Would you include bitcoins in your will (and make it a quest)?

[SimmonenY]

(hypothetically) When I die I'd like my children to have all my bitcoins. So I was thinking of writing a will to give each of them equal amount but to make it more fun I'd hide the keys from my wallet and make it a quest.

Why don't you just simply make each of your child a wallet and divide your bitcoin and send it to each of their wallet,
seems like it is easier that way instead of putting it in your will just make sure to give them all the information they need to be able to use it.

Yes, that would be easier but I want them to have fun and distract them from my death and also I want them to use their brains if they want my money)

[pixie85]

I have no children and ideally will never have any.

If I did I'd have to think long and hard about it. A depressingly large amount of families seem to come apart at the seams when money's up for grabs.

The quest element would add the opportunity for them to slowly murder each other.

LOL.....I don't think I've ever laughed so hard at something so depressing.

But yes, include it in your will. Technically it's money, so  technically it's an asset.

If you're worried about your kids murdering each other over your stored coins, you might as well be sure not to leave them anything or they might do the same over your house, car or anything else that you own.

I'd make a challenge for them, since including it in my will and making it official would probably mean huge taxes.

[electronicash]

I have no children and ideally will never have any.

If I did I'd have to think long and hard about it. A depressingly large amount of families seem to come apart at the seams when money's up for grabs.

The quest element would add the opportunity for them to slowly murder each other.

LOL.....I don't think I've ever laughed so hard at something so depressing.

But yes, include it in your will. Technically it's money, so  technically it's an asset.

If you're worried about your kids murdering each other over your stored coins, you might as well be sure not to leave them anything or they might do the same over your house, car or anything else that you own.

I'd make a challenge for them, since including it in my will and making it official would probably mean huge taxes.

handing over passwords to lawyers is more concerning.

or you can simply just hand those btc to them while you are still alive, you'd be glad to know how they handle such amount assuming 1 btc is more than $500k. money to a young man means freedom.

[Kateryna_Oli]

I think it will be a good gift for my grandchildren.
Maybe bitcoin will cost millions

[pepi04]

If I understand it correctly, the seed for the wallet (like in Electrum) can fully reproduce the wallet.

So if I have 2 kids, I could give each of them half the seed.

Makes it impossible for 1 of them to 'grab all', but together they can reproduce my bitcoins even if they can't access my computer anymore.

Can anyone comment whether this could work or raises potential concerns?

[Kakmakr]

The Treasure Hunt / Quest is a very good idea. I used to draw treasure maps for my kids when they were much younger and they used to search for hours to get to their treasures. It usually consisted of some chocolates, but it was great fun. I think this will be a good reminder for them, if I did the same. Just make sure you give the final solution to someone you trust, just as a backup. < clues might get lost and they might never find your bitcoin stash in the end >

Well Done, this was a very good idea. ^smile^

[Jherek]

(hypothetically) When I die I'd like my children to have all my bitcoins. So I was thinking of writing a will to give each of them equal amount but to make it more fun I'd hide the keys from my wallet and make it a quest.

What I would do instead of having an equal sum is to have sort of puzzles that vary in difficulty. Obviously, the most difficult puzzle will contain the largest prize, and in this case would be bitcoins

Your idea is great, you're actually giving me ideas already how to write my will even though i've only in my 20s and have no kids lol.

This seems like a good way to get the most coins to whoever that has the most intelligence out of my future kids in a fair, civilised manner. No one can dispute that the test was unfair because they're given the same clues.

People on this forum have done puzzles regarding brainwallet to prove how secure it is, i think it should be something like this.

[Ayiranorea]

I won't be including this to the will, rather I would explain my kids about the importance of bitcoin as well teach them the way it can be used in a good way. As OP stated if the keys were placed as a quest till the end it won't be used by anyone else.

[Xenophoto]

It was brought up by my sister before. She asked me what's going to happen to my bitcoins if I die. I said, nothing. They don't know about bitcoins. If I had the time, I might just make a step by step tutorial on how to withdraw all these funds to become fiat money. My last will will be like a tutorial. That would be so funny. Others' last will goes like, "My house will go to my sister whom I loved a lot." and then my last will will be like "My private keys are in my drawer. To convert it to fiat, step 1. ..." lol

I will not make it a quest. Making it a quest and have some clues/hints to solve the puzzle sure is a fun thing to do. But that gives a tendency for the kids to not find the bitcoins as well. If I die, I want to have the assurance that they will actually use my wealth which I spent a lot of time on.

[Doms]

Talk about going out in style. I wish I had a lot of bitcoins to begin with, but since I only got a few and I am not certain what the value of bitcoin would be many years from now, I would simply stick with the conventional way of passing (whatever) wealth I would have accumulated. Although I would assume that technology would have radically changed by the time I am really old, I would like to minimize the risks as much for my last will and testament.

[mk4]

(hypothetically) When I die I'd like my children to have all my bitcoins. So I was thinking of writing a will to give each of them equal amount but to make it more fun I'd hide the keys from my wallet and make it a quest.

