In event of your death - page 8. | Bitcointalksearch.org

batang_bitcoin

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Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

Don't trust some lawyers as they are only for the money. But still there are some lawyers that has commitment to their jobs and contract so it's good also if you will have your last will to your nieces and nephews when you die, just give him some instruction and he's the one to explain it when you passed away.

JL421

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Now that's a really bad situation for you why don't you just store it in a usb and tell you neice to keep it safe. You can create like a document file in it explaining everything and how to restore. Or I'm assuming you are pretty old so why don't you just sell those coins and enjoy your life as you said you have no one with you

doomloop

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Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

death is the compulsory thing and no one knows about the date and time, i think you are good at this point that you think about this matter, well in my opinion you do not need to give your personal keys to lawyers but you need to write all your personal keys in your dairy or whatever and simply tell about it to your siblings and tell them to get profit after him.

mariahh

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The fact that you couldn't afford money to die is dramatic (but this is not our theme).
Personally I have never thought what would I do my bitcoin account if i would been dead.This because I've just started the account and I am only 19 years old.However people generally don't think that they are going to die because they do not want to die, and this means that we should all make sure that if we die this kind of investmen (bitcoin) somebody else would gain the value of "money" instead of get lost.

Chanock

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Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

If you are worrying who will benefit on your bitcoin when you die, Evaluate your love ones first, think whose needed your help most then, as soon as today, educate him/her regarding bitcoin. If he or she shows no interest, then he/she losses his/her chance to benefit on your bitcoin. Look for somebody in your family who will show interest and I am sure that one of them will show interest and maybe they will invest on bitcoin when he/she found out how you earn using bitcoin even you are still alive. Then, both of you will benefits on bitcoin. But if ever nobody in the family shows no interest, you can donate your bitcoin in social welfare through educating the person in-charge how bitcoin works. There is no need to worry about what will happen to your bitcoin when you die. Right now, Just live your life up to the fullest and enjoy your bitcoin earnings.

camelson

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Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

Don't think about the death if you have Bitcoin in your account just enjoy it and cash it out Wink

Also search for a person on whom you can trust. I have my family and a friend who know about my private key and I can trust them completely.

Xester

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Quote from: gabmen on June 29, 2017, 08:10:58 AM

Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

LOL such a gloomy thought dude though reasonable. I think you should teach them already about btc. You really wouldn't have much choice but to teach them about it. Or you can make recordings where you can explain to them how to have access to your btcs and how to use it if they're still too young to understand.

Yes, I agree but why would he have to do some recording to teach them. They could always watch it online on youtube. More accurate and more understandable. Grin

But anyways, yes, he should teach them already about bitcoins while they are still young. But kids were not really interested into it as they are more interested on cartoons and games. Maybe you could write some links, addresses so that when you die they can access it. Or better yet, exchange it and have open their accounts.

gabmen

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Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

LOL such a gloomy thought dude though reasonable. I think you should teach them already about btc. You really wouldn't have much choice but to teach them about it. Or you can make recordings where you can explain to them how to have access to your btcs and how to use it if they're still too young to understand.

aesma

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fly or die

Quote from: Windpower on June 28, 2017, 05:43:47 AM

Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

I currently have no provisions set in the case of my death. I am relatively young but anything can happen at anytime, so it is always smart to have a plan if anything does happen. I plan on making some kind of provision soon and I will be doing it with my lawyer. I am happy to do it with my lawyer as there will be legal documentation to go with the whole process which means that they lawyer can't run off with your money unless he wants to get caught by the police. It is similar to making a will. I really don't see why you are not willing to do it with your lawyer as that is the safest option you have, friends can always turn against you and you won't be able to do anything about it.

Well it really depends on the amount of BTC we're talking about. If you give your lawyer access to 100BTC, he will look it up and see it's currently a nice amount of money. Maybe not enough to screw you, but he will not forget. Then in some years BTC is at 10000$ or more, the lawyer is tired of his job, he might think he can retire in a South American country with your BTC...

Hafas Rama

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I think if your niece is young and not yet understand about bitcoin.
You have to write a will for your nephew that contains what you want to teach your nephew.
And that will your nephew will understand about your relics for himself

Sled

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Quote from: Xester on June 28, 2017, 07:25:43 AM

How young was your niece and nephew? And how young are you? You are actually thinking about your death when you are actually starting your life. But penny wise, yes, we will die and we will lost all the possession we have. Maybe if your niece and nephew already studying maybe you can teach them how to earn bitcoin or what bitcoin is. Then tell them that you will give them some inheritance. Or if you are not really sure about bitcoin, maybe encashed it and transfer to a bank.

