Topic: Make sure you have a contingency plan for your assets (Read 900 times)

Sorry about your dad wishing him quick recovery.

Like OP has said,it is important for you to introduce someone among your family members,I don't mean extended family,I means from your children,wife or husband, like he said ,he saw his mum struggling to manage the financial aspect,and his dad is lost in his condition, imagine what could have happened if OP has no knowledge of Bitcoin? would he have been of help to his Mother's financial issues as at the period of illness from his father's Bitcoin investment , even if he was called upon at least they don't have to start looking for or borrowing money, OP saved the situation because his Father must have trusted him with some of his Bitcoin information.
What if you find yourself in Op Father's situation and your family is struggling to survive,and no family members is aware of your Bitcoin investment details,no money to meet up your hospital bills,then your health keeps deteriorating until you were able to survive the sickness,who are you to blame, seeing your family not able to take care of you up to average standard of living, therefore pls try to see one sincere and trustworthy person in your family he /she is by your side, entrust your Bitcoin seedphrase and others to that person.

Our basic goal in investing these assets is actually to be enjoyed by our family after we die. Of course, although many negative assumptions will come if the assets we have are later divided incorrectly or not on target. There are several things that need to be planned for the distribution of assets before we die at any time and assumptions beyond expectations usually come from our own family or the female side (our wife). As you said, bitcoin deserves to be inherited by those who deserve it, of course.

I have never met anyone like that in my life, from family to friends. Everyone has their own self-esteem, even if they are in trouble and I am willing to help them, they will refuse, let alone take advantage of me.

I agree with you on this, I also don't like to brag or show off. But it's not that I'm afraid of people taking advantage of me, what I'm worried about is that showing off will create distance between relationships. Some people will feel inferior or some will be jealous of each other when there is a big difference in wealth. That is why we live together or play together but rarely ask each other about income or assets, which is not good for our relationship.

Thank you so much Obim and everyone else for all of your kind words. The last week or so has surely been crazy but I am happy to report that since I’ve come and gone from my home state where the majority of my family resides my father is doing much much better. The first day he could only still speak a few words and over last week I was able to see the progression day by day until my final day there when they cleared him for rehab. While I was there I was able to help my family gain access to my father’s accounts. I will say that my eldest brother and I took it upon ourselves to aid my mother with this- she was surely overwhelmed. I was able to find my dad’s whole life insurance policy and found a new line of accessible money without interest due to its cash value which will come to the rescue for my mom. My dad was just about to start a very high paying job but it was delayed due to city permits and that must have been causing him so much stress. He was laid off from a very lucrative position about 8 or 9 months ago just cruising collecting unemployment and now Medicare since he is of age. I do know that my parents took the J&J vac and I suspect that was the major culprit in this stroke, I told them not to take it. Alas my dad seems to be regaining his strength and only rehab and physical therapy can do the trick. As far as trusting your family family is all that you got, it’s sad if you can’t trust them but believe me I understand that background and I think everyone and every family has at least felt their portion of breach of trust. The very woman who was there as soon as I got there was my conniving aunt who stole the entire family fortune on my moms side and I told her to get the hell out as soon as I got there. Ugh. It’s something truly words cannot describe how much of a shit head she is and the manipulation to my mom her whole life and theft of my mothers inheritance from that grandfathers side makes my face red and smoke come out of my ears. However, my siblings and I and mother and father have all remained close for the most part and it not majorly together than at least close separately amongst ourselves with our busy lives that we live. It’s funny the timing because I already had my flight booked to come and see my siblings for this very trip but to go on vacation with them, this is our relationship and we trust eachother fully. Anyways, it’ll be a long road to recovery for my dad but I do believe he is getting better by the day and for that I am truly greatful to God and thank you all for your words of encouragement and prayers 🙏 please do continue to pray and again make sure your family is set up for success in this area.

It all depends on your environment, but I'm almost sure that there will be several people willing to borrow from you when they find out that you have become a wealthy person, and most likely they will not repay the debt if you give it to them. I always tend to think that money loves silence, there is no need for strangers to know about my financial situation, and it is better not to advertise it too demonstratively, it seems to me that this is unnecessary, but not everyone shares this point of view, there is a type of people for whom status is of great importance and they try to show it in every possible way.

Sorry for your dad and I wish him a speedy recovery.

As for me, I thought about it before, but my children are still young and cannot take responsibility early and my wife does not know much about dealing with Bitcoin and cryptocurrencies, she basically does not know how to deal with computers well, so it will be difficult for her to take care of these matters.

Sometimes I think about putting all the seeds, passwords and important data of my exchange accounts and so on in a password-protected flash memory and keeping it with my wife to hand over to the children when they grow up in case something happens to me.

Are there any differences between cultures and how people treat each other in each country? Is it true that people will rely on us or ask us for money if they know we have a lot of money? Do they really do that or are we being too suspicious and thinking badly of our loved ones? Honestly, that rarely happens in my area because everyone has their own job and their own self-esteem. Asking or demanding money from family members is considered insulting and only shows that you are incompetent and will not be respected by others.

I think the problem is that inheriting bitcoin seems more complicated than other assets because if someone has our seed phrase, they can own all of our bitcoin. You are right about this.

That I can agree and sometimes it's easy for us to say that we can just open up a little to our loved ones but that's not that easy especially when you're put into a position like that, you can never expect yourself to break your generational curse that easy just because people told you so, sure there's the fact that you can do it with sheer will and discipline but that's not all there is to it. Probably the best thing that could've been done in this situation is that you should have a way for your kids or next of kin to be able to access your stuff, I think that should be a thing no matter what is the state that you're living in, make sure that the things that you cherish the most should be passed on.