Hah. Great question.

I'm too young to have a will (and kinda early to have children to be honest), but when I get a bit older (40s?) I'd surely write a will just so if ever an accident happens to me(hopefully not) or if I get like memory problems. and yes, I'd definitely divide it equally between my children.

About the quest:
I'm not sure if I'd like to do this to be honest. I'm not sure if my future children would be willing to do a quest recently after my death. haha. I'd prefer like a year after my death, this can probably be achievable by asking a close friend or relative to do give the quest to my children after a while.

I wouldn't make the quest too hard, but I'd make it short and special like.. have an encrypted text file containing the private key/recovery phrases with a password being like, my 5 favorite places or landmarks on our local city or something. That'll be interesting enough I think.

[deisik]

(hypothetically) When I die I'd like my children to have all my bitcoins. So I was thinking of writing a will to give each of them equal amount but to make it more fun I'd hide the keys from my wallet and make it a quest

I don't see any fun in that

Besides, Bitcoin is not like home where you live and have to stay while you are still overground, so if you are seriously looking for fun, you could run the quest before you are going to kick the bucket finally. In this way, you can enjoy the thrill of the game yourself, share the joy of the victory with your children, brighten up your last days somewhat, and maybe alleviate the pain and misery of your last hours

[buwaytress]

Even before Bitcoin arrived I always had a similar plan for my will. I don't own much at all in terms of property (nil) or money (next to nil) but I do "own" quite a bit of... intellectual property? Knowledge anyway. My simple set-up was that my email would send an automated message to some of my closest friends in the event I didn't log in after more than 30 days (a likelihood that I've died).

I suppose there is an element of fun in sending off people in search of inheritance. Perhaps when I finally own my first 1 BTC:)

[Xester]

So it would be like treasure hunting and the smarter one will inherit your wealth.  Exciting but how about the other family member.  Maybe just give everyone bitcoin.  Let them create their own wallet.  Maybe I will include bitcoins in my last will but not all of it.  I will exchange it to fiat then distribute them equally.

[Palmerson]

This idea is only good for film scripts. I don't understand why kids create difficulties. It is much easier to separate these bitcoins to different wallets and leave each of the kids in the will. Who will get your coins if quest is not solved. You need to wondering about you. how about the old senile?

[virasog]

A good smart contract and there is no need for a will, lol.  Although it would be a pain to have a scripted TX that checks various places for your death daily. But, you could include a simple task in your will that fires off the entire rest of the payouts.  In that case the whole lot of people in your will are paid with Bitcoin.  Each person is paid as a part of the output. That is easy.

[qiman]

I would do that for sure if I had enough to give away to special family members. At present I don't really hold much that would be worth considering to put in a will, but if I ever make enough Bitcoin, I will surely do that as our Loved Ones need to be taken care of.

[noictib]

(hypothetically) When I die I'd like my children to have all my bitcoins. So I was thinking of writing a will to give each of them equal amount but to make it more fun I'd hide the keys from my wallet and make it a quest.

This is really a good thinking but here I am thinking quite different from you because it is more better to explain them for the Bitcoin instead of giving them the address of Bitcoin private key , Because if you will teach your children for the Bitcoin that how to deal and how to manage and how to make in wiseful ways then they will be able to use in better ways  of the Bitcoin that you will make before the die .
If you will ask for the private key then I will suggest you for the print out and then put it at safe place and tell your children how to use it to get in online .

[Casabrandy]

(hypothetically) When I die I'd like my children to have all my bitcoins. So I was thinking of writing a will to give each of them equal amount but to make it more fun I'd hide the keys from my wallet and make it a quest.

This is really a good thinking but here I am thinking quite different from you because it is more better to explain them for the Bitcoin instead of giving them the address of Bitcoin private key , Because if you will teach your children for the Bitcoin that how to deal and how to manage and how to make in wiseful ways then they will be able to use in better ways  of the Bitcoin that you will make before the die .
If you will ask for the private key then I will suggest you for the print out and then put it at safe place and tell your children how to use it to get in online .

The very reason why we save and hold bitcoin for long is for future , for having a comfortable life so why make it hard for them. That's right to teach them ahead of time if they are capable already in understanding things for are savings not to get wasted.

[haroldtee]

A quest is nice, never thought about it. As they keep growing up, every kid will have a knowledge of something they will never forget and apparently only them knows or I may keep hinting them about things they shold know and never forget. I may just include all those in the quest. At first, maybe let's say I have 2 kids, so I will just open 2 different wallets, fill up the 2 as I want and make sure they are at least familiar with bitcoin so it won't be strange or hard when trying to collect their inheritance. Then I will open 2 different safe in banks if possible and make them the next of kin. I will let them know they can access it only when I'm deceased which the banks would know that too already. Voila! Their first quest starts from there until they are able to find the wallet details that leads to their lovely inheritance.

Gosh! I just finished writing an epistle... but really why will I go through that stress when I can just put the wallet details in a bank safe for them?