What happens to the coins after your death ? - page 5.

Lubang Bawah

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Quote from: checkmatesir on July 26, 2021, 06:18:17 AM

I have a friend and my all password are with my that friend because whenever i lost it and after me he will manage all of my coins and all of the trading. That will be an interesting topic ahead. So, i will give it all to my friend.

When your friend knows all your assets of course he hopes you die soon, if he is your family member of course this is not a problem, but if he is someone else then rest assured he can steal your assets anytime, because people are easily blind because of money.

tiCeR

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Quote from: checkmatesir on July 26, 2021, 06:18:17 AM

I have a friend and my all password are with my that friend because whenever i lost it and after me he will manage all of my coins and all of the trading. That will be an interesting topic ahead. So, i will give it all to my friend.

Ughh, that must be a very good friend then! Wink

I am not sure if I would ever share my private keys with a friend to be honest, unless I really have nobody else to share it with. A friend is dangerous. If crypto goes missing from one of your wallets it is definitely going to end badly for your relationship even though he might not be to blame.

Fecofelix

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When you inherit your crypto, it's treated as property and is generally taxed like other asset. It's subject to capital gains taxed on any gain from the date of death.

checkmatesir

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I have a friend and my all password are with my that friend because whenever i lost it and after me he will manage all of my coins and all of the trading. That will be an interesting topic ahead. So, i will give it all to my friend.

finaleshot2016

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Quote from: temple on July 26, 2021, 04:40:56 AM

Quote from: ?? on ??

Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.

I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this Huh

I thought about that long after we had children. And now I've been teaching my wife about my job, about bitcoin and others. We have to trust each other, if with your wife you don't trust her by giving her the password it's your risk. The coins you save will not be useful later for loved ones. So I've set it all up, gave my wife the passcode. Because I believe and believe in my wife.

Nice words and in fact whom are you going to trust if not your wife in a healthy relationship? Wouldn't share it with her if she was soon going to be my ex-wife, but that is not how you enter a marriage right? Tongue

Someone should know where and how to access your digital assets. It is a damn pity if you have a fortune lying around and your children grow up and can't benefit from it. That is not what a father would ever intend anyway.

Agreed, keep your time towards a happy and strong relationship first so you have someone to lean on in those situations. Yes, you have relatives, but if you're starting a family, be sure she'll be the one to stay by you until the end, and that you can trust him with such valuables. Make sure that everything is in order because we never know when we may die, and if no one has access to our wallets, it will be difficult to recover them, and if we can't, those cryptos will be lost forever. So everything on me is perfect right now because I want someone to benefit from it if incase I die, but my family comes first.

amihada

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it is clear if only you hold the key then if you die then your property will die also no one can take it, it would be nice if you live alone without a family but if you are a father then you better tell your family your wife or child to can enjoy the fruits of your hard work when you die, the treasure you keep becomes an inheritance.

Mr.sprin

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Quote from: temple on July 26, 2021, 04:40:56 AM

Quote from: ?? on ??

Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.

I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this Huh

I thought about that long after we had children. And now I've been teaching my wife about my job, about bitcoin and others. We have to trust each other, if with your wife you don't trust her by giving her the password it's your risk. The coins you save will not be useful later for loved ones. So I've set it all up, gave my wife the passcode. Because I believe and believe in my wife.

Nice words and in fact whom are you going to trust if not your wife in a healthy relationship? Wouldn't share it with her if she was soon going to be my ex-wife, but that is not how you enter a marriage right? Tongue

Someone should know where and how to access your digital assets. It is a damn pity if you have a fortune lying around and your children grow up and can't benefit from it. That is not what a father would ever intend anyway.

If not our family or our wives, who else should we trust? I have taught my wife about crypto and I have given the keys to my wife if anything happens to me then my family can enjoy the fruits of my work, especially to support my family's needs such as my children's school fees.

temple

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Quote from: ?? on ??

Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.

I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this Huh

I thought about that long after we had children. And now I've been teaching my wife about my job, about bitcoin and others. We have to trust each other, if with your wife you don't trust her by giving her the password it's your risk. The coins you save will not be useful later for loved ones. So I've set it all up, gave my wife the passcode. Because I believe and believe in my wife.

Nice words and in fact whom are you going to trust if not your wife in a healthy relationship? Wouldn't share it with her if she was soon going to be my ex-wife, but that is not how you enter a marriage right? Tongue

Someone should know where and how to access your digital assets. It is a damn pity if you have a fortune lying around and your children grow up and can't benefit from it. That is not what a father would ever intend anyway.

suryana

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Quote from: ?? on ??

Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.

I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this Huh

I thought about that long after we had children. And now I've been teaching my wife about my job, about bitcoin and others. We have to trust each other, if with your wife you don't trust her by giving her the password it's your risk. The coins you save will not be useful later for loved ones. So I've set it all up, gave my wife the passcode. Because I believe and believe in my wife.

Yes, you are absolutely right, that's what I did first. I've been telling my family, especially my wife, about the security lock for my account. So that if one day it happens against my will, my wife will easily access it. Why don't we want to share it with our wives?! Because my goal is to work for their welfare.

