Topic: Secure Your Legacy, Educate Your Loved Ones (Read 478 times)

Most people here would say that you would just need to educate at least one of your family member but I assume that is difficult for you too. It may be true that we cannot bring our fortunes on the grave but we can help other people with while we are living, family or not. Sometimes, those that are beyond our bloodlines believe in us more, right?
You also have to consider your family's feelings too. Are they interest in crypto? are they willing to learn? Because if not, there'll be no sense of pushing it. If they've seen you work on it and get rich thru it but they still don't feel the need to learn, then maybe you should ask someone else. Go ask your family straightforward about it. It may also sound dumb but you can choose to liquidate cryptos as you age if you find no one who will continue holding it for you. What's the sense of having if your family won't benefit from it right? Try to stop worrying about things you can't control.

Financial honesty, especially within a family, is essential. It's only fair that your family supports Bitcoin if you do. Imagine if they're surprised and don't know about all your bitcoins! The investing oversight is also a family oversight.

Say the family patriarch is into Bitcoin and has told their spouse and kids. Great! What if they're overloaded by wallet addresses, passcodes, exchange dynamics, etc.? Bitcoin can appear like a foreign language to beginners. Not everyone is tech-savvy. Paradoxical, right? Tell them, but how much is too much?

Education matters regardless. Let's not plunge them in. My friend, baby steps. Always have backups. Passwords and wallet codes are crucial. Make things simple for them. Because if your family can't access Bitcoin, it's useless.

Well that's true that it should be passed down to our loved ones since we still have time in the earth. But in my case, I rather teach the people I love that are really willing to learn. Some might say he might do something about the funds but he literally deserved it as he exert effort to learn and study the knowledge you want to give to them. Though this is only my case and it really depends on the situation in the family, but normally you'll really have to choose the person you'll entrusted your funds so it wouldn't be wasted like straight to gambling.

It's true, we must apply this to ourselves and our families as bitcoin investors. Because don't let the bitcoin assets that we have collected over the years become meaningless. Therefore, this is where openness in a family must continue to be implemented. Because for example, there could be a wife who doesn't know that her husband has investment assets in the form of bitcoin. Or sometimes the wife knows, but doesn't really care, because the most important thing is that her husband always provides her with a decent and sufficient living. So she (wife) doesn't really care about her husband's overall income.

So basically in a family there shouldn't be any secrets, including regarding bitcoin assets. Because basically husbands and wives (in particular) must be open to each other. Whether it's about the past, background or about wealth, assets and income. Because if it's not like that, I'm afraid something like this could happen. So when you have a family, don't ever have bad thoughts such as lying and not being open.

So in essence, providing teaching or knowledge about Bitcoin to your wife and children is very important. Because after all, all bitcoin assets that, for example, are owned by the head of the family (father), will most likely one day be inherited by his children and wife. So at least equip wife and children with knowledge about Bitcoin, just basic knowledge. Such as about personal wallets and about crypto exchanges. In my personal opinion, that is more than enough. But don't forget to tell family bitcoin wallet code or phrase, so that when an emergency occurs, all bitcoin assets will remain safe and usable.

Every person should be educated first. When a person is educated he can find different means to lead his life by himself. I pretty much did my education and then I got into bitcoin and learned from bitcoin to bitcoin. I have admitted my wife to university for education. If my wife can be educated then surely my son and daughter will be educated and will be made like a human being. Because the more educated the mother is, the more educated her children will be. Everyone in my family is fairly educated. The funniest thing here is that my wife expressed her opinion to me about learning about Bitcoin. He said that if he can understand Bitcoin then surely he can earn from Bitcoin. But I also thought I would teach my wife about Bitcoin. In my absence (like if I leave Earth) he can take over from here.

What must be known, one of the most useful aspects of managing bitcoin is that we can pass it on to future generations, namely our wives and children. I think the idea of passing on bitcoins to future wives and children is a source of pride for many bitcoiners themselves. No one likes to think about death or the possibility that we will experience a disaster that will result in us not being able to remember anything.

This is uncomfortable for us but unfortunately this is the main reason why so many people die without an estate plan. Dying without an inheritance plan is very detrimental to loved ones, both financially and psychologically. So it is important from now on that we have thought about and reviewed the basics of bitcoin asset planning to pass on our bitcoin assets to them and help them organize and prepare for the inevitable in the future and to ensure that when we leave our loved ones can access all the assets that we leave behind so that with this their path forward is very clear.

Although I can see your point here, I'd say it is better if you introduce Bitcoin to your loved ones earlier and at least bring it up during conversations. It will be harder for anyone who will get your will to just know about Bitcoin and how it works the moment it was handed to them. It will surely be confusing for them. Hence, it is better if you at least try to slowly introduce it to them and how it works so by then it will be up to them if they will do their own research regarding it and learn, or at least keep the things you have shared in mind.

Although having a will and putting everything there is good, having a more advanced plan will still be better as you will still be around and will have hands-on experience as to how and what you will share to your loved ones.

If we are not told or taught by our loved ones in life, the crypto assets we accumulate in this business industry will really go to nothing, so as long as there is time and opportunity, let's really think about who we can trust dearly in life and also make a will of testament regarding this matter.

And everything in the will of testament should also be detailed. There are all the instructions on how to release all the assets that you have set aside so that they can be transferred correctly to the currency of the country where you are located.

In this age of plentiful information, you're right; its about sharing and guiding others. Although sharing is caring, have you ever wondered how to determine the "rightness" of information?

Imagine you teach your cousin Bob about Bitcoin, and Bob, being excited, rushes in headfirst without more research. What if the data was incomplete? The age-old pseudo-problem of information overload and discernment!