Sending up prayers for your Dad for fast recovery mate. He would really be alright.

In regarding about the situation then this is indeed something hard when someone whose the one taking care all the bills will be having some health issues on which it would be resulting into some possible
problems on how to make things still be in order specially on business or financial aspect then it would really be hard if there's none of the family members isnt really that knowing on what your father is doing
or someone whose really that the one who raises up the family. As a husband or father then the only one whom you can trust is really that your wife. If you are assets are really that put up on crypto space
then it will really be ideal that you should really be teaching her on how to managed it out on the moment of emergencies or the time that you cant be able to do so.

I do agree into those sentiments above that it would really ideal always that  you should also have that physical business in real life and not really just that fully focusing on crypto
so that in case if there would be some emergencies then the rest of the family do knows on how they would really be handling it.

Apart from people avoiding not to allowing their love ones not to know about their bitcoin asset because they may think they have so much money to rely on, some people feel Bitcoin is not an asset to disclose to family members and not also an asset that can be handed legally because of security purposes. Every other asset physical, fiat in the bank are handed to to the legal team and it is still safe for people to inherit even after the real owner is no more alive,  but people always think the same can't happen to bitcoin because it is something that can be tampered with if someone have access to the seedphrase.

Inheriting bitcoin needs proper planning, to understand the people you are surrounded with, if letting them know about an assset like bitcoin is safe or not. If it is not safe telling them, is to make a better plan concerning inheritance that will be safe for the future.

About preparing everything regarding the assets owned, investing in crypto or even other assets is indeed very important.
Now I'm starting to organize all of that, starting to educate my wife about what to do when I'm not around and how to manage those assets to be able to sell in an emergency.

It is not easy, but it must all be done to rescue this formless asset.
I fully own the assets in crypto and some property assets that have indeed been converted in my wife's name.

I made things easier, started giving my wife access to all the assets I owned, and when that happened, everything was under control.

I pray for OP's father that he is always healthy and recovers from his illness soon.
It is not easy to face all of that, but you must live and do your best.

Wishing your father a speedy recovery, sickness isn't something we should be joking with and we have to be prepared at all time as we don't know what is going to happen to us that'll make us not bee able to make money again and we have to rely on the money that we have made before we got sick. Having different investment and not only Bitcoin is a good way to plan for our future and we also have to get sold plans on how our assets are going to be managed when we're not here anymore or have some health issues. Not having all our money in one assets through trading or investing will help us or any individual managing our assets when we're no more.

I can imagine how you feel because I also experienced it when my grandmother was sick which required her to go into the operating room and ended up in the ICU (intensive care unit).
I hope your father recovers quickly from his illness so he can joke and laugh with his family again.

Long before an incident like this, it would be better to give full trust to one of the family members to be able to manage the assets because no one will ever know what will happen tomorrow. Luck is still with your father because he has the opportunity to tell family members to manage the assets that have been collected so far. What just happened to your father is an important lesson for all of us that trusting family members is very important so that their assets can be saved and enjoyed by other family members if something undesirable happens to the asset owner.

I think it's still a case to case basis, when someone is dying who holds Bitcoin, they're for sure going to let their loved ones know and give them instructions on how to obtain and generate its wallet for them to enjoy the value of it.

That makes sense but you can't blame those family members that have Bitcoin and they want to remain silent about it. We're not all the same about our perspectives and beliefs why we want to keep it hidden from our families.

praying for my father to get well soon and return to his normal activities,
Actually, emergency funds existed before crypto, it's just that people are lulled by luxury and they don't realize bad things in the future that require funds, I personally prepare emergency funds in the form of crypto and savings in banks where bank savings are an alternative if crypto is not doing well, such as experiencing a decline and we need money,

I have also asked this question to some people when they said they do not trust and do not want to disclose about bitcoin to anyone in their family. After all, bitcoin is just money, an asset like any other. If we can reveal other assets to our loved ones, why can't bitcoin? It's puzzling that some people claim they'd rather let their bitcoins disappear with them than leave an inheritance to their loved ones.

If investing in bitcoin causes a split in the family, people are skeptical and wary of each other, then I believe bitcoin is a bad investment for that family rather than a good investment.

First of all, just seeing this from the OP, it's something disheartening to witness or hear about, my prayers be extended to your dad and I hope by now he must have been quite better since the creation of the thread.

Coming to @MeGold666, you have said according to how you see the whole case but I think on me it should be something not to brag about, if you check around every member of your family and can't find a single person you can trust then it's a big problem, which means even you is the same and likely no any member can trust you when it comes to finances. I think if any one should be proud of their family then I should be, currently I know my stance and who stands with me because with how far we've gone and what we both went through, he deserves to be trusted and I feel more at peace knowing that my whole assets can be extended to someone if it calls for my absence.

I agree and I think the thought that scares many is that when people hear about Bitcoin, relatives or not, they think that person is rich already. They have a misconception about that person but the reality is that he's also another investor just like the others with assets. And they're afraid to become heard by their relatives because they might just ask them for money repeatedly. This is a typical thing for those cultures that are family oriented but it changes of course because of what's happening in this world and there's no assurance and so as with the money from investing. Someone is just protecting himself from them being asked and being sucked but it's true that they shouldn't be scared about that and they have to inform their immediate family or closest relatives about it.

