When (if Tenable) is The Right Time to Share Your Bitcoin Private Keys?

[Mate2237]

This is one of the discussions in the forum that has no ending. We have discussed this time without number and I believed the answers will not change even they are paraphrased. Let me also contribute to knowledge. Like the guy that die early this month or late last which was announced in the Reputation Board would have given how seed phrase to a close and trusted relative. In life when you have gotten a family on you own, you make a will to your child, and in the will you wrote the seed phrase and sealed it so that nobody will see it.

And when the child grow up you teach him how to use Wallet and when you see that he or she is capable of handling your funds then gradually release part of the funds to his wallet to see if he can do well with them. And if you sick seriously then you tell him the seed phrase of the main Wallet or you call the lawyer to come and read the will to them before you pass out. Showing the seed phrase to a trustworthy person in the family is also good because dead is inevitable.

[Churchillvv]

When I received a notification of this topic on the Tryninja notification bot, I had a feeling that this forum must have witnessed a question like this in the past, but for a newbie like me, it's the first time. I have thought of this before, and I think I have put this case in place already.

The day I saw the post of one of our deceased, I thought of making proper arrangements for my life. Even though I'm still very young, I still have to be cautious, though planning for death is more like insane. But we must all acknowledge the fact that we are all going to die some day, even if it's not today.

I have told my closest family member of my little investment that I have somewhere, but I have never told her the exact thing because I don't have enough bitcoin yet, so I don't have to worry myself now, but as soon as I get a hardware wallet, I will have to disclose the private key to her. That's my plan for now, but this might change in the future.

[batang_bitcoin]

There were too many discussions about this topic a long time ago and will continue to be discussed as long as someone opens it. Well this time, I have already planned it and I've left some hints to my family just in case I'll be leaving this world all of a sudden. But just as we, people change and I might change that plan if ever something I've found that I don't like based on their actions and behavior towards me.

[Nwada001]

This thing about trust I don't know how you guys look at it, especially when it comes to family, marriage, children, and all that. Before you move ahead and get married to a man or woman, there are things that you use to judge them before making your decision, and if you don't trust them at all, there is no way you are going to start a family with the person.
 
So, to cut the whole story short, if you are married for security reasons, your spouse should at least be aware of some of your holdings destinations in case of emergency.
 
Currently, almost all my wallet's details I don't hide from one of my trusted family members; he doesn't have access to them currently, but if an emergency arises someday, he knows the way about my holdings, and with little support from others, they could be able to access them, so my holdings are secured to some extent.

[franky1]

if you cannot even trust your wife with your finances then its time for a divorce

bitcoin offers a feature called a multisig
if you have 2 kids and you worry they will try to get greedy and take funds before your death. put your funds into a 4 of 5 multisig

each kid has a key, the wife has a key you have a key and the lawyer holding your un-publicised Will has a key
individually your lawyer, wife, kids cannot unlock the funds independently.

whilst alive you and your family(basically you as you keep copies of their keys) can move funds using your key
you dont reveal your key.

after your death the lawyer announces the 5th key that is used instead of your key. that way if you never disclose your key to family. the family can use in conjunction with lawyer the key to be the 4th of 5th replacement of your key. under the guidelines of what your wrote in the will as the direction of agreed distribution of funds

you dont even have to have one lump of funds to move at the directions wrote in a will upon death.. you can pre fund amounts distributed to intended inheritors but they are unable to be spent by them until you sign or you die and the lawyer signs
you can preset 3 multisigs
EG
kid A, wife .. husband or lawyer of 3 of 4
kid B, wife .. husband or lawyer of 3 of 4

wife.. husband or lawyer of 2 of 3

[lionheart78]

I don't have a problem sharing my Private Keys with my parents/partner in life.  My wealth is theirs as they are the reason why I am working. So to answer the question of when to share my private key is when the wallet address got its first fund.  Many may disagree with me but that is my belief.  I don't want my hard work go to nothing when the time comes.  And that also give me a peace of mind that my accumulated wealth is secured in the hand of my beloved.

[Ojima-ojo]

This is actually a topic or subject that have been discussed here several times, but then, this is still a very valid question and something interesting to further discuss about.

For me, I sincerely have no plans yet, am still quite young and am filled with the hope and believe that death is still very far off from me, I mean, no man prays to die untimely right? Yeah, and when we pray not to die untimely, it is important we back it up wit faith while keeping a clean hands and avoiding what could lead to an untimely death.

But again, aside from what I said above, I am not married yet, I can't possible share my bitcoin wallet private keys or details to my siblings or parents, I can only share this information with my wife and children when I finally get married and we have our own children.

