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Author Topic: How can i pass on my bitcoins in case i die?  (Read 6321 times)
mammabitcoin2u
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August 18, 2016, 03:42:21 AM
 #21

what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.

I haven't thought about this situation but I would probably write down the account details for the web wallet, the 2FA how it works and how to use it, the hardware wallet how to a video in my HDD or hosted on google drive, and if it is a paper wallet just the private key. If they could not know even after this explanation I would suggest them to ask a friend or someone who knows to use bitcoin.

I do not want to give them to many instructions on how to use the bitcoin or my private key. if they can not figure this out on their own, then they do not deserve the bitcoin.
also i am not using a web wallet for this.

You can set up a server that requires an email sent to it every month before it will email your family members with instructions and the private key.
Possibly could make it a smart contract maybe?

Pity that you don't like my previously suggestions)
You can make easy. Right down an e-mail with everything and put timer 1 week (1 month .etc) on it. And if you are dont die in this 1 week (......) you just put a new date of sending.     

the safe and key necklace is one of the better choices but i prefer e-mail or smart contract one so far.
the problem i see with a will and the attorney as a trusty is that i still want to use the bitcoins and so my private key changes from time to time and i would need to adjust my will.
no attorney will want to change it almost daily for free and i will not pay for every change.   

I only know of USA law:
1st you create a will (attorney's hold that will until you die, your will will be filed in Probate Court as well (unless you do it privately then the court portion doesn't apply) if atty is no longer in business or living, then whomever they appoint to guard their papers will have your will until you die.

You do not need to list the private keys in your will, only you wish to leave XXXX with your Bitcoins XXXX.  As for changing your private keys from time to time-those should be stored from time to time by you (to easily be found in the event of your death) these do not have to be updated constantly on a will.

If you think someone is going to go into your personal paper files at home, looking for your BTC keys, then you should reconsider the company you keep  Undecided

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August 18, 2016, 09:08:13 AM
 #22

First make sure your family know about bitcoin and teach them how to use offline wallet.Now secure your bitcoin with any offline wallet with proper backup.Write down private key or password on a paper with all instructions and put it in a bank locker.Your nominee will get access to it after your death

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August 18, 2016, 09:36:54 AM
 #23

Store a paper with the private keys somewhere safe or for safety reasons, make clues and steps how to get your private key. And if you want to pass your Bitcoins to someone who does not know about it, write instructuons on how to use it, transfer to fiat and how to set up a wallet and of course, how to import the private key.
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August 18, 2016, 09:40:57 AM
 #24

The only way I can think is to make a letter with your bit account and password and a brief explanation of what you left. Hide it somewhere, uhh safe.
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August 18, 2016, 10:00:13 AM
 #25

what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.

Hmmm, this is a serious issue that everyone should actually b thinking of because no one knows. I will want to learn from here and see if its applicable to my situation then apply it accordingly...
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August 20, 2016, 07:55:59 AM
 #26

If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
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August 20, 2016, 12:26:06 PM
 #27

If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.

not a bad idea, but i would need to have the possibility of an instant excess to my funds while i am still alive. maybe with some kind of master password. i should look further into this.

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August 20, 2016, 06:55:34 PM
 #28

Perhaps making a will with a password to a zip file or something encrypted with your family, and storing the key or password away with your lawyer and the wallet with your loved ones.
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August 20, 2016, 11:23:51 PM
 #29

If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"

It is good thing that you can write down your private keys and include it as appendix to your last will.


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August 21, 2016, 08:12:01 AM
 #30

If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"

It is good thing that you can write down your private keys and include it as appendix to your last will.

You do have to make sure that your will is sealed and secure.
Plus once you die, those who execute the will have to be absolutely trustworthy.
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August 21, 2016, 09:15:12 AM
 #31

If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"

It is good thing that you can write down your private keys and include it as appendix to your last will.

You do have to make sure that your will is sealed and secure.
Plus once you die, those who execute the will have to be absolutely trustworthy.

i do not know my time of death, so i will use my coin and change my private key an a regular basis. it is not practical to change my sealed and secured will every time. this is a problem.

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August 21, 2016, 10:01:19 AM
 #32

If you don't trust your family, you could consider using time locks.
I am not familiar with the concept, but you can transfer coins to your loved ones after a period of time.
After reading opening post I am under the impression that Op doesn't trust his family at all.
If that was the case the why he would just tell them: "that this is my private key, when I am gone use it as you like"

It is good thing that you can write down your private keys and include it as appendix to your last will.

You do have to make sure that your will is sealed and secure.
Plus once you die, those who execute the will have to be absolutely trustworthy.

i do not know my time of death, so i will use my coin and change my private key an a regular basis. it is not practical to change my sealed and secured will every time. this is a problem.
Its not a good thing that you always change your private key for me better to make a permanent private key and put it them in notes hide it or give them to your trusted family and say that dont open it if i still alive.. open it when i died..
Or you can set your computer with automated program that will pop up in front of the laptop that can see from anyone about telling the story and put the private key and how they can redeem it..