AakZaki

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Quote from: oktana on July 24, 2021, 04:18:04 PM

Don't share your private key with anyone. However, depending on the kind of family that you have, you and your family can be one. You can be so united that y'all trust yourselves.
~snip~

I don't want to die fast, because I still have a lot to dream about. Some of the steps I have taken have been to tell my wife that I have Bitcoin and some crypto and it could be money. Besides that I have also taught how to access it. But now I have saved some passwords and privatkeys in an article that will be useful, especially for my little family.
This had to be done because I realized I did not know when I would die. This is all I do for my family (wife and children) so I believe what I did to tell Wife is the most correct solution at this time.

oktana

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Don't share your private key with anyone. However, depending on the kind of family that you have, you and your family can be one. You can be so united that y'all trust yourselves. But if your case is not so, you can leave them a clue based on their intellegience. You can store your keys in a secret place but not too tough for family. What if you store it in a device that only your family member's fingerprint can open but you won't let them have access to the device. Or what if you split each key between different courts, instructing them to give it out on confirmation of owner's death?

Btcvilla

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if.this happens.then we certainly.have people we can.trust to manage this business.for the future, especially since this is.a long-term business.we can.give the password to the closest.people or people we can.give responsibility.for such.things, because this involves.a business.account that we have pioneered.for a long time during.our lives, so we hope to find the right person and can.engage in.the business.to continue what we have done in.the past

Mahanton

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Quote from: Tigerheart3026 on July 24, 2021, 02:39:53 PM

only 2-3 of my very close friends know that i work in this bitcointalk forum and i involved in crypto, otherwise my family don't know where my property is existing.

they can withdraw my bank money because where i used my mother documents if i will dead in any time, just only she will owner of my assets.

still i didn’t made plan about my crypto assets who will i go with to share my wallet access/private key.

Good plan brother!We should really be prepared because our lives is really unpredictable on when we would die and its just normal that we should secure out our coins
not only for the sake of our own future but also into our loved ones.One of the considerations you should mind of is on how to back up your private keys which
you should really ensure that incase you die there would be someone do able to access it out, neither your own family or your loved ones that had been left.
Its just a waste that no one would really benefit of all the things you do hard work for.

Tigerheart3026

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only 2-3 of my very close friends know that i work in this bitcointalk forum and i involved in crypto, otherwise my family don't know where my property is existing.

they can withdraw my bank money because where i used my mother documents if i will dead in any time, just only she will owner of my assets.

still i didn’t made plan about my crypto assets who will i go with to share my wallet access/private key.

Dewi89

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Quote from: South Park on July 24, 2021, 01:57:22 PM

This will work but only if you die of old age or at least have a decent idea that something could happen to you at any moment, but as we know many people die suddenly in which case your coins will be lost, this is a great problem and one that it does not have an easy solution but that we must think about otherwise we may face that scenario in which our coins are lost because we never told anyone about our seed words or private keys and what to do to recover those coins.

We don't know when death will come to us but we also don't trust notaries without informing the family about the amount of crypto assets that have been stored in the exchange account, a very confusing situation but we have to act before it's too late.

South Park

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Quote from: the rise on July 20, 2021, 10:35:02 PM

I don't think I'm bequeathing it to my family, but I'm also not putting all my assets in cryptocurrency, and I'm still putting fiat first in this, that's so it's not hard for me not to, for my son and wife to receive an inheritance.

This will work but only if you die of old age or at least have a decent idea that something could happen to you at any moment, but as we know many people die suddenly in which case your coins will be lost, this is a great problem and one that it does not have an easy solution but that we must think about otherwise we may face that scenario in which our coins are lost because we never told anyone about our seed words or private keys and what to do to recover those coins.

tiCeR

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Quote from: bitterguy28 on July 22, 2021, 03:45:30 AM

Quote from: ?? on ??

that's the risk of owning crypto. if we die the coin will die, but if we share our wallet with people around it will definitely be misused.
so maybe we have to have 1 trusted person from our family member to be able to access our wallet maybe our child or wife

Actually that is not a risk but a Security advantage , imagine if the bank will held your funds and you died without your family knowing the funds? it will be their money in time.

so with bitcoin no one will benefits unless it is our willingness to let them have.

that is our obligation , either let them learn our funds and have access or die the coins with us.

I don't know where you are from, but rest assured if you live in a half normal country and you hold money with a bank, your family will also receive that money if you die. You are rather talking about highly corrupt countries I guess. We do for sure need better software solutions for the inheritance of digital assets, there is no doubt about that.

Brorasael17

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So before we die we should give inheritance to our families. if our assets no one knows then these assets will be stored forever. I'm sure there are lots of incidents like this, but don't let us be like them.

Quantum907

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Quote from: JohnBitCo on June 27, 2021, 12:05:30 AM

In most of the cases when the person dies, his crypto would become useless if his family member do not know about his keys.

I do not usually tell my password or keys to anyone and i know majority of the people don't do this. We are being taught to keep the keys safe.
No one think that one day he will die and in that case, his family won't be able to use those savings (bitcoin/crypto) if they don't know the keys.
Also people won't like to share keys with siblings or wife because they can misuse them . So what could be the solution to this Huh

The best solution is to give the key to someone we trust, for example a wife, as long as she is a wife then there is no secret, so if we die then she can use bitcoin to meet the needs of children and families.

Btcvilla

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this business will still exist and have absolutely no effect on our death, if this is indeed the case we will certainly give our account to the closest people we can trust and it is very important why we have to choose certain people in this case, because if he can continue what we have built so far, maybe he can inherit what we have for the future after our death in the future

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