Bitcoin Forum

The only one who know my coins investments, wallets, private keys, is me. So the question is how to inherit this information to my family? to give them privilege to access it after I passed away  :-[.

what a kind of thinking, this is a good question. maybe you can just do in legal way like when you want to leave or inherit all your properties to a member of a family you can include it to your last will and testament in my opinion bitcoin can also include to your testament. the question here is how you can transfer all your funds without including the safety key to a testament? or choose a trusted lawyer of the family to deliver the testament.

That wpuld.be quite tricky especially of the people i'm supposed to leave my btcs with don't have any idea what it is. Keeping a ledger also would mean that i have to introduce and teach them about bitcoin and crypto and that's where the challenge mostly is. If ever i gather a significant amount of btc for inheritance, i probably would teach them slowly about it.

you can order an attorney to keep your private key or someone you really trust but if it happens you can lose your coins if they see and wow how much money you have to take when you die, my advice is better if one of your family know your personal key or its location if you have printed it but forbid it to open or store in the blank and do not give the key or code but when you feel it is time to give the code to your family.

It's probably easiest to ask an attorney to help you with that and you can write instructions and steps to follow once you've passed away.

Yep. We had a legal board here and a known member in terms of legality in Bitcoin and cryptos which is actaully a lawyer in real life. Better ask him. Also, try to search about similar topics like this since a couple of threads have been made with the same context as you.

You should make a safe where you place there information such as private keys wallets and everything that you want them to inherit, and let them know where you hid it then give it to them before passing away, or tell someone that you trust the most then let him do the job of inheriting in case you die accidentally.

Yeah, i have been thinking about this a lot and i reached the conclusion that i musnt die for a while :D, they still need some time to adapt to the new technology. I plan to live another 50 years or so, so that wont be a problem.

If you have a wife then in trust her with your private keys tutor her how to use it and pray that she wont withdraw your coins even if you two has misunderstandings, or if you have no one to trust die together with your bitcoins

I won't want to die so early yet because the game just started. But i think i will have to look for some ways to inherit what i had.

I dont like keeping too much of the same information in the same place.  So a safe with all the details and private keys concerns me, what if i get a burglar etc, a safe means i got something good for them.  What i have done up to now is just informed a family member that in my house there are details to access everything in different locations - this would probably take them several days to work out where the bitcoin is.  This is vague information but best i can do right now.

Some of my coins are stored on paper wallets my wife knows where they are.
She doesn't understand now how the things work, but if I'd die and Bitcoin and some altcoins would rise high enough my funds to matter I'm sure she'd learn how to get access to most of my coins.

I think that this is the easiest way to handle this situation.

I will say don't trust attorney with your bitcoins keys and instructions.You never know after you dead if he will keep his words lol.Best thing to do is write down the private key and instructions on 'how to redeem the bitcoins and sell' in a diary and put it in a locker with a code.Then use any online service(google for that,there are many) that will send an email to your family member(any one you chose/multiple members) after 7 or 30 days of your death.How this works is you have to constantly keep logging in to that service over time and if you fail to login one day then after 7 or 30 days (you choose) of inactivity it can send an email to your loved ones with what you write there.I would say this is the best way.Write the code of the locker in that service and it will automatically email it your family after you die.They can use the code to unlock the locker and read everything in diary.  ;)

this is actually very important topic. as crypto currencies are new for so many people, there are still many things that are not tought about it yet. one of them is the legacy. we should all have plan our legacy plan so if something happnes to us, our beloved people can use it.

It is probably a good idea to write everything down so someone can recover and get everything back. We never know what is round the corner. It is better for our family to benefit from our bitcoin than it dying with us.

Finally this thread was created too, a few days ago I have discussed this with my wife, according to my wife is very painful when I talk about death, but this must be discussed, finally he would listen and learn about crypto, then slowly I try to explain where I store bitcoin and other altcoin assets.

And I've been thinking about it considering the present way of life literally every day can be the last one.It would be really bad that we leave possible wealth behind us and that nobody knows that such a thing even exists.

It would be wisely to write a letter with detailed explanation about cryptocurrency,wallets,private keys and store that in some safe place.Only problem is
to ensure that no one gets it for our life time.Safe deposit in a bank is maybe good choice since they will give content to family when you passed away.

This is something we all should seriously consider,it is not paper money,gold,house or something like that, so it is difficult to safely leave coins in inheritance.

It depends on you. You can save all your information to a file and save it somewhere and tell your family that just open it when you're going of course include a file about the instruction, Private key and other information about it, how are they going to spend it and what is bitcoin.

