets or assets is very unwise and we cannot fully trust because parties who are not from our own family can deviate from the plans we have laid out. So it's better not to involve other people in something as simple as this. And by the way, welcome to this forum for you, I hope you can get better here because from the thoughts that you have poured out here, I think you are a pretty smart person.