In event of your death

[ladydark]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

If your health is now worse,then its a critical issue.The only way i could see is that you can sell your bitcoins for cash and buy some properties in name of your nephews.That idea would work better.

[1713270535]

1713270535

[Vohoanghiep]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

I think you should use the money you earn to buy property and make a will for them to name. That's an effective way. Besides, you can also ask a trusted person to keep all your keys and wallet, after you die he or she will transfer all of that to the person you want to leave.

[Palmerson]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

I think you should use the money you earn to buy property and make a will for them to name. That's an effective way. Besides, you can also ask a trusted person to keep all your keys and wallet, after you die he or she will transfer all of that to the person you want to leave.

I think that in this case, it is to be trusted is not a good idea. Where you have a guarantee that after your death people will be given the keys. The idea of real estate more attractive. You can purchase mining equipment and to leave a legacy. Then your money will work for your family after your death.

[jtipt]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

If your health is now worse,then its a critical issue.The only way i could see is that you can sell your bitcoins for cash and buy some properties in name of your nephews.That idea would work better.

Yeah that's a rather good idea, that way OP doesn't have to trust anybody with sensitive private keys and also not worry about the volatility of bitcoin. It would be the safest way for his nieces and nephews to inherit OP's BTC wealth.

[tu-co]

I would just write a will with my lawyer then open a safe with a good bank to keep all my wallet details which are to be disclosed to my lawyer in the presence of my named nephews and nieces and all beneficiaries only when I am deceased. In that way, you should be able to share your profit with no kwams.

AFAIK, there is currently no law that makes it illegal for the lawyer to "steal" those coins, before or after the testator's death (this has been discussed on the forum again and again, "stealing" bitcoins has not been defined legally yet). Unless OP lives in an area where mystic wills are allowed (the will would contain the private keys), even those require three witnesses ready to testify the authenticity of that will which may be a risky proposition as those witnesses may or may not be alive/available at the time of the testator's death.

This problem can be solved by using smart contracts if there is a foolproof, non-tamperable way to digitally record one's death. I can't think of any such way other than, lets say, you not signing into your email account for more than 3 months or whatever you set it at.

[Harlot]

Well in that case you have nothing left to do, without approaching anyone for your last will and testament after you die your Bitcoins and all of your fortune will be shared by the next of kin which are your siblings. So if you really don't want your siblings to have all of it you must tell it to your lawyer on what to do. Also maybe an alternative step is just donate your Bitcoin to your nephews and nieces if they are in the respective right age. You should be taking care of this about now as it can determine if your Bitcoin will be useless after your death.

[que91]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

If your health is now worse,then its a critical issue.The only way i could see is that you can sell your bitcoins for cash and buy some properties in name of your nephews.That idea would work better.

This is really an interesting question, bitcoin ensures the security of our money, so it has absolute security, your relatives must know about your private key to own bitcoin. Otherwise, your bitcoin will be permanently lost.

Haha, if scared that, always ready with death anytime and write a will for your family before it happens. Don't forget teach them how to use private key and using Bitcoin or exchange Bitcoin to FIAT, if not know that, have private key just useless

[NathanJB]

How old are you by the way sir? You may wait a little more time for your nieces and nephews to gain more age and wisdom to be able to understand everything. If you think there is no more time left for you, I think you better invest those to stuff they could easily get by the time you left this world.

[Aikidoka]

I hope you die after 10000 years. No, brother. You shouldn't think about death right now. Focus on your career and yourself. Rely on yourself. Believe in yourself. Trust yourself. I might have strayed too far from the actual topic. But if you read this, do what I said. And if you feel that death is nearby, write a will and give your fortune to your beloved ones.

[deepcolderwallet]

Write down your wallet's seed hidden in a book. Show the book cover and those twelve words to your siblings, explain them how to re-create a wallet with these words. Show them how to find the book in your shelf. Don't involve lawyers or anybody strange to your family.

Bad idea, obviously the odds of someone finding this seed in your book is extremely small, but it simply cannot be ignored especially if you are planning on giving massive amounts of bitcoin in your will. And in a situation where there are no backups, even if something minor like a house fire occurs, you are at risk of losing the seed to recover the wallet.

Someone should be very stupid to leave an amount of Bitcoin worth leaving to posterity WITHOUT BACKUPS!
The fact I did not mention doing backups in the same style (seed hidden on books) does not mean IT IS NOT OBVIOUS that a backup MUST be in other places.
And if done in a correct way (I'm not specifying here, you use your imagination as you will) a seed hidden in a book (or some specific books) is a perfect way to leave inheritance.

