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Author Topic: Can you 'Will' your bitcoin to your children?  (Read 508 times)
HajiBagi
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March 16, 2023, 08:00:00 PM
 #61

They are all your children, you should talk to them as one big, joyful family and refer to them as such as a good father. You can't "Will" to your cherished child; all you need to do is explain it to them; however, you shouldn't give them all access to the private key. You should also teach them how to invest and help them learn more about bitcoin; obtain five wallets; and share your will that each of them deserves to be your child with each of them while also giving them their individual private keys.

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lalabotax
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March 16, 2023, 09:17:24 PM
 #62

In a case where you have five children and you don't have much physical assets but you have a enough bitcoin that non of your children are aware of it. Now your age is advancing, you begins to prepare "WILL" and there is no way to divide and share bitcoin account to the five children! What will you do? Since non of them are aware.
There are some conditions that may happen.
1. What age are they? Are they ready with Bitcoin if they are told about it? Is the age enough to be wisely accepting Bitcoin without any trouble later? And will you give or share your Bitcoin with them entirely?
2. If I were you, I will tell them about it, and divide the Bitcoin into 4 wallets. the amount will depend on the ways you share it. Because in my area or my religion, there are some laws in sharing assets. That is why you must pay attention to it, regarding a fair decision.
3. After dividing the assets into 4, I will tell them, the one that has been enough ready to work with Bitcoin, one by one.
4. Ensure that you have told them about Bitcoin being an investment, not to sell directly once you give it.
Actually, it will also depend on your children, how their personalities and individual, mental also must be considered whether they are ready enough or not. 

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March 16, 2023, 11:49:03 PM
 #63

Yes by the time, and until my child goes to mature up to 18 years old +. I just prepared wallet.dat and printed private keys for each of my children. and of course not only that, I will teach them how to manage their assets and how to be good investors like Warren.

Teaching your children about Bitcoin and how to manage their assets is cool, but are you going to will your crypto to them when they are 18 or when you are so old?

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March 17, 2023, 03:40:36 AM
 #64

There are plenty of projects that actually can take care the inheritance nowadays. People can use a specialized service that can help manage the distribution of cryptocurrency assets after your passing. These services, sometimes called "crypto estate planners" or "crypto inheritance services," are designed to help individuals plan for the transfer of their cryptocurrency assets to their heirs in a secure and transparent way.

These services can provide a variety of tools and services, including multi-signature wallets that require multiple parties to sign off on transactions, secure storage solutions, and detailed instructions for the distribution of assets. Some of these services also offer legal and financial planning advice to help ensure that your assets are distributed in accordance with your wishes.

If you are considering using a crypto estate planning service, it's important to do your research and choose a reputable provider with a proven track record of success. Look for providers that have experience working with cryptocurrency assets and a strong reputation in the industry. Consulting with a financial planner or estate planning attorney can also help you make an informed decision about the best way to manage your cryptocurrency assets after your passing.

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March 17, 2023, 06:41:18 AM
 #65

Or what will you do?
That's a great idea, leaving something valuable for your children will show your love towards their better future but the implementation of it is of great essence as some people make their "Will" and select someone from their family or from friends to share the "Will"  with there child after death but as far as I saw this does not go well. Those who have the "will" become desirous as the economy started to come down and prices of properties and assets start to go up. This urges those will protectors to steal money.

So, I will advise you to tell them about your will and thoughts on your own so that after death there occur no fights and disputes among them.

Divide the BTC accordingly as you want or as it is legalized to distribute in your country. Then make different accounts and distributes them among them.

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March 17, 2023, 07:39:35 AM
 #66

In a case where you have five children and you don't have much physical assets but you have a enough bitcoin that non of your children are aware of it. Now your age is advancing, you begins to prepare "WILL" and there is no way to divide and share bitcoin account to the five children! What will you do? Since non of them are aware.

Can you "WILL" the private key to your favorite child or call them together and reveal the private key to them? Or what will you do?
OK guys is up to you!

I wouldn't really give my private key to my kids yet, Bitcoin was just a great technology, and it's a waste if I will not teach them to my family or even to my kids. So when I think it's the right time I will totally teach them about bitcoin, investing, and everything. I mean it's a good way to also teach them to invest on their selves so that in the future they might have investment funds etc. Giving them your private key was not a great idea I think since it adds risk to your wallet and that might spoil them.

What I will do is just wrote everything in a notebook or paper I will hide everything that they needed there in order to access everything that is related to cryptocurrency. And then when I die they can easily access those funds since they know bitcoin and you teach them about it.


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March 17, 2023, 09:05:00 AM
 #67

Before you pass on your bitcoin to your children, make sure they are old enough to handle it, Bitcoin holders are supposed to keep the secrets to themselves because the society we live in today is not as safe as many think, although it depends on the country you are from, I won't dare go public about Bitcoin I hold here.

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