[letteredhub]

This thing about trust I don't know how you guys look at it, especially when it comes to family, marriage, children, and all that. Before you move ahead and get married to a man or woman, there are things that you use to judge them before making your decision, and if you don't trust them at all, there is no way you are going to start a family with the person.
 
So, to cut the whole story short, if you are married for security reasons, your spouse should at least be aware of some of your holdings destinations in case of emergency.
 
Currently, almost all my wallet's details I don't hide from one of my trusted family members; he doesn't have access to them currently, but if an emergency arises someday, he knows the way about my holdings, and with little support from others, they could be able to access them, so my holdings are secured to some extent.

People take trust issues too extreme but the truth is that you've no choice but to have someone to put your trust in and confide in him or her for this reason of sudden death to be sure you have your family to benefit from your investment in the case of emergency that takes your life or a brain damage.  When we choose who to marry we also unconsciously and consciously have taken a decision of sharing certain vital secretive informations with that person we call spouse, what I see as to why many people are scared of leaking such vital information as private keys to spouse is due to how  prevalent the divorce cases has been on the surge nowadays and it has become a lesson for them in the aftermath of what resulted in such divorce cases. But still, we ought to have someone to trust with informations because life events such as death is unpredictable and inevitable.

[TelolettOm]

What's your plan for your bitcoins when you die since you've probably not shared your private keys with anyone or have you? Do you have someone you trust enough, say your spouse, to let them in on your BTC private keys or will you be buried with your coins even if there are family or loved ones to whom your bitcoins may be of benefit?
Do you have plans to share the keys down the line?
What if an accident happens and you're incapacitated or worse?

This may become a debate because it involves individual preferences. And each individual's preferences may be different. Moreover, this is related to private keys, because this is quite a sensitive matter, involving assets and money. I'm sure not just random people can find out our private keys and we will definitely share them with people we really trust and we can take that risk. because this is a risky thing, so we have to be really sure about telling him, if not, then it's better to forget it first.

I personally believe in my wife, we have been living together and already know each other about assets in crypto. And he also understands this, so it's not a problem for me to put this trust in him. because this is also for the future of our children. We may not know what will happen in the future, but there is nothing wrong if we believe in someone who is currently very important to us and our small family. It would be better that way.

[lovesmayfamilis]

Such topics appear on the forum from time to time, and there is a feeling of “déjà vu” in the answers that users post.
OP, I won't be original. If you do not have close people, people whom you trust as yourself, you have nothing to worry about, since you can die calmly. Sorry for the cynicism. But your question contributes to this.
I will not reveal the secret, and you also write about it, that anything can happen by chance and unexpectedly. But you must have at least one person to whom you can entrust everything that remains after you, including private data. Tell and show what needs to be done in case of your absence.
But if there is not a single person to whom you can tell this, just forget it.

[OddJobsForBitcoin]

This is actually a topic or subject that have been discussed here several times, but then, this is still a very valid question and something interesting to further discuss about.

For me, I sincerely have no plans yet, am still quite young and am filled with the hope and believe that death is still very far off from me, I mean, no man prays to die untimely right? Yeah, and when we pray not to die untimely, it is important we back it up wit faith while keeping a clean hands and avoiding what could lead to an untimely death.

But again, aside from what I said above, I am not married yet, I can't possible share my bitcoin wallet private keys or details to my siblings or parents, I can only share this information with my wife and children when I finally get married and we have our own children.

What did I just read?

[zaim7413]

Everyone's goal is to collect wealth in any form of asset, including Bitcoin, for the welfare of their family in the future. No one wants the assets they have collected so far to be buried with them just because of greed or not having trust in anyone to access their wallet. Sharing private keys with loved ones such as wife and children would be better than carrying them in a coffin.
Wife and children are beloved people who are always every husband's priority. If you are not ready to share the private key with them, save the paper or whatever you write the private key on with a few notes so that people who find it are not confused about the contents stored in it. Unless they are already very close to Bitcoin.

[Natsuu]

But if there is not a single person to whom you can tell this, just forget it.

Sounds careless but you’re right. Especially if you death happened unexpectedly. Dont stress yourself over thing you cant control. You know the saying that you cant bring your riches when you die.

Personally I prefer to liquidate all my assets and sahre it to the fam. I dont want them stressing out over my things when im gone. But there are other options too like teaching your relative what to di and sharing to them your seedphrase. Or if you have no relative, maybe donate it to a charity? Whatever happens happens for a reason.