Considering that bitcoin has a very high value, bitcoin should be considered an inheritance that can be inherited.
Just like any other asset or your money in a bank account, you can trust your family to know the whereabouts and total amount of that wealth, then there is no more reasonable reason not to trust them with bitcoin.

Some people may be afraid or paranoid about something dangerous for themselves if they tell their family about their bitcoin holdings, but they are never afraid about other assets that their family knows about. I don't know the exact reason, but bitcoin deserves to be inherited by those who deserve it.

Ah, Yeah that's my brother haha, nice words, Bro let me tell you if your parents are not good to you in your view, there's a fault in your understanding, not only for parents in any relationship. Buddy if you want someone to take care of you better be ready to support him/her/them in any condition.

Honestly Love, Humanity, Care, and Selflessness are what give value to your life, If you want to die like no one remembers you in good after your death then eat, drink, earn, and die also trust no one. A selfish approach cant get anything in life. There should be boundaries for trust I know but in your social circle not in your relationships.

Haha I'm not a relationship advisor, but the first priority should be to get good relations with your parents/wife/children and friends. Money is not that important what is important is your relations, your health, your faith.

Wishing your dad speedy recovery, entrusting personal details about our bitcoin can be difficult for most people because of past experience and they never had the opportunity to express their feelings out. Trust me when people decide to hide their personal details they do that because they have no one, growing up without support or having a family that doesn’t support and care can lead to hatred and it affects trust for everything. I sincerely agree with op because it’s right to always have an alternative probably when a person is dead the children can take over, people invest in bitcoin for future purpose whereby their kids inherit the wealth and continue investing, we can also say same for organizations and companies when the CEO is no more.

People were not doing it over the years but now people are making preparations even legally for anyone to inherit their asset when ever they are no longer alive it won't waste their will be people that will be able to inherit it and people in this forum have asked a lot of questions about what will happen your your Bitcoin after death and their have been a lot of suggestions. On how to make transfer for your assets. Everyone will have to make a choice of how they want things to go, when they are no more.  You can even involve a lawyer when ever you want to claim is just for the lawyer to give all the necessary procedures and information and that way their won't be drags since their is a legal baking it. When they claim when you are bo more is even more better because when you let them claim when you are still available might just pass you of with what some of them will do with what you have protected and worked for years.  The only thing is that any decision i will regret will be after when am no more.

I'm sorry to hear about your dad and I wish and pray that he recovers very soon and stays healthy afterwards.

Talking about the topic of sharing your personal information regarding where your assets are stored, I would say the best way to go about it is to have a safe and keep the details in the safe and let someone very close know that all the information or the physically available money is kept in that safe. You don't need to give access of the safe to anyone as long as you are doing okay, and if something tragic happens to you, they can get the safe unlocked from a professional lock breaker and access the assets and the information.

This way, you won't need to entrust everything to anyone and you will also have them handed over in case something happens to you. People who are concerned about giving access to their assets to others thinking they might get scammed or deceived out of their money can use this method.

We have discussed about BTC inheritance plans and strategies so many times in this forum, so it is up to everyone to do what works for them. If you trust your family enough right now, then you can let them in on information about how to claim your coins if anything happens to you, if you do not trust them well and you think you'll be putting your coins at risk if they know, then you can use a strategy in which they only find out and claim the coins when you are actually no more. Think every strategy through before making any decision, so you do not regret it.

It's sad to hear that you live in such a miserable environment, even your own family is like an enemy that can eat everything without any sense of humanity. It's sad and it's appropriate not to believe in anyone, even a mother who has given birth to her own child as her flesh and blood still doesn't make you believe. Believe me, there will not be a penny that you will bring after death, you don't trust anyone and vice versa, so when you die no one will believe it or even bury you properly.

Ah he pretending to be dead

It doesn't matter with the decision of assets owned in any form, because before we die at least we can give them the option to survive in order to live more properly.

no one lives in this world alone. 

Greed is one of the reasons why people cannot be trusted. They always want to get more from people through the hook or crook. Family members, friends and business partners have been murdered or robbed because of money. But it will be better to entrust your wealth to someone instead of losing it. If you keep waiting for when you will meet the perfect person to handle your wealth when you are gone, you might never find anybody.

Apart from having someone that you can tell about your crypto investment or your assets, you can still document everything and keep a trace to whom you want to find your asset when things goes wrong. You must not trust your asset with someone if you don't want because some people can change and turn against you when things goes wrong, so best thing you can do is to document your asset and keep a trace to how it can be access.

You can give half of the information to your wife, another half any of your trusted relatives, another to your trusted siblings and to your kids. It must no actually follow that order but am just using it for example and the essence is for one person not to only have the information and claim it for their self alone.

Don't worry your father will recover soon. I pray to god for his earliest recovery and hope he gets well soon.
Coming to the situation, yes, you're right that everyone should have a backup plan just in case of any mishaps.
We should be very careful when we decide whom to tell about our holdings and how to access the funds.
Ther person should be someone whom you can trust blindly because you won't want your closed ones be the reason for your mishap.

May your dad, get well soon, Father is one of the biggest blessings for everyone, pray for them always.

Everyone has to die one, maybe the next day, next month year, But all of our financial struggle as a father, son, and brother is to make a living better, to keep our loved ones safe, to provide a better living standard to those whom we love, in the end, we can't get anything into our grave, so share love be kind to your parents, children. As far as it's concerned with investment and financial decisions, taking risks is good but the risk should be under control, gambling with funds cant help you anyway. Also, share at least all your plans with one person from your family to ensure the reliability for getting emotional support and anything unexpected.