I don't think that converting it into fiat is a good idea because the possibility of earning more money in the long term will get lose because the possibility of price increase in bitcoin is still high for these incoming years and i think that just converting it into fiat will unable them to earn and have a great asset on their young investment portfolio. I think it is better if he will just explain it to his niece and nephew on what is bitcoin first and try to find out if they are worth it to give inheritance to them.

Xester

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How young was your niece and nephew? And how young are you? You are actually thinking about your death when you are actually starting your life. But penny wise, yes, we will die and we will lost all the possession we have. Maybe if your niece and nephew already studying maybe you can teach them how to earn bitcoin or what bitcoin is. Then tell them that you will give them some inheritance. Or if you are not really sure about bitcoin, maybe encashed it and transfer to a bank.

Flyyyy

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Quote from: freeyourmind on June 27, 2017, 08:45:53 PM

This is actually something important to think about. I'd assume that as the cryptocurrency market matures, there will be options for beneficiaries in some way or another.

For now, you can make a video and put it on a usb stick, on how to recover and utilize your Bitcoin account, and have that usb stick in a safe, with it listed as your niece or nephew on your will.

In case of death, you must make a will. And in the will to write a password and all other identification data. I think this is the most reliable option.
The problem is that people do not think about death. And death happens suddenly

Windpower

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Quote from: CryptosapienZA on June 24, 2017, 09:05:38 AM

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

I currently have no provisions set in the case of my death. I am relatively young but anything can happen at anytime, so it is always smart to have a plan if anything does happen. I plan on making some kind of provision soon and I will be doing it with my lawyer. I am happy to do it with my lawyer as there will be legal documentation to go with the whole process which means that they lawyer can't run off with your money unless he wants to get caught by the police. It is similar to making a will. I really don't see why you are not willing to do it with your lawyer as that is the safest option you have, friends can always turn against you and you won't be able to do anything about it.

v0rtecxz

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I think what you should do if something worst happens to you, all you have to do is tell all you do and what you have for your family or family so that everything that is done is not in vain. And useful For your family, and you should tell how to access your source of income or your property source, tell how to use it and melt it in its original form, it may be something that has to be done to prevent the worst thing happening to you

xianbits

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For me this topic is like me having a life insurance that I need to have a beneficiary who I can truly trust. I think it's not hard to disclose all the information to my family because I truly trust and believe in them. Maybe I just need to explain what are cryptocurrencies first so they could really understand that it must be valued and kept secure.

pitham1

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Quote from: swogerino on June 27, 2017, 05:59:05 PM

I haven't thought about this but I never would trust my bitcoins to some lawyer. The greed level of the majority of the persons is at the highest nowadays. I will only let know about my bitcoins to my family and nothing else so they would know what to do if I were to die. Really a good reminder as death can cheat us all.

Bitcoin is about removing the middleman; removing the need for a trusted third-party? So why would you depend on a lawyer to make sure that your bitcoins get to your loved ones? Just find a way to safely transfer your private keys.

Faiyz

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Quote from: freeyourmind on June 27, 2017, 08:45:53 PM

This is actually something important to think about. I'd assume that as the cryptocurrency market matures, there will be options for beneficiaries in some way or another.

For now, you can make a video and put it on a usb stick, on how to recover and utilize your Bitcoin account, and have that usb stick in a safe, with it listed as your niece or nephew on your will.

Or just accept the fact that you are the only one who knows your keys. And if it is offline its really hard to teach just anyone who is new to btc to entrust your keys. I would agree on a video but it is just better to write passwords on a piece of paper then hide it a place where it is not hidden but also not a place where everyone will be looking for it like the ceiling fan. Because there is a good chance that people you trust will find it because it is in an unconventional ways.

freeyourmind

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This is actually something important to think about. I'd assume that as the cryptocurrency market matures, there will be options for beneficiaries in some way or another.

For now, you can make a video and put it on a usb stick, on how to recover and utilize your Bitcoin account, and have that usb stick in a safe, with it listed as your niece or nephew on your will.

swogerino

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I haven't thought about this but I never would trust my bitcoins to some lawyer. The greed level of the majority of the persons is at the highest nowadays. I will only let know about my bitcoins to my family and nothing else so they would know what to do if I were to die. Really a good reminder as death can cheat us all.

Topic: In event of your death - page 8. (Read 6000 times)