[santieevanz]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

Well if you think that you're death is near and you really wanted to give your nieces and nephews a profit of it since they are still young, i think the very best idea for you is used the money to buy a property. A property that was named for them and that's the most effective way in leaving them some good things and if your bestfriend/close friend is still in your side, you can ask for their help to keep those keys and tell her to transfer everything to you niece and nephews at the right time So goodluck and enjoy the remaining time of yours

[hritevanz]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

To be honest, i am bit sad knowing that you are thinking of your death and planning to give your nieces and nephews some good stuff before you leave which made me think that maybe you're death is near. But then, if you really wanted to give your nieces/nephews some profits of yours i'd prefer you to buy a property which was named for them. You can ask an attorney for that, but still you gotta go and check the background of the attorney Go out and enjoy your life SIMPLE 

[Oilacris]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyers to give them my private keys. I am wondering, what can I do?

If your health is now worse,then its a critical issue.The only way i could see is that you can sell your bitcoins for cash and buy some properties in name of your nephews.That idea would work better.

This is really an interesting question, bitcoin ensures the security of our money, so it has absolute security, your relatives must know about your private key to own bitcoin. Otherwise, your bitcoin will be permanently lost.

Haha, if scared that, always ready with death anytime and write a will for your family before it happens. Don't forget teach them how to use private key and using Bitcoin or exchange Bitcoin to FIAT, if not know that, have private key just useless

Its just a common sense to say to them about on how to use those private keys its just like that you are giving our a password on your atm card because if they wont know such thing then expect for those bitcoin will be surely lost and no one would able to access it forever thats why its important to tell them before you die on the most important things to access that wallet..

[Silberman]

I see some of you point out lawyers but how can I trust a lawyer when the subject is bitcoin? I can't trust a damn lawyer for my bitcoin.

Bitcoin is breaking records now a days you in a future you will allow to hire a lawyer to handle your case according to bitcoin. Don't take it easily take everything serious.Because sometimes the seeing thing is not the same inside which is looking toward. So i will bit you will hire a bitcoin if something happen like that.

Don’t get me wrong but the whole point of bitcoin is to eliminate the need to trust a third party with your money, so using a lawyer is something that goes against bitcoin’s nature, so we need to find ways to be able to pass on our bitcoin wealth without using a third party and at the same time without risking losing our wealth in the process too.

[olubams]

This is something I haven't really given a thought but reading at several replies to this thread gave a feeling of start making plans towards something like that because no actually knows except someone having a terminal disease couple with several ways to die that abounds without any notice. I guess trusting someone is just the key to all this that without it nothing can actually be done.

[Hui8]

Wow thats like advance civilisation thinking! I did not think of this in anytime before I read your thread here. Need to think of it in the legal way as internet is full of scam. If I will have to do that then I will keep everything written in my will and give away password and usernames and private keys to my advocate probably. (If I’m rich enough) Or else will write it down and give the address to it in the will itself. Sounds scifi story but thats the only thing I could do.

[Mpamaegbu]

I am wondering what provisions have you all made in case you die before cashing out your bitcoins? I am single, live alone and both my parents are deceased. My siblings dont care about any of this, however I would like my nieces and nephews to get some of my profits but they are still very young right now. I dont trust lawyer to give them my private keys. I am wondering, what can I do?

I would be lying if I told you I hadn't thought about this thing OP pointed out. Death is inevitable and most times comes when least expected. It doesn't select age before it visits. For me, I really haven't taken any measure to guard against this inevitability even though I am a married guy. My wife knows a bit about Bitcoin but doesn't pay it any attention. So, I am left alone in the game. That means I should begin to plan on something soon that would safeguard my satoshis in terms of any demise.

[Anfisman]

Oh I'm so sorry to hear that. If I were you, I would make as much preparation before I die, I would write a letter and put it in an envelope and I will put a memory with a video about where my bitcoin would be given, and I would give it to my brother, and tell him that this envelope Is my inheritance and should only be opened after I die. Maybe that's the way you can do if you do not trust the lawyer at this time. And I believe sometimes we more trust families than anyone. But I hope you have a long life so you can enjoy your hard work with your loved ones.

[Renji Abarai]

This is a great question, what will happen to our crypto assets when we ceased to exist. In our family, I am the only one who is having the passion about this cryptocurrency. Though I teach them the basic but the technicalities about the pvt keys, and several account in trading and some eth wallet are completely unknown to them. I think I would make an instruction or guidelines and put in a safe place and tell them to read and study. All this effort will go to waste if no one knows in our family.

[gabmen]

This is a great question, what will happen to our crypto assets when we ceased to exist. In our family, I am the only one who is having the passion about this cryptocurrency. Though I teach them the basic but the technicalities about the pvt keys, and several account in trading and some eth wallet are completely unknown to them. I think I would make an instruction or guidelines and put in a safe place and tell them to read and study. All this effort will go to waste if no one knows in our family.

Indeed. That's why i think its better if we can get more people to be interested in bitcoin so that if anything unwanted like that happens, it wouldn't be hard to explain to your loved ones what to do. We wouldn't want non-family members or people who aren't even close to ua getting evrything we've worked for in btc right? Especially if its a good amount that you've stored