If we have something for our family, something worth for them, we must prepare that for our family future so they can use that without having difficulty. We don't want to see their lives in difficult so we can tell them how to use that and continue what we do and they can use that for their own good. Every member of family needs to unity and solve the problem if their family have that so they can do other things to keep survive in the hard things. If we have crypto especially Bitcoin, we can teach them how to use and how to grow it and make sure they can do it with right after we pass away. But that will depend on each people because they must have their plan what they will do with their legacy that they will give to their family member.

Estate planning is essential. There are countless stories of economic problems because people do not plan what to do when they die, they do not leave an inheritance or at least a clear one with everything detailed and in the case of crypto assets that you may have and do not want to leave in writing what to do, you must also have a plan to pass them on in case you die.

You simply have to recognize that there will be a day when you will not be in this world, and that your loved ones will be much better off if you leave everything well planned than if apart from mourning your death, they have economic problems.

It sounds very sad if that is the case. Indeed, a person's character will change 1000% if they have mastered it, but if we, the owner, seem to have prepared it all well, it means that we also follow the applicable legal rules in the area where we live, especially in the distribution to the heirs later after death.

Another way is to provide valid documents as evidence later to the party we appoint Through the private key storage service in the crypto exchange with the Shamir Backup method.

Writing a will about the assets that we have, of course, this will be very useful if something happens and other family members can continue to carry out the abandoned investment properly and before all these things happen, you also have to give a good understanding to your family members because without giving them a good understanding of this, of course, the will you leave cannot be used, of course this will be very It is detrimental because you have worked hard to collect but no one can enjoy the results you have collected, so it is very important for anyone who invests in physical or digital form to have someone they can trust and tell them the assets they have collected so that it is not in vain.

I am sorry to hear that, it is always a very difficult situation when a close family member is going through a disease or condition that severely affects their life, and without a doubt this can put a family into a massive economic stress, years ago I had a health scare and I immediately put everything in order in the case something really bad happened to me, fortunately it was nowhere near as bad as I thought, but since then I have avoided that topic as it is not really something people want to talk about, but I suppose it is time to once again look into it.

There are 2 problems related to finances: how to save and how to preserve. Methods of saving (and transferring to heirs or trusted persons) are related to having a plan of action for unforeseen circumstances. Life is unpredictable and it is impossible to foresee everything in advance. This is a fact. The question of who to trust with the management of your crypto assets is especially acute, because most crypto investors are at that age (middle-aged people) when children are still too young for this and more likely trusted persons may be spouses or close relatives (in some cases, friends). We are not talking about inheritance, but for the period while health and capacity are restored, as in the story with OP's father.

Initially, it would not hurt to include in this topic a vote "are you, already have a plan of action for unforeseen circumstances?" and "to whom of your close people are you ready to trust (temporarily) with the management of your finances?""

In pursuit of financial assets, one should not forget about the social (asset).

If there isn't anyone to trust with your investment then have a good partner that you can entrust things to for your children. Life these days even your blood can turn against your bidding and wishes when you depart. I have also heard stories of lawyers ganging u with suicide squads to wipe out everyone in the family of the deceased. I think when entrusting your investment to anyone do not mention the amount that is involved to anyone. It should be on the document only so that it wont trigger anyone with the wrong motives and bad intentions to plan evil ahead against others.

Making a will for the family is very important because we do not know what will happen in the future. Now we are still healthy but no one can guarantee that we will still be healthy tomorrow, therefore I have given a will about all the digital assets and physical assets that I have to my beloved wife. If something bad happens to me, I hope my wife can use all the assets that I have as best as possible. Currently I have no fear or doubt about losing all the assets that I have because my wife already has all the private keys to my cryptocurrency wallet.

Sorry Op for your dad's health condition, i wish him speedy recovery.

Trusting someone or family member with your assets isn't a bad idea but before doing so, there are lots of things to consider.
Anyone can change anytime because he or she is a human, the person you may entrust with your assets may wake up one day with another  motive or thinking to use up your funds either for himself or for the family without thinking or acquiring for the best way it should be used because he does not know the value niether did he work for it. Sometimes due to insufficient knowledge your funds can be misused or they can fall prey to scammers.

In my words, its better you manage your assets by yourself, no one can handle your assets better than you because you know what it's takes to make money but if you feel trusting someone with it is better than that't fine as well.

Surely, it can be very bad in most cases that among any of our family members we could not be able to find anyone worthy enough to be trusted, this issue has been bothering me alot but however, my advice is that among our family members(especially blood relatives) we should be able to least fine that very one person that we can at least have a certain level of trust in then and disclose certain things to then when we have all the time and energy to do that, well i wish his dad quick recovery so he can do the needful before it gets late, i also urge others to learn from other people mistakes as to this regards.

It's his choice and he's happy with it so we don't need to argue with them anymore because it won't change anything . Even the love of loved ones can't change their minds , so is the advice of strangers worth listening to?


If he can't even trust the one who gave birth to him , then there's no one else worth his trust . I bet he never wondered why he wouldn't be alive today without his mother .

I also wouldn't be surprised if he gets married later and his kids treat him the same way he treats his mother .  This world is very fair, how we treat others ,  we will receive the same in return.