You can also hire a lawyer and give your coins information to him and who's going to receive the inherit.

one way is you have to first notify access to bitcoin, after that you just keep all the private key which includes wallet email and the lalinnya on one container either written note or you can save it in your gmail and give one special access to the heir in order to open your private mail .. I think that's enough

maybe this is the best way, because simple and easy to do, live dependent heirs want to continue or not.

More and more people are raising that question because in many cases they have doubts whether to inform their families about that or not.
In countries where Bitcoin is not regulated and your Bitcoins or other cryptocurrencies are not "registered", let's say so you have the choice whether you will share those information and leave your coins to family or not.
I would definetely do so because it would be a waist for the coins to stay unused.

Options:

1. Get an attorney that will handle all things for you, but I suggest you pick one with a good reputation
2. Get a safe box put your letter inside explain how to use it in case they don't have any idea then hide it in a safe place
3. Email, there's an email option online just google it, where if you fail to login for a few days, your email will be sent.

P.S I hope you won't pass away any time soon.

Wow...! that's really a good question.In my opinion you should have to record the personal details including online account information's and password and also explain how to access your bitcoin,where it is all held and the information of each credential needed to access these locations and all the passwords and pin's tethered to your wallets in a note book or any other [like your own gmail accounts,other wise with the important papers that you have ].Furthermore, the backup seed phrase is also write down just in case the other password don't work,or phone wallet or hardware device was lost or stolen.

This is a good topic and of course no one knew what will be our fate. There are people who die of old age, accidents, sickness, and heinous crimes. That's why we should also give attention to the wealth that we will leave to our families. That is if you really have wealth to pass on. I think one good way is to keep it in a safe and leave notes for your family or have a family lawyer for your last will testament. But before these, you should first educate your family about cryptos and have them have their own wallets so that they will know what to do with yours in the event of your death.

Inheriting coins to your family after you passed away is a good plan because it will give an assurance to your bitcoin or other coins that it will continue to live and they can either continue growing it or just sell it in order to get the profit or the money from it and use it by their own. You need to make sure that you will give full and detailed instructions to your family so they know what to do.

Not the first time I've seen this come up on the forum, and as yet no one has taken on the idea to start a legacy/inheritance crypto project. This was the unforeseen situation with a trustless system, I believe, unless by design Bitcoin never intended anyone else to inherit the coins of deceased users. When you look at the amount lost forever, add that to a surely growing number of user deaths and loss of associated coins, it is somewhat plausible to think that this was part of a grand design for diminishing supply and increasing scarcity.

Back to topic at hand: I still haven't found a way to transfer knowledge of my private keys that I'm comfortable with. I do not yet trust the technical capacity of lawyers and am unwilling to trust them, nor do I feel confident my next of kin would understand or comprehend what I'll leave behind. Someone needs to start a small project to solve this (or not?).

Contact some lawyers and get it sorted. If you are worried about them stealing it go to a well known law firm which deals with millions each day. They'll probably not even blink a eye of how much you have as they see tens of millions each week.

Its a great question I didn't even realize it. If I have a family on my own I will give to my son or daughter which can will inhereted by them and I will tell that this account is precious and what are the benefits that I can get here, I will tell them it gives life and hope to someone who give up to their life and don't know where will they find their own path for a new journey. They are lucky because they a father that has pure heart and kind which give them a sentemental things that they will keep it forever.

Almost all the exchanges have verifying and some of the wallets too, xapo, for example
So there would be no problems with inheritance getting
All is the same as with bank accounts

for me do not take a headache to pass on my treasure from bitcoin. i think one good way is you must first in your family at least should be able to work together in this forum and educate your family. your own time in the sense of joining.
your family must know the treasures that exist in this forum. to continue your family who are died.while  key that I  surely they already do  know because they also come with us,because my family also join join with me

It is simple you just need to make an email then save your private keys and wallet address on the draft then before you die you write an instruction to your family to open the draft in your email. Give them your email address and password then everything is set and you do not need to worry about it. But if you trust your wife and child you should already share those info with them since we do not know when will we die.

I already have access to my private keys stored in a safety deposit box that my wife has access to, together with instructions on how to access the coins.

It's kinda risky to have all that information in one place, but I'm sure that my wife would appreciate it if something happens to me.
The chances that someone other than my wife gaining access to them is still pretty low I would think.

It's too early too think of passing away because I'm too young , I want to enjoy my life to the fullest and use all the bitcoins that I earned to buy what ever I want.

