Topic: Who Controls your Crypto Funds after Death? (Read 1108 times)

I think it is better to record video instructions: 1. Entering the wallet 2. How to transfer funds to the exchange 3. How to sell them there. 4. How to withdraw fiat currency to a bank card 5. Write where the keys from crypto-wallets will be stored.

Create a secret place where you will store your private keys. Tell someone you trust to open that place in case you die.

i have been thinking about it too but always erase it in my mind. i could die with it and if no one discovers where in my drive are the passwords and private keys are, its going to be buried along with me. i have a kid also, my wife and her parents insist that we live in their hometown and its where i live now with them. in case something happen to me, they can survive.  i gave her some coins though and told her not to spend it.

Chill dude, don't be so rude to yourself. We're the same, so far I'm not yet thinking about who should I give my holdings before I die. I just live my life right now and enjoying the profits I can make. Maybe when the time I  feel that I'm already getting closer to heaven is the right time to pass my assets I guess . Not thinking the day of your death is normal anyways . I hope it will take few more decades before it happens.

this is very serious question you have raised
shame on me, but I have not thought about it at all!
if anything happens to me, all my crypto active will be lost, I'm afraid
I think I should speak with my wife and teach her about crypto and that is a very tough task, cause she just knows nothing about it ((

sad

You both made a good decision, our family, especially parents, are the right people to have our crypto assets after we die. Also wife, he gave his life to us, I think giving crypto access to him to be handled after we die, that is the best decision too, especially if we have children.

Preparing people who understand cryptocurrency is one of my reasons when I do experience things that I don't want. if possible, your wife or someone you trust knows about a number of funds and also assets owned in digital or others. because if it's not difficult for ordinary people to be able to detect or know it . and if this happens our funds will settle forever

I have typed up instructions for my wife and parents on how to access and use my crypto funds in the case that something happened to me.   It is sealed and put away in 2 fireproof safes. 

Yes agreed, he needs to be more enlightened for people like us with much wisdom to understand

You're not reading it correctly. The friend is the wife. Why he wrote it that way though, can easily be mistaken or misunderstood by anyone else.

Sorry how do you trust a friend more than your own wife?  Any reason?

Are you pained?  You leave your family with no money instead you give to charity?  Why mate

Until someone knows the key, no one can control your funds. I do think that you should disclose those information to the person who you surely trusted with so all your hard earned money would not go to waste otherwise it would be wandering for eternity.

This comes down to estate planning, but your approach can be something as simple as:

dump private key BTC to cryptosteel physical wallet. spouse and childrens were given with pile of those stainless steel cold wallet and know where they were kept hidden in more than a dozen of locations to prevent search and seizure.

1)  Show them how to load that into a appliance (full node) and bitcoin core android wallet to swipe those coins with a QR code generator, and
2)  take your spouse and teenager is to food and other entertainment establishment and travel all over the world regularly
3)  bring no money or credit card with you to where you travel.
4)  Show them and make your spouse and kids to get 2 way BTC ATM to get cash in local currency, and
5)  Repeat steps 2-4 to let your spouse and kids to gain proficiency on getting cash discretely at countries all over the world.

obviously step (4) can be omitted if you have partners that you can trust and regularly referral to in foreign countries.  You also get better rate that way (instead of selling with -7.. -10%, you get to sell BTC at spot and get cash for it)

There might be some services out there that take care of this. As an example, one could ask a third party (like an escrow) to help forward any unclaimed coins from certain addresses after your death.

On your part, you don't want anyone to just get it, so you set up an encrypted email and activate a dead man's switch that sends that email, if you haven't logged in to that service for 3 months for example. Or maybe even 6 months. (What if you go to jail? Get stranded on some island? You are still alive but can not reset the switch; you may want a lawyer to get some money for future services not yet rendered; to help you.)

The third party would not have the private keys, or they still need some password to get it. The email that gets sent is encrypted.

Now, why would they do this? Because maybe perhaps other family members don't really know how to spend the coins, so you assign it to someone else and they take a percentage; they help exchange the coins to fiat and give that to your family.

It's the same with getting some kind of life insurance policy. You pay premiums, you trust the company will pay a death benefit to your beneficiaries if something should happen to you that is covered by the policy.

I mean, for about $30 per month, you could get coverage between $500k to $1m, depending on your current health and age. If you die, the spouse and children get $500k to $1m.

If your coins are worth the same amount (between $500k to $1m) at the current time, then wouldn't it make sense to find a way to get that value passed on to your family or offspring and pay that service $30 a month too (and they'll probably take a little more). If you had, say 100 BTC kept in cold storage, but you die much later, like another 5 to 10 years, it doesn't matter what the value is by then, it's not much to pay 1 BTC to that third party to make sure your family gets 99 BTC (less conversion and transaction fees and other bank fees.)

The alternative is you trust your own family to figure out how to get and spend the coins, or they never figure it out and your coins are lost forever. (or until someone finds the private key.)


No one wants to die, but one must plan for these kinds of things.


I've gotten a couple of people interested, but we haven't worked out the details.

Everything has been trusted to my friend, when I'm gone I told him to give everything to my children because they are too young to learn about the blockchain technology. I said to her sell every coins that I have and buy bitcoin with it and when they old enough give it to them in full. this is how strong between us and she made an oath that she will fulfill those promises. my friend is no other than my wife who learn about the existence of the bitcoin technology not too long ago.

It is somehow risky to tell people your password for your wallet and account but that is where a confident needs to appear, because if one dies without willing out your account to anyone then, your account will later diffuse. It becomes a waste of time , energy and resources.

This is very hard to answer since the one you can trust is your family. I might save it on my email address acount or create a file and save it on a cloud storage.  We don't have no choice but we need to tell them our funds and tell them about the cryptocurrency so they will know what it is.

We can also just give a hint and provide instruction to prevent deleting the file full of private keys.

I will try as much as possible to give it to my immediate brother, I guess you that it's a good decision,  giving it to my wife is cool but when a lady see such huge amount like that they might try to do the unthinkable to the husband

Me and only me. Yes, I'm so selfish

I have a steel safe with some passwords inside. If someone steals them they won't know what they're for but my family should be able to figure it out especially after spending some time with my computer. If they throw it all away after my death they'll get nothing but if they treat my belongings with respect the belongings will treat them back haha