I'm sorry to hear that mate, and I do agree, we should be prepared for anything that comes into our lives and the only thing that we can do is to pray that something bad will not happen to us as we could be thinking that there are still a lot of things that we can do specially if our children our very small and going to school.

However, it's really hard to at least have some contingency money at hand or if we really have said enough for us and for the future of our children. As far as crypto goes, it could be one invested that we are holding for now as it could give us a good profit that can still provide us in the future.

Prayers to you and your family at this time and hopefully he can recover.

The Lord is your father's strength, I pray he gets better in no time.

If you don't want to be bothered about your father taking risks on risky assets then help him convert the coins back to Bitcoin, unless you are very good just like your father when it comes to handling risky assets, I think you should be though because you are not a newbie on this forum.

I don't have to worry about what will happen to my crypto asset if something unexpected happens, my other half knows what to do and we have discussed this so many times already, I know how serious it is when it comes to life-threatening situations, we are not promised tomorrow like you said so we must always be prepared for any possibility.

I am very sure that many people choose crypto investment because of its hidden nature, where I come from there are many family feuds and trust issues everywhere, some people won't even dare to leave valuable things in the reach of their families, having valuable crypto is like knowing you are worth millions without anyone knowing.

First of all I am sending prayers to the recovery of your father and I am sending support to the rest of your family as well. Second, I am glad that you seem to have some idea about crypto already but in some families not everyone would be so familiar. I would recommend anyone with valuable assets that need maintaining to appoint a legal or professional advisor to handle all of it. Sure a family member would be trusted but would they be of any good in handling these finances?
Like I said your father is lucky that you can help but not everyone would be able to understand and do a good job of maintaining one’s assets especially in an industry like crypto. Especially if your loved one is not tech savvy, teaching them might just a bit fruitless. So for me a trusted advisor would be the ideal scenario but I would still make sure that my partner or any loved one knows at least my assets and can check if there’s any suspicious behavior from my advisor.

Woah there, we are getting too meta.

I'm pretty sure I have no problems trusting myself either, he's talking about immediate family who you can't choose who you get. I wouldn't be leaving any seeds for my own folks either at this rate - they'd just squander it.

Wishing for a complete recovery for you dad. I agree that we should have contingency plans of how we're going to distribute our holdings whenever some unforeseen things happen to us. For me, it's actually a good thing that we're planning on how to pass on the inheritance that our kids might have and they'll be able to use it for their future as well so that they won't have a miserable life.

It's not that easy to teach Bitcoin to our loved ones when we're on a situation that we can't barely move or we are going through between life and death situation. We can make notes and instructions on how they can retrieve our Bitcoins through our seed phrases or whatever is comfortable to you. I have done that already and told my family on what they should do if I'm gone on an instant or I didn't wake up anymore one morning.

Am happy your Dad is recovering faster than should and am sure his main motivation for getting better soonest is the assets he has that's not safe from volatilities and the ever changing cryptocurrency market.
Am sure there's what's called next of kin in your region and although I know that there's hardly a next of kin option for cryptocurrency wallet  users and exchanges, unless am not aware of it, then the best bet for any investor not willing to loss their funds or assets in the future due to such excuse of sickness or sudden death, is to entrust some key details and information to a child or spouse or lawyer or relative that's closer and trusted to some degree, incase such a need arises that demands liquidation to solve such problems.

That's a big dilemma, really.
I trust my family and some close friends, but they too are not into crypto that much.
They can always be taught about it, though.

If you want to leave something after your death but don't want to get robbed while being alive you have to diversify your investments into other assets like real estate or gold.

Cryptocurrency was meant to be used more casually and can be seen as an investment but for sure it has too many problems to use it as a decrease.

There are just too many better, safer options for that.

People on forums like this are very close minded when it comes to other investments, they see crypto as the ultimate and only investment you should do - it's... lame.
Same goes to every other one asset oriented forums like precious metals etc.

Granted.. I have all my money in crypto right now (aside from few properties), because I don't trust my corrupted government.
But I also don't care what will happen to it after I die.

Someone could write an Ethereum based contract to release funds on some conditions but this contracts are hacked all the time and I wouldn't trust anything that runs on that cluttered nonsense.

Very sorry about your dad's health. I hope he gets better sooner. About your advice, it is something I agree to and totally recommend for everyone. Nothing indeed is promised except this moment we have which is called the present. It takes a visionary person to do this and it entails a lot of sacrifices and delayed gratification in the eventuality of the unknown. Even if one is not into crypto, whatever you do have a savings and investment funds that your kids can have or maybe your wife. And if the family is doing well financially, at least something for the less privileged in the society.

I have two people I can trust with money, even though it's not completely. Other than that, I don't trust any other person. It's not an ideal way to live, but it gets me through. I don't like it, I like trusting people close to me, but I don't have a choice because I'd be a fool to do that. I haven't really looked into it because I don't have that many assets yet, but I believe there are ways to make sure your asset gets passed to the right people in case of your death.

The problem I have is that the people I trust don't live close to me and they don't have any idea about how what I do works so I cant even rely on them to do things right if any thing happens to me.

Firstly, I sympathize with you and your father. But you should also understand and be prepared for the fact that a stroke always leaves a mark, and you should understand that things will not be as they were before.
But the fact that many here now agree with the statement that we should trust our assets to our loved ones does not fit in with other posts on other topics where people refuse to trust someone. I always remember that we are not eternal, and we must have people nearby whom we can trust to manage our funds in the event of unexpected situations that happen to us, and also so as not to leave in danger those for whose lives we are responsible.