But honestly, that idea also comes to my mind. If I we're given a chance to give the access in my bitcointalk.org account or other bitcoin related accounts, I will give it to my eldest son because I know that he can manage it well and I believe that he can make it more prosper than I did. But in order to become fair, I'll tell my eldest son not to become greedy and share the earnings to my othet child.

Store your keys in a vault or something. They should respect your wish of staying away from it if they're worth passing anything to. Maybe you could also write down your keys in your last will?

You could create a will where the person you want to inherit the coins can take all your coins after you pass away.
Create a will saying that the person should go to a bank locker or whatever you call it at your place and collect the stuff from inside.
Keep a note inside saying that how much you care about your family and then give them private key to you wallet and how to access them.
It will be a very good surprise for them to find a note attached by you and the money you saved for them.

If you think youre near to death, use the time left in your life to educate and teach them about bitcoin. Teach them all the ways and all the things that you do in bitcoin and after that, you can tell them your passwords, accounts, investments and many other more that are related to bitcoin. Tell them they will be the one to manage your money so that they can earn money to sustain their daily needs.

that's kinda hard to tell. because if you choose trusted lawyer too, you can't completely trust that lawyer. because in its cryptocurrency transaction, you get some transaction history, but if your family that you're inherit to get the concept of cryptocurrency and bitcoin, it will be fine. the worst case is, your family doesn't get it. maybe you shall teach ur family first  :)

Ha ha, considering all kinds of human force majeure.
Now it seems the most secure way is stored in your wallet key, a key to entrust book, and then thrown into the cupboard cut into a mini USB, if you can also read the words. But can you try Google's cloud storage?
 

This is surely the most brilliant comment so far.

Create a very detailed instructional video as part of your last will and testament. Watch, edit and re-edit several times and make sure that a layman will understand your instructions. Since you are passing it to your heirs which are not knowledgeable enough to redeem the riches which you saved all of your life.

You could give one of your family member, that you trust ,your private keys before you pass away. Or maybe you could write it in a note or some kind of will then they will be able to discover it once you have passed away. Btw , Does your family have knowledge of Bitcoin?

I actually gave this a much thought and made me realize since I wanted my kid to inherit my coins especially bitcoins, I wrote the private keys on a piece of paper and placed it in a vault. I know it sounds cliche and all but I really think the old school would still be the best way to pass it on to the next generation.

Well you might have to write the information in a document stored on a safe laptop and hide it in a vault somewhere :p sounds very james-bond like hey at least you'd be sure the information would get to your family safely :)

Everything is very simple. You just write a will and leave the key to the banking cell. Describe in detail the instruction and put it in the cell together with all the private keys and flash drives.

You are a wise father. I would do the same someday. Better orient them about crypto currency, specially your spouse. Let them become responsible to keep the private keys safe. Its like a pot of Gold inside your house that can be stolen if not properly kept.

I thought of this as well. We will also be digital in terms of future heritage. If you ask me. of course you will teach that you will give your private keys and other important internet income. Because I do not know how to unlock your wealth. You can give it to your child especially that it can pass on your knowledge and your valuable resources

I will give them my private keys and seed phrase wallet. but right now they don't even know how i am doing. I printed my bitcoin address and wrote down my private keys and store it in safe places just my two sisters know about it.

This is the answer to it.
You will need to leave two flash drives. One for the account and another for the video that will teach whoever will inherit it.
Then, it will be up to them what they want to do with the coins. You wont need to worry or you cant worry because you are already dead.  :D

I keep an envelope in my safe of my private keys, passwords, and instructions on how to recover wallets.  I figure someone in my family will find it if I die.  Putting it in a will is not a bad idea, but I have to wonder if it safe since wills are often reviewed and handled by lawyers and their staff ... you may be exposing your info to god knows who.

To make a will for the possession and disposal of crypto currency, you first need to know whether the crypto currency is recognized as property in your country. If not, then the will does not help here. Better, of course, in case of death, leave your heir printed addresses and wallets keys, or, even better, save them on a separate memory card. It is desirable that the heir should have an idea of ​​how to use it all. All other options are very complex and based on trust.

before I leave everything I have I have made a wallet and secret key to pass on to my family and in one of the family, I will teach like my sister to know about bitcoin so my sister can hold what I have inherited to my family so I do not worry when I'm not in this world or die. because one of my family can understand the crypto world so my sister knows access to all the inheritance I left behind.

