Bitcoin Forum

Are there legal structures that allow Bitcoin to be included in a traditional will in the countries where bitcoin is legal?

In countries where bitcoin is legal, they must have considered as an asset. So you can follow the usual route to add them to your will similar to what you are going to do with your other assets. Unless Bitcoin is classified in a different way, I don't see a reason why you can't do that.

You will face challenges only when Bitcoin is banned or not legally recognised in your country.

Actually, in my country, bitcoin is not legally recognized. I wanted to know how it is done in the countries where the use of bitcoin is legal, from there I can deduce how to approach it in my country. It seems that in the next 4 years, many countries will be accepting bitcoin as a means of payment. US has set the baton rolling.

my USA will in the state of New Jersey allocates all my digital assets to my wife.

In New Jersey and the USA  btc falls in the digital asset category.


In fact my bitcointalk account will also go to my wife if I pass away first.

As it is a digital asset.

Ok, i appreciate your input. US is indeed a great nation.

Why will you be comfortable to leave your bitcointalk account to you wife if you pass on. Will your wife be able to maintain your personality or have the same level of bitcoin knowledge as you in order to keep up your account?

If bitcointalk account is declared as an asset in US, does it mean that you pay tax on your bitcointalk signature campaign earnings?

I am very curious what would happen in the US in such a situation:
A man died who had 1000 bitcoins but did not declare his income.
Will his children inherit his coins or will the IRS penalise the estate?

the 1000 bitcoins is definitely going to the US strategic reserve ;D

As far as I know there are no rules and laws applied by local authorities regarding traditional wills for Bitcoin/Crypto users even though the country is legally legal in the country.

I think that is not possible to do, Bitcoin requires special rules for users, such as wallets, wallets, passwords, devices and internet access, that can make the recipient The will a little dizzy, for those who do not understand the Bitcoin work system, even if it is done it requires a special understanding for the recipients of the will.

Passing down BTC to your heirs is not simply as easy as stating it in your will, are you going to record your seed phrase in the will and hand it over to your attorney or executor, because of how sensitive such an information is, many people are reluctant to do it that way. That is the reason why topics on BTC inheritance is popular in the forum and you can use the search button to find many of them and decide which one works best for you.

I have read a lot of suggestions. It seems there is no one way method to do this.

There are a few ways to do it, but it depends on what you are able to implement. If it is going to compromise your security, then i recommend that you do not do it, however, if you find a way that works for you without compromising your security, then you should go for it, just make sure to do your research very well.

I believe so too. Whether bitcoin will be classified in another category other than fiat money depends on the legal status it has in a particular country. There could be a reserve area as commodity as we can have gold, silver, oil, platinum and other metals. So Bitcoin can be categorized as digital assets and currency where it is accepted and adopted in a country. But if it is banned in a country then it can't be included as assets to be part of the will, you could only convert to what currency known and accepted in the country.