Topic: Inherit coins to my family after passed away (Read 787 times)
If I were to do this, I would have to make sure that my children or heirs would have enough and sufficient knowldge on crypto and bitcoin otherwise it might just be a waste. They might abuse or misuse it if they did not know the proper way of handling bitcoins. Of course I would want my hard earned coins to be inherited by someone who could cherish it. At an early stage, I would tell them about it and ask them to keep my private keys so they will have access to it once I die.
You have to get a lawyer then make a testament that after you leave this world they will be your successor if ever you want your bitcoin be continue to your next generation. Seal it with your signature in it. And make sure that you store bitcoin as more as possible so it will be useful. And be sure that your beneficiary is the one you have put in the testament.
The only one who know my coins investments, wallets, private keys, is me. So the question is how to inherit this information to my family? to give them privilege to access it after I passed away 
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.That is difficult. If you will use attorney to hold your private key who knows if he will give it to your family after you passed away, I hope you will not passed away before you have settled everything.
The only one who know my coins investments, wallets, private keys, is me. So the question is how to inherit this information to my family? to give them privilege to access it after I passed away .
.That's hard. Unless you have a terminal disease or planning to commit suicide, you don't know when that time will come. And i don't thunk many of us would be willing to share pur wallets since of course we also have plans for it for the future. I think the best thing to do here is first, to educate your family about crypto and bitcoin and have your security keys stored physically somewhere and have a trusted family member know where it is.
The only one who know my coins investments, wallets, private keys, is me. So the question is how to inherit this information to my family? to give them privilege to access it after I passed away .
Yeah , that is what i asking to myself also what i die in a accident ( wish that does not happen ) what happen to my bitcoin i think its a good idea to make Bitcoin a Automated Script Method which ask the holder every year if he/she was alive or dead. Then give some info about family so the love ones can access the Bitcoin even though the holder died. Its a waste if you die then your investment cant spend or your family does not have the access to use it. .
The only one who know my coins investments, wallets, private keys, is me. So the question is how to inherit this information to my family? to give them privilege to access it after I passed away .
.This can only be done if you include it to your last will which is prepared by your lawyer. This is a bit risky because you need to supply all the information needed. To ensure that no leak of all your information that concerns the cryptocurrency, it's good to have a signed contract between you and your lawyer where he/she is liable for any leaks that may happen before and after you diedededed
If you want to inherit your coin to your family when you die, maybe the thought of people is to make a inherit letter that containing information about your coins, but this is a bit risky because you have to tell your key wallet etc, i think you have to start teach your wife or child about coins and how to manage them, so that if one day you die, your wife or child can continue to manage the coins you inherit.
That may be possible in the near future and KYC are going to be the next thing to ensure more improvement to cryptocurrecy as a whole. Or simply just let our family members know about the account details in case anything happen?
Explaining bitcoin as an investment is easy to understand since it totally falls under the aspect of any other investments (bank investments, bills, treasuries etc.). Regardless of the value of bitcoins in the future, it is still an inheritance that forms as a bonus. They have the authority whether to spend it, or keep it in taking advantage of its volatility. Regarding your question, you can always keep your coin in a wallet that is commonly-used by most individuals in order to reduce the risk of scamming in the long-run or you can also create multiple wallets if you think that it will solve the problem of scamming or hacking.
good question never thought of that! especially if you die/get killed unexpectedly. as uncomfortable a conversation as it may be with your spouse/sibling/significant other, I do agree that it's important to have a contingency plan in place, especially if you already have a sizable amount invested in crypto. it would be great to have a crypto custodian, if you will, that would be tasked with presenting the otherwise confidential wallet info, portfolio, etc to next of kin in the event of death. So, similar to an attorney but someone who is specifically tasked with providing that info and that info alone. Since cryptos are all unregulated, a code of ethics may not necessarily apply to attorneys and so, as many have stated, you can't necessarily trust one 'to do the right thing' if/when the time comes. then again, a Crypto Attorney may very well be the next big thing once a Digital Currency Law becomes a thing!!
