Bitcoin Inheritance Planning

[AAKODI]

You might think this topic is useless but I think it is very important to consider because for any wealth in the real world there is a way to pass them when some one die, deceased or for any other reason and to do that effectively there are law firms or lawyers who follow well constructed formal methods but do we have such things for bitcoin because handing over its inheritance though a third party means a risky thing so how can we do it effectively ? and are there any effective methods in the current world ?

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[DeathAngel]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

[BrewMaster]

this subject has been discussed so many times before and you can do a little search to find what people have  said so far and if you have anything then please try adding it to those discussions instead of restarting the whole thing here again.

[mk4]

Take a look at the discussions in these existing threads:

• Topic: Saving Bitcoins for your Children. https://bitcointalk.org/index.php?topic=2280360.0
• Topic: Inherit coins to my family after passed away https://bitcointalk.org/index.php?topic=2256605.0
• Topic: How can i pass on my bitcoins in case i die? https://bitcointalk.org/index.php?topic=1587610.0
• Topic: Death & Bitcoin: How I Prepared My Family’s Digital Inheritance https://bitcointalk.org/index.php?topic=1740675.0

[YuginKadoya]

Take a look at the discussions in these existing threads:

• Topic: Saving Bitcoins for your Children. https://bitcointalk.org/index.php?topic=2280360.0
• Topic: Inherit coins to my family after passed away https://bitcointalk.org/index.php?topic=2256605.0
• Topic: How can i pass on my bitcoins in case i die? https://bitcointalk.org/index.php?topic=1587610.0
• Topic: Death & Bitcoin: How I Prepared My Family’s Digital Inheritance https://bitcointalk.org/index.php?topic=1740675.0

We sure have a lot of topics involving ways for people to inherit their property and their digital currency as well It is good to know what other people might think on a way on how they can handle this thing and giving their trust in a third person to handle their Cryptocurrency, A safety deposit box was the thing I am thinking about and inside was my account and password on it.

I really think OP doesn't want to bother searching the forum and just want to make a good topic, But we should use the search bar more often there are lots of circulating topic that is good to re-upload.

[guy369]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

Why would you need to trust someone in order to create a legacy plan?

All my stuff is going to my best friend currently, he knows how to access them and knows the access code to my wallet via my iOS app.

[Shiversnow]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

I always tell to my parent that I have bitcoin and in my wallet and my parent also know my password and private key so if there is an emergency that they need a money they use my wallet to convert my bitcoin into fiat. But, I think once I die I will inherit all my bitcoin to my family.

[dothebeats]

A rhetorical question, but since you seem to still be confused of what to do (or due to laziness, and albeit the tons of topics already created discussing the similar matter), here are some suggestions:

• Hide the privkey somewhere in plain sight e.g. a picture frame, a clock, whatever. Tell your family how lovely that thing is and leave innuendos that will make them curious about it.

• Safety deposit box on banks work wonders, too. Just arrange your heirloom to be distributed to your family in the event of you dying.

• Teach them how to use bitcoin and they can perhaps, in the future, access yours if you give them your privkeys.

There are tons actually but these are the easiest and safest I can come up with on an afternoon lunch in a lazy Wednesday.

[pamelawjd]

I've published a bunch of free resources to help you create your own bitcoin inheritance plan. You can find templates on medium.com/@pamelawjd or on my website empoweredlaw.com. I've also given talks about this topic at LaBitConf, Honey Badger, Hackers Congress and similar events. You can watch them for free on youtube (they're not lectures, hopefully they're kinda entertaining). If you like the style and want to do more, I also published a book last year called Cryptoasset Inheritance Planning; A Simple Guide for Owners. You can see the table of contents and read free excerpts at amazon https://www.amazon.com/gp/product/1947910116/.

Just so you know, you don't have to hire a lawyer and you don't have to trust any third party. Those are common myths, lots of people believe them but they're simply not true.

Good planning is more than just having someone find your keys. Because you won't be around to help them, and they'll be grieving and probably not too interested in your magic internet money, they might forget or worse get swindled by someone who offers to "help them". Leaving keys in a picture frame is usually a bad idea -they'll probably never find it if something happens to you - or they'll give it away to someone or send it to a charity as a donation. If you actually care about your family and friends getting your bitcoin, then you have to do something.

Of course you can always choose to do nothing, but if you do make a plan you could donate it to an open source project that you care about or directly to a developer whose work you want to support. Or an organization like the EFF that works to support free speech online.

Hope this is helpful. Good luck.

[crzy]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

I always tell to my parent that I have bitcoin and in my wallet and my parent also know my password and private key so if there is an emergency that they need a money they use my wallet to convert my bitcoin into fiat. But, I think once I die I will inherit all my bitcoin to my family.

Of course we should trust our own family, and for sure we are working hard to get the money simply because we love our family and we all want to provide good things for them. I also want to inherit all my money for them, they deserve it but since cryptomarket is still new there is no system like this. I have my black book, where I wrote everything so they can easily use my money to live and continue their life using my money.

[Kakmakr]

You need to have some serious discussions with the people who are going to inherit your Bitcoin fortune. Make sure they understand how Bitcoin work and how to access your private keys/Seed words for wallets/Passwords for sites and hardware wallets. I did not give the secret information to them in advance, but I explained to them how to extract it from the information that was provided to my lawyer.

Hint: A simple template that could be placed on one of your favourite books, would mean nothing to a lawyer, but it will reveal everything to my family. 

[jessyj48]

I have no plan for inheritance using my crypto holdings,but your point makes sense ,no one knows when death will come so I think it will be easier if one has a lawyer ,not just any lawyer a trustworthy lawyer then you can at least drop your private keys for the lawyer just incase

[demenBTC]

yes, maybe a topic like this has often been talked about, but let's consider it as a reminder to large asset holders who are only known to themselves, someone's death nobody knows and when it will come, it is very important that there is a family who knows the private key we have, the family is the real heir

[Unblock_news]

When it comes to crypto inheritance, we don't need any lawyer. Of course when you're holding a bitcoin, you have someone to know about it. Atleast whatever happens to you. Someone will handle it. Atleast your wife/husband or most trusted friend, or any of your relatives, much better.

[romero121]

People into the cryptocurrency network have never been into the inheritance plans. Always people need to have a perfect plan, so that the wealth can be used by the future generations. For this people can teach the kids about the wallet data, also can have a secure filing system for all wallet information which can be accessed only by the family members. Without proper planning lot of users have lost their cryptocurrency wealth which is not useful for the future generation.

[McVillan]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

You will sooner or later

[cabron]

Its not safe leaving a private key and password of your BTC address to someone or somewhere at home for your kids. I guess you jsut have to educate your kids about crypto and then let them know how unsafe it is to expose even just the QR code to anyone.  When it comes to money even your biological sisters/brothers aren't someone you can't trust.

[coinwizard_]

Find a charity that accepts bitcoin and leave it to them. If you give your loved ones a private key they won't know what to do with it and will simply get scammed anyway

[rick1221]

The Bitcoin has to be inherited because it is an encrypted currency and It works on the encrypted blockchain technology and there are many users of that that want their credentials to be secured. That is why the inheritance is required.



Recover Gmail Password

[jake zyrus]

When it comes to crypto inheritance, we don't need any lawyer. Of course when you're holding a bitcoin, you have someone to know about it