On the verge of healing your dad needs to erase the worrying part, this will only slow down his recovery, I am sorry that he is going through this right now and I hope he gets well sooner.

A word of encouragement, make sure you ease him of his worries, even if his assets aren't been managed well tell him that things are under control, nothing else matters right now than his health, not even his assets.

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For the planning part, not everyone has the same family as yours, some people are all alone by themselves, some do have family but there is big absence of love and affection among them, some people would rather die leaving their assets in their cold wallet forever.

Fast recovery to your father, my prayer to him is already on the way, God is in control.

From @OP story, it is clear that we must have a plan for our crypto so they can access it when we are pass away. We can teach them how to use Bitcoin so they can continue what we did and can do something with our crypto while they can search for more information. We don't know what will happen in the future but if we can prepares that with our plan, we will see our family can do the best thing with our legacy. I am still teach my wife about crypto so she can continue what I've done without a problem if this is my last day. Although I am still worry if she have a problem someday, I am sure she will be fine

We hope your dad will recover soon and we pray for your father. You can besides your father and telling him to keep his spirit and not just give up with the situation. Someone can recovery from stroke but that will need a big effort because many people are give up when they are in the hard situation.

Situations like that remind us how short life is and how suddenly we may find ourselves doing what used to be the job of another family member. On one hand it's great that people divide responsibilities like in the home of our OP where mother probably took care of the house and the father dealt with money and investments but on the other hand when one of us gets sick we begin to struggle. I don't know how to fix that because you can't expect both mother and father to be able to take care of everything all alone.

This is what you will hear from your attorney when he robs you out of everything  

He/bank will also reveal everything to authorities if they get such request, you're on a plate ready to be served.

My trust in people is ZERO because I have too much to lose, maybe if I had only couple hundred K's I wouldn't be so paranoid.

I think access to your crypto wallet should not be shared with anyone and if you want to have a backup plan for your family you should just diversify into other assets that can be easily transferred after your death like real-estate / etc because they can't be as easily stolen as crypto.

I have said that before, who you trust may not be the same person I trust, it differs for different people. You are the one living the life, so you can decide who to trust and entrust such vital informations to, no one will hold you questionable to your choices in life especially your wealth.


That doesn’t still mean there won’t be any exception to some people that are Attorney who can be trusted.
 Peace out ✌️

This is the worst possible way, I would rather trust directly my family members than my attorney or bank.

Robert Graham (Nevada Attorney)
Case Summary: Robert Graham, a Las Vegas attorney specializing in estate law, was accused of stealing over $16 million from the trust accounts of his clients.

Tom Girardi (Girardi & Keese)
Case Summary: Tom Girardi, a prominent Los Angeles attorney and the husband of reality TV star Erika Jayne, was accused of embezzling millions of dollars in settlement money from clients.

Marc Dreier (New York Attorney)
Case Summary: Marc Dreier, a Manhattan attorney, ran a massive Ponzi scheme that defrauded investors out of more than $700 million.

Timothy Dennin (New York Attorney)
Case Summary: Timothy Dennin, a New York attorney, was accused of stealing over $500,000 from his clients' escrow accounts.

Scott Rothstein (Florida Attorney)
Case Summary: Scott Rothstein, a Florida attorney, ran a $1.2 billion Ponzi scheme through his law firm

Ronald Slayton (California Attorney)
Case Summary: Ronald Slayton, a California attorney, was convicted of stealing over $4 million from his clients by pocketing settlement funds meant for his clients and their medical providers.

I can do this all day - the list is long.  
Do you also want a list of inside jobs where bank vaults were robbed by the employees ?  

Remember - if you really are worried about not leaving anything, you don't have to give access to 100% of the funds, give your family access to 25% or 50%.

At least you’ve given them something they can use to have access to your savings when you’re no more, it’s different from not even dropping a clue or something to rely on and have access to the portfolio. Hardware could be the best way to do that, but for some people, they will use other methods, just like the one that prefers to give the private keys to the attorney to help save in the bank.

What you need if you're worried about not leaving anything to your love ones is a hardware implementation of "Dead Man's Switch":

https://www.deadmansswitch.net/
(DO NOT use it for seed phrases)

If you would lose such device, you would simply transfer funds to another address before it unlocks itself.

Seeing how much concern is around this issue, I think it's a good business plan for someone willing to design such device.

Cryptocurrency have clearly explained the reason for its existence but still we can’t overlook this aspect and not wanting for someone to benefit from what we have after we are no more, it is more like keeping and saving money that you can’t take along with you when you’re gone, who then should enjoy it, your loved ones? Charity organizations? A friend or who?

Even the fiat we use today and are stored in banks, there’s always a next of kin that will have access to the funds when you’re no more, but since it’s a third party system, they can always have access to your fund and give it to the rightful person you used as next of kin when you’re no more. I don’t see the reason why you’ll keep everything anonymous, there must be someone you can trust if not how have you been living your whole life happily?

The whole reason Bitcoin exists is because we can't trust people.

Some people need to put their hand in fire to realize the danger.

If we could trust other people, cryptocurrencies wouldn't be needed.

May your Dad be well again tread93. Having a plan for your assets is very important especially for the digital assets that has lots of security in order to have access to them. Those that have lost their private keys in the early days of bitcoin still do not have access to their portfolios, that’s to say how this keys are important to pass that wealth you’ve been saving to your generation when they want to have access to the wealth you’ve kept for them. It is good to have privacy but I believe there’s always someone that you can trust and will have access to your portfolio later when the need arises.