That may be possible in the near future and KYC are going to be the next thing to ensure more improvement to cryptocurrecy as a whole. Or simply just let our family members know about the account details in case anything happen?
I've been working on this problem for over a year now and have published some free resources for the community to use. Take the templates and make them your own, delete whatever doesn't make sense for you (including the references to Third Key Solutions if you want) and add the things that do. Good luck!
Humans Die. Cryptocurrencies Don't. https://medium.com/@pamelawjd/humans-die-cryptocurrencies-dont-d392627bb15c
Letter to Your Loved Ones. A template to help your heirs understand your cryptoassets. https://medium.com/@pamelawjd/letter-to-loved-ones-a-template-for-your-crypto-estate-planning-4ee0975434e4
Humans Die. Cryptocurrencies Don't. https://medium.com/@pamelawjd/humans-die-cryptocurrencies-dont-d392627bb15c
Letter to Your Loved Ones. A template to help your heirs understand your cryptoassets. https://medium.com/@pamelawjd/letter-to-loved-ones-a-template-for-your-crypto-estate-planning-4ee0975434e4
in my opinion, we should give positive feedback to our families about this bitcoin.karena bitcoin become one of the digital currency which is increasingly recognized by many countries. so from this bitcoin result we have to give and teach to our family.
The only one who know my coins investments, wallets, private keys, is me. So the question is how to inherit this information to my family? to give them privilege to access it after I passed away .
.You just have to teach someone else and that's it. If they don't understand it then just take note of it on a simple explanation and up to them how they will able to understand it. Once you left this world (knock knock lol), given that you already gave them some informatoin about your concern, they will push themselves to know what those really are and I think they will get an assistance for other persons.
Just be sure that their effort will be worth it and not at the end of the day, they will just saw a BTC0.005 stored coins. lol.
before I leave everything I have I have made a wallet and secret key to pass on to my family and in one of the family, I will teach like my sister to know about bitcoin so my sister can hold what I have inherited to my family so I do not worry when I'm not in this world or die. because one of my family can understand the crypto world so my sister knows access to all the inheritance I left behind.
To make a will for the possession and disposal of crypto currency, you first need to know whether the crypto currency is recognized as property in your country. If not, then the will does not help here. Better, of course, in case of death, leave your heir printed addresses and wallets keys, or, even better, save them on a separate memory card. It is desirable that the heir should have an idea of how to use it all. All other options are very complex and based on trust.
I keep an envelope in my safe of my private keys, passwords, and instructions on how to recover wallets. I figure someone in my family will find it if I die. Putting it in a will is not a bad idea, but I have to wonder if it safe since wills are often reviewed and handled by lawyers and their staff ... you may be exposing your info to god knows who.
That wpuld.be quite tricky especially of the people i'm supposed to leave my btcs with don't have any idea what it is. Keeping a ledger also would mean that i have to introduce and teach them about bitcoin and crypto and that's where the challenge mostly is. If ever i gather a significant amount of btc for inheritance, i probably would teach them slowly about it.
This is the answer to it.
You will need to leave two flash drives. One for the account and another for the video that will teach whoever will inherit it.
Then, it will be up to them what they want to do with the coins. You wont need to worry or you cant worry because you are already dead.
I will give them my private keys and seed phrase wallet. but right now they don't even know how i am doing. I printed my bitcoin address and wrote down my private keys and store it in safe places just my two sisters know about it.
I thought of this as well. We will also be digital in terms of future heritage. If you ask me. of course you will teach that you will give your private keys and other important internet income. Because I do not know how to unlock your wealth. You can give it to your child especially that it can pass on your knowledge and your valuable resources
You are a wise father. I would do the same someday. Better orient them about crypto currency, specially your spouse. Let them become responsible to keep the private keys safe. Its like a pot of Gold inside your house that can be stolen if not properly kept.
Personally, I have left multiple copies of my Ledger Nano S and wallet seed's in family safes. Currently none understand the concept of private keys and seeds, but I hope to purchase another Ledger NS to demonstrate recovery process once I am able to help educate them on crypto and the importance of seed phrases.
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