You just have to teach someone else and that's it. If they don't understand it then just take note of it on a simple explanation and up to them how they will able to understand it. Once you left this world (knock knock lol), given that you already gave them some informatoin about your concern, they will push themselves to know what those really are and I think they will get an assistance for other persons.

Just be sure that their effort will be worth it and not at the end of the day, they will just saw a BTC0.005 stored coins. lol.

in my opinion, we should give positive feedback to our families about this bitcoin.karena bitcoin become one of the digital currency which is increasingly recognized by many countries. so from this bitcoin result we have to give and teach to our family.

I've been working on this problem for over a year now and have published some free resources for the community to use. Take the templates and make them your own, delete whatever doesn't make sense for you (including the references to Third Key Solutions if you want) and add the things that do. Good luck!

Humans Die. Cryptocurrencies Don't. https://medium.com/@pamelawjd/humans-die-cryptocurrencies-dont-d392627bb15c
Letter to Your Loved Ones. A template to help your heirs understand your cryptoassets. https://medium.com/@pamelawjd/letter-to-loved-ones-a-template-for-your-crypto-estate-planning-4ee0975434e4

That may be possible in the near future and KYC are going to be the next thing to ensure more improvement to cryptocurrecy as a whole. Or simply just let our family members know about the account details in case anything happen?

good question never thought of that! especially if you die/get killed unexpectedly. as uncomfortable a conversation as it may be with your spouse/sibling/significant other, I do agree that it's important to have a contingency plan in place, especially if you already have a sizable amount invested in crypto. it would be great to have a crypto custodian, if you will, that would be tasked with presenting the otherwise confidential wallet info, portfolio, etc to next of kin in the event of death. So, similar to an attorney but someone who is specifically tasked with providing that info and that info alone. Since cryptos are all unregulated, a code of ethics may not necessarily apply to attorneys and so, as many have stated, you can't necessarily trust one 'to do the right thing' if/when the time comes. then again, a Crypto Attorney may very well be the next big thing once a Digital Currency Law becomes a thing!! 

Explaining bitcoin as an investment is easy to understand since it totally falls under the aspect of any other investments (bank investments, bills, treasuries etc.). Regardless of the value of bitcoins in the future, it is still an inheritance that forms as a bonus. They have the authority whether to spend it, or keep it in taking advantage of its volatility. Regarding your question, you can always keep your coin in a wallet that is commonly-used by most individuals in order to reduce the risk of scamming in the long-run or you can also create multiple wallets if you think that it will solve the problem of scamming or hacking.

If you want to inherit your coin to your family when you die, maybe the thought of people is to make a inherit letter that containing information about your coins, but this is a bit risky because you have to tell your key wallet etc, i think you have to start teach your wife or child about coins and how to manage them, so that if one day you die, your wife or child can continue to manage the coins you inherit.

This can only be done if you include it to your last will which is prepared by your lawyer. This is a bit risky because you need to supply all the information needed. To ensure that no leak of all your information that concerns the cryptocurrency, it's good to have a signed contract between you and your lawyer where he/she is liable for any leaks that may happen before and after you diedededed

Yeah , that is what i asking to myself also what i die in a accident ( wish that does not happen ) what happen to my bitcoin i think its a good idea to make Bitcoin a Automated Script Method which ask the holder every year if he/she was alive or dead. Then give some info about family so the love ones can access the Bitcoin even though the holder died. Its a waste if you die then your investment cant spend or your family does not have the access to use it.

That's hard. Unless you have a terminal disease or planning to commit suicide, you don't know when that time will come. And i don't thunk many of us would be willing to share pur wallets since of course we also have plans for it for the future. I think the best thing to do here is first, to educate your family about crypto and bitcoin and have your security keys stored physically somewhere and have a trusted family member know where it is.

That is difficult. If you will use attorney to hold your private key who knows if he will give it to your family after you passed away, I hope you will not passed away before you have settled everything.

You have to get a lawyer then make a testament that after you leave this world they will be your successor if ever you want your bitcoin be continue to your next generation. Seal it with your signature in it. And make sure that you store bitcoin as more as possible so it will be useful. And be sure that your beneficiary is the one you have put in the testament.

If I were to do this, I would have to make sure that my children or heirs would have enough and sufficient knowldge on crypto and bitcoin otherwise it might just be a waste. They might abuse or misuse it if they did not know the proper way of handling bitcoins. Of course I would want my hard earned coins to be inherited by someone who could cherish it. At an early stage, I would tell them about it and ask them to keep my private keys so they will have access to it once I die.