If such people have been caught several times stealing and lying that doesn’t mean they are all the same. For him to have given his private keys to an attorney does not make it vulnerable to be stolen if the attorney is a trusted person he can rely on. Who you know and trust may differ from the person the other person knows, it’s just the way life is and it may not even be a family member because sometimes most of them are wicked and will do for you what you never expected of them.

True love is what got all this men in trouble.

I have what you call true love but I don't mix love with money.

Sorry for the health issues of your dad. Life is unpredictable so we always need to prepare for the worst. Greed and materialism have made the world a very risky place and trust a very scarce commodity. However, if you don't want to waste your assets in time of sickness or death, you just have to trust someone. It could be a family member, friend or an attorney.


Finding true love these days is almost impossible. Women pretend to love you when you have the money to pay their ever-increasing bills. But some men have been fortunate to find very good women who love them for who they are and not for what they have. I am lucky to have a partner who I am sure will always stand by me regardless of my condition. If you have such a person, trust becomes easy.

If someone had opened trading positions with volatile coins on a crypto exchange, maybe the best option is a stop-loss order(if the crypto exchange really offers such feature, most crypto exchanges do). Unfortunately, I don't think that your dad has used this feature.
This is the best way to preserve your capital, when the market gets hit by severe price drops. The stop-loss order will be launched automatically, when the prices drop below a certain level and the volatile crypto will be automatically sold for stablecoins.
The topic about crypto inheritance has been discussed multiple times in the forum, so I don't want to start it all over again.
I wish your dad a fast recovery.

 My prayers are with your dad and I hope he gets a speedy recovery. It's important to secure your assets Incase of unforseen events so you don't get caught stranded. The most important thing about situations like this is having trust because without it, there's the possibility of engaging in financial activities that no one knows about.

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I'm seeing a particular user; I think @Megold666 being so adamant to trust anyone with his funds and he may have his reasons but if that's the best path then I don't see the need to make investments if you don't have anyone that you can trust because should something happen to you and you can't access those funds by yourself except you involve someone else, how then will you manage since you've decided to keep it all to yourself?

The plan was not just made like a part of the investment strategy but for us to seriously follow. A plan that is also quite achieving. Like what happens in your family, it needs the total participation of the members of the family to make fair decisions. Having a good relationship and proper communication could help a lot in the success of the plan, which I hope would happen to you, OP. 

What I was trying to convey is that investing in secrets can be extremely challenging. Many people died with some investments, but nobody from their family got the benefit of it because of no access. It is time to realize that we have to change this kind of strategy and make everyone in our family aware. 

Sorry to hear that, yeah we need to prepare for the worst.

We live in the present, not in the past, and no guarantee to live in the future. So enjoy what you're doing now.

Correct.

Why women fall in love? because men have money.
Why men fall in love? because women are physically attractive.
How to accumulate money? by working hard.
How to be physically attractive? by having money.

Many women nowadays are using men as their stepping stone.

If people want to inherit their assets, they should have prepared a last will and testament to give it to their child.

I'm so sorry to hear what's going on with your dad, but great that you're stepping in and helping your family. Currently, the crypto market has gotten very volatile, especially with big assets like Bitcoin last August, things really seemed to show high volatility. Experts suggest that investor caution is growing due to economic uncertainties like potential interest rate changes, which makes the crypto market unpredictable. Considering this, moving his investments into more stable options like stablecoins could help reduce risk.

It is important that there is a clear plan as to how the crypto and other assets are to be managed, especially when events catch one by surprise. In doing so, having a strategy for asset management may involve the creation of provisions for accessing such assets by close family members with you so as to avoid confusion and ensure long-term financial stability.

My prayers for your dad!

Like him and like majority of us I guess, my crypto assets aren't organized as if today is my last. So in the event that I can't anymore wake up tomorrow, they will have to do some searching and breaking passwords and PINs.

My family and loved ones don't know how many BTC I have, how many wallets I maintain, where backups and devices are kept, and so on. But I guess it's enough for them to know that I'm into Bitcoin and crypto that they would take the searching and the puzzle-solving seriously. If they're steadfast, they will get every Satoshi I own. If not, then let those be among the lost coins that "only make everyone else's coins worth slightly more."

I believe you can't joke with your family situations and I join faith with you and seek quick recovery for your dad.

BTW, it has always been an every day preaching that in whatever we do let's try as much as possible to let our love once know at least little to every assets we own in any way. And it's also not a new thing that we all should plan for our future and make plans for the unforeseen circumstances or the rainy days which we can predict, having an emergency funds, investments etc that can back us up at any time is a major advise that we should take for granted.

No.

People are NOT to be trusted, ever.

And they will be fine without my money, no one deserves free money.

Enough said.

Over & Out.

I know how hard it is trust to someone in this present time when it relates to money, but you should at least have a special friend or relation you can highly trust with your crypto assets when the otherwise happens. Not everyone is wicked, heartless, or greedy regarding money.

That being said, I don't think, it's the best idea to have your crypto assets lost forever than your family member or close friend to have them. We are not praying for something bad to happen, but we should at least get ourselves prepared for the worst before it takes us by surprise that we don't have anything in store for families to take care of.

However, since you are having difficulties trusting anyone, why don't you try to find someone close to giving them your seed phrase; you will purposely remove the last word of your seed phrase only to give it to someone else. Like, Your mom will have the first to eleven words of your seed phrase, and a friend will have the 12th word. It will be revealed when the unexpected happens to you. That way you have saved yourself from the abuse of trust or being screwed up in the future.

