Recovery seed inheritance tips – how family access the seed once I pass away

pawel7777

legendary

Activity: 2436

Merit: 1561

Quote from: dothebeats on October 12, 2018, 03:45:34 PM

... Or compile all your passphrases/private keys into a single flash drive which you can give to them once you feel that you won't last long in this world. ...

Other than bank vault, this is probably the best and easiest way. You don't even have to give it to them, when you die they'll probably find that flash drive and check what's on it at some point.

I'd put some sort of sticker on it ie. "important - don't throw away", create: 1- password protected folder (with few words your family will know) containing all the seeds and instructions how to use them, and 2- text document with password hints. That should do.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Keep it in a safe in the bank and offer your login credentials and cryptocurrency passwords/phrases to your loved ones as inheritance once you pass. Or compile all your passphrases/private keys into a single flash drive which you can give to them once you feel that you won't last long in this world. There are tons of ways actually, and it involves a certain level of trust to someone in order to accomplish it. You simply don't want to leave your family with nothing and you also don't want them to access it early and exhaust your fortune for nothing.

seedcret-ce

jr. member

Activity: 35

Merit: 16

Quote from: jossiel on October 12, 2018, 01:41:52 PM

Just simply give them an idea on what recovery seeds are and educate them. Teaching them in the simplest way would make it easier for them to recover/claim your coins once something bad happened. Buy your own vault so they know where to claim it and follow the instruction thing given above.

But only tell it to the most trustworthy person in your family. Why are you planning this? sorry if I'm going to ask, are you sick?

Luckily I am fine so far Cheesy

I just feel this is really important stuff to think about in advance so I want to have some plan prepared. Thanks for helping! Always good to know some other perspectives.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Just simply give them an idea on what recovery seeds are and educate them. Teaching them in the simplest way would make it easier for them to recover/claim your coins once something bad happened. Buy your own vault so they know where to claim it and follow the instruction thing given above.

But only tell it to the most trustworthy person in your family. Why are you planning this? sorry if I'm going to ask, are you sick?

seedcret-ce

jr. member

Activity: 35

Merit: 16

Thanks a lot guys for your ideas!! Very appreciated and useful.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: seedcret-ce on October 11, 2018, 08:50:41 AM

Any tips appreciated! Thanks

Several options here:

(1) Save your user name, passwords, PINs, and access instructions to any wallet for your familiy or heirs to receive. I ideally you make this information part of your will. That way the document is kept safe under the security and control of an estate attorney.

(2) Put different portions of the access instructions with different people or in different places, that way if one location gets compromised no one will have the complete access instructions

(3) Leave access instructions in a riddle that only a few people would be able to uncover or decipher

Thoughts?

OmegaStarScream

staff

Activity: 3500

Merit: 6152

If you think about it, I think there are multiple ways but It really depends on the trust factor between the family members etc. but a dead man switch maybe? A program that will send a text or email to your family members with pieces of the seed once you're dead, that way no one could steal everything.

I'm not sure If such a thing exists already (like in general, not specific to bitcoin seeds) but If there isn't, you'll have to make one or pay someone to do it.

Your family members should also be knowledgeable on how bitcoin/seed works so no one can scam anyone else.

seedcret-ce

jr. member

Activity: 35

Merit: 16

Can you please advise any tips how to deal with recovery seed inheritance planning in a safe and simple manner? I want to be sure my cryptocurrencies will not be lost and my family will be able to access them once I am not here BUT not sooner. Any tips appreciated! Thanks

Topic: Recovery seed inheritance tips – how family access the seed once I pass away (Read 223 times)