However, theres hope. We can emphasis self-research and careful diligence even if we share. Thus, everyone is better informed and trust and knowledge grow. Share with prudence and wisdom.

Luckily for you or someone whose partner has interest, understanding and support regarding Bitcoin investments made by their partner.
I think that's what couples are for, namely supporting each other and having a way to support each other in everything in the process of becoming a family.
I also share all my knowledge and activities in Bitcoin with my partner so that everything about the amount of assets I own, the seed phrase keys I own to where I store them my partner also knows all about it.
Even though my partner is not directly involved with activities in the world of Bitcoin, but my partner also understands the basic knowledge about wallets and seed phrases and indeed I decided to tell my partner and share it because no one knows about end of age or death, so if it turns out that I die first, my partner can taking advantage of what I have tried in the crypto world for herself and my child in the future.

Some people are also not sharing with their parents because their parents do not treat all children in same way and to some their love is immense but for others they don't show any love. In the case of sharing your thoughts with wife is also not acceptable by some people because they realize that their wives are not sincere with them.

I know that there is nothing more important than a family and parents but if you realize that they are not supporting you and they are sweet with you for money only then separating your ways before losing everything is necessary.

I was wondering how well my wife would be able to figure things out if she had to do it alone, I talked to her about it and realized that it would be very difficult for her. But she doesn’t want to think about it, because she wants to believe that I will always be there.

I understand that I need to teach her everything that I know, it definitely won’t be superfluous, because no one knows when it might come in handy. I know that there are people who are afraid that if they give access to another person, there will be a risk of losing everything, but I don’t worry about that, because I trust my wife as much as I trust myself.

Bitcoin education cost nothing, all that’s needed is just for you to tell someone this is how it should be done and this is what you need to know and they can go from their, considering how things have been made earlier now in life we don’t even need to be teaching someone like who is teaching a nursery school pupil, everything is set all tools are made available for the reach of all.

Now that we have the idea about bitcoin, giving our relatives access to that free knowledge will really be beneficial, let’s even take the any unpleasant incident that might happen apart, those knowledge can be useful to them, and also sharing our wealth with our family is also not a bad idea as we are not going live forever in this life and after this life we are going no where with those holdings.

Savings is good protecting those savings is also a good one but what benefits will it be if something happen to the holder today and no one have access to it, they will be regarded as a wasted investment, lucky the person who made a bold move in sharing his savings with his family even if he was not able to distribute all and giving access of all his holdings to his family, the bold step taken means he made the right decision. Let’s all just learn on how to share with those we have a little bit of trust for.

The type of family we come from are different, some people don't even trust their family unfortunately, love is very important in our lives and I pity those who are from families where there is no love among them.

It is a total waste when you die and your love ones keep struggling without them having access to your Bitcoin wallet, it doesn't make any sense, because it's not always about you, but also about those that are close to you.

What is the usefulness of your gold and wealthiness when those around you can't benefit from it? So I am supporting many people on here that believe that teaching at least one person in your family how to operate Bitcoin wallet and sell them on exchange is a good plan, no one prays to work all the days of their lives and lose all that hard work because of death.

I know some families are full of back bitters and bad people, it's better to look for someone you can trust If you have trust issues in your family, moreover a family full of back bitters are not worth calling a family.

I haven't been in that situation so I don't know who to believe, but I'm talking about relatives, parents, wives and children. Many people pride themselves that they trust no one but themselves, they value bitcoin more than the lives of their loved ones, I don't think that's something to be proud of.


I really don't understand what those people think when they value money more than the people who gave birth to them, without our parents, we would not be where we are today. Then later, they will understand that feeling when their children also do not trust them.

We must immediately determine the choice of person who is trusted to hold the inheritance to replace the position of asset manager if the person concerned is no longer there. I am sure that no one would choose someone other than a member of your biological family or your wife, because other people cannot be trusted to manage our assets without the services of a notary or a letter relating to an asset management agreement for the needs of the immediate family of the owner of the inheritance. We don't need to force someone to manage investments, but make sure we focus on teaching the person to convert BTC to currency for bank withdrawals. If he mismanages investments, it will have a negative impact on crypto investments without the knowledge of managing risks.

That’s so heartbreaking. But either way, it’s still the best option to find a trusted ally wherein he will leave all his investments in case he’s no longer alive anymore. It can be your best friend or whoever he is, as long as he’s aware of your investment and he knows how to run and continue your legacy, for me that’s good enough. Your investment reflects your hard work, so if you think you can’t no longer benefit it, then leave it to a person who actually deserves your trust and had shown you kindness while you are still living your life.

Have them experienced investing as well. Education may be good to hear but I know it would never be enough. They need practice and on hand experience so that if ever you lose out of their sight, you will never worry of those who are left because they already know what you are used doing. Investing needs guidance, that’s why seize the time teaching them while you are still physically available to do that for them.

That is where I am currently struggling. I have been trying to teach my family about crypto. I am holding my crypto assets in a ledger. Still, no one is able to handle my device in case I pass away. It's really a concerning matter for me. Also, it's hard to trust anyone outside of my family with such funds. I hope I can teach someone about my holdings before I pass away. Because if my family can't access my funds, they have to suffer. I know everyone thinks about privacy and trust. But in our lives, we have to trust someone; otherwise, we can't live. So yes, it's very important to teach a family member about our holdings.

Of course, your point is based on truth. I have experienced this myself. On this forum, probably at the beginning of this month, I was reading a replay of a person on a thread in which he wrote that I do not want to share my private key even with my family. He says that he should not take my money from me. I don't understand how people do not trust their families. So I believe that you should tell your family that if you die tomorrow or some other problem occurs, at least your family should get the benefit of your assets so that they don't use them unnecessarily or waste them.