No, I don't trust even myself. Wife ? you're talking about the most abused contract in history that destroyed so many men ?

Give me a break

Firstly I wish your dad speedy recovery from this as it is a very frustrating situation. M

Now to the question of having your asset actually announced, i think we have emphasized on this topic enough most especially from the beginning of how or where you store your private key or seed phrase. There are people who disagree that this things need to be kept secret as not everyone can be trusted even family members. But for me I think we need to at least have that one person we know will be able to keep the secrets and uphold them, this is much safer than any backstabbing That will even Happen. It will be more painful to have your asset lost due to only you having access to it than it been misuse.

I disagree with you on this. I know it's risky for one to trust the next person when it comes to what has to do with money, but then again, if you don't trust anybody, do you even trust yourself? And if you are a married person, you, as the husband or wife of you, don't trust your spouse enough.
 
Why get married to them in the first place? To some extent, we need to take the risk of trusting one or two of our family members. Besides, all those wealths that you are indirectly making are supposed to be for the family, so what's the point of totally blacking them out?

Hopefully tread93 that your Dad got medical attention quickly after the
stroke happened, time is key! the sooner a stroke victim gets attention the better.

Your advice is good, its good to have a plan in place should something like the
above or worse happen, I have such a plan in place but unfortunately not everyone
can afford trust to family or friends.

You better pray this "attorney" guy is not addicted to gambling or drugs    and even without that, he is just a man like everyone else.

I would never trust any attorney nor bank as they both have been caught numerous times stealing and lying.


Bank safe ? LOL someone is still living in a dream land.
Don't you read the news ? how bank vaults are taken over by FBI and you can't do nothing about it ?
Plenty other cases were vaults proven to be far from safe, you should do better research.

You have basically traded your freedom of being your own bank for artificial safety.

Your Dad will recover and be fine. But I have learned something from your story and I won't let something like that repeat without taking corrections today. Many things happen in life we do not expect and that is why we need an attorney. Right now I don't have anyone I can trust but I have written my private keys in a well-secured letter and have given it to an attorney well saved in the bank. If anything happens to me today that file will be given to my younger brother because I have no nuclear family. However, indirectly I have been preparing and teaching my younger brother how to manage funds and invest in Bitcoin. Now he is a good investor and knows how to manage his investment i am well satisfied with the fact that I have someone who even if am ill can manage my holdings.

Don't worry my attorney does not know what is in the file as it is safe in the bank vault.

Its not profession enough for us to have all our crypto asset in one place, we must draw a plan for how to hold them, some portion should be made available for other contingencies purpose while the other aspect of our investment should be a long time investment whereby we may not have to touch except for an inevitable reason that has to do with life, we may not be able to predict on what life may offers at any point in time, but we should always be prepared for such.

Sorry to hear that, I wish your dad a speedy recovery.

I don't trust even my own mother when it comes to money and I'm not leaving anything to anyone, if I die, crypto I hold will be gone forever. To each his own.
I'm a selfish bastard and I'm happy with that  

The most important thing I've learned in life is to trust no one, especially your family as they are the first to abuse the trust.
Seen too many people getting screwed by own family, not going to be one of them.

Ask yourself, what is more probable - dying today/tomorrow or getting screwed by some family member you thought you can trust with big money.
If you already have some deadly sickness then you may think to share your wealth, other than that I think you are just increasing the chances of getting robbed.

I'm so sorry for the situation of your dad and I sincerelity hope he recover fully.  Many threads have been created on how to transfer Bitcoin wealth to heirs and I will encourage people to take those wonderful suggestions seriously because no one is immortal. Within one's family, there should be someone trusted that should know all we do even though you you will not grant them access to everything just yet. Any of the methods suggested on how to transfer assets to heirs can be used buy there should be someone that is aware of our business.

First, I wish your dad a quick recovery from his illness. 
 
If there is one thing that I have learnt and read about from o_e_l_e_o and some other forum members here, it is that we should have a trusted family member that we can trust with our holdings because we never can tell what will happen at any point in time and we don't have complete control of time. 
 
I have someone I trust, and all my wallet backup and holdings in times of emergency can be accessed by the person; it's just a matter of finding someone who they can trust and giving them the right information. 
 
If your dad's device is available, I believe it will be a little bit easier to track down activities and know which exchange he has holding in other for you to manage and reduce the risk. In such a case, a note book to write down our activities is really important as it can help anyone who is close to the person know what to do.

I have spoken on this subject in the past but it feels more real than it ever has since my dad just had a major brain stroke on Friday. I can see my mom is very unsure of how to manage the financials and it’s a very tricky spot to navigate with my dad only being able to spit out a few words at a time, I am hopeful for a full recovery. My dad is getting better by the day which is good but it’s a long road to recovery. My family can tell that he is worried about his assets and he has made attempts to tell my mother and brothers what to do, we believe he was trading all his coins into a volatile crypto right now and want to help him stabilize that. I have my flight booked and I’ll be there in a few days to help with everything but now more so than ever if you haven’t taken the time to fill in your significant other or trusted family member what to do in the event of something like this happening then you need to make sure that is in place not only for all your crypto assets but physical and anything you can pass on. We are not promised tomorrow, I am thankful my dad is alright. I believe he will recover. If you can please send prayers for him and my family 🙏

Make sure you have a plan in place so your loved ones are set up for success and never be in this type of situation.