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August 21, 2016, 10:32:01 AM
 #33

what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.


Wrote down your private keys,online wallets, username,password where you putted all your Bitcoins, if you want to store it in paper wallet or online wallet and put it into a safe and don't forget to put instructions precisely and easy to understand on how to use and how to get those Bitcoins in their respective storage because for sure they would be confuse especially if they're not tech savvy so that in the moment you die the you can tell them about the safe where you put all your Bitcoin holdings.

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August 21, 2016, 10:48:38 AM
 #34

what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.


Wrote down your private keys,online wallets, username,password where you putted all your Bitcoins, if you want to store it in paper wallet or online wallet and put it into a safe and don't forget to put instructions precisely and easy to understand on how to use and how to get those Bitcoins in their respective storage because for sure they would be confuse especially if they're not tech savvy so that in the moment you die the you can tell them about the safe where you put all your Bitcoin holdings.

and if they are not around in the moment i die? or when i die so fast and unexpected like in a car crash? if i tell them before how can i prevent them to clear the safe before i die?

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August 21, 2016, 05:05:14 PM
 #35

I would save the keys, and detailed instructions on a USB drive.
Put a step by step guide so that someone who has no idea how to use a computer could do it. Don't assume anything. They may need screenshots with arrows pointing to the button they need to press etc.

Then put that USB drive in a fireproof safe, or rent a safe deposit box.
You should leave the USB in your will with instructions who it goes to, but you may want to have a discussion with that person before, so they know what to do with the information when they get it.
Remember how confusing everything was when you were first learning.
Think of the things that you had trouble with when you started.

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August 21, 2016, 06:43:28 PM
 #36

what can i do to make sure, that after my death my loved ones can inherit my bitcoin?
and only after my death and not before. so giving them my privatkey now is not an option.


Wrote down your private keys,online wallets, username,password where you putted all your Bitcoins, if you want to store it in paper wallet or online wallet and put it into a safe and don't forget to put instructions precisely and easy to understand on how to use and how to get those Bitcoins in their respective storage because for sure they would be confuse especially if they're not tech savvy so that in the moment you die the you can tell them about the safe where you put all your Bitcoin holdings.

and if they are not around in the moment i die? or when i die so fast and unexpected like in a car crash? if i tell them before how can i prevent them to clear the safe before i die?

Aren't there attorneys who execute wills like in this case ? I am sure you should be able to put in all that info inside a letter and give it to your attorney. They will be legally binded to give your family the will on your death.
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September 08, 2016, 01:44:18 PM
 #37

This topic put a smile on my face.  Uhm.. I think you must give it to the beneficiary of yours when you feel like dying.  It would be hard for them to understand about bitcoins if they are not aware of it.  Worse thing is that they might think that it is not really something valueable.  But if you insist on doing this you could write it on your last will and testament and then told your lawyer about it.  Meanwhile, train or introduce that person who will inherit your bitcoins to bitcoins.  Make him or her familiar with it.
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September 08, 2016, 03:05:07 PM
 #38

This topic put a smile on my face.  Uhm.. I think you must give it to the beneficiary of yours when you feel like dying.  It would be hard for them to understand about bitcoins if they are not aware of it.  Worse thing is that they might think that it is not really something valueable.  But if you insist on doing this you could write it on your last will and testament and then told your lawyer about it.  Meanwhile, train or introduce that person who will inherit your bitcoins to bitcoins.  Make him or her familiar with it.

The question is how to transfer your bitcoins securely to your heirs.
Putting it in your will and telling your lawyer won't solve the problem. How will your heirs actually access your bitcoins?
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September 08, 2016, 03:33:08 PM
 #39

If you are low tech style and keep a copy of your keys written down then write a letter to your loved ones with step by step instructions and keys, and keep it in the same place. No greater risk that you are already taking. Of course if the place will not be found when you die, thats a problem ;-)

A more flexible approach could be to give them the password to an encrypted drive which will be found when you die. This has instructions/keys but you dont need to tell them that its BTC related now if you dont want to. They have to steal the drive to rob you of the coins....and if thats a consideration then why leave them anything! Help the BTC community with a little extra price inflation!

I also wouldnt be surprised if some of the secure BTC storage providers like Xapo or the like have a related service? If you have registered the account with ID etc then it should transfer to the heir and you can leave instructions in the will without mentioning too many details or keys etc? Just say I have an account with xxxx and all funds pass to xxxxx?

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September 08, 2016, 05:52:50 PM
 #40

I agree with everyone else - talk to your attorney and make sure to clearly indicate this in your will.  You are going to have to give the keys to someone so they can properly access it if god forbid something should happen to you.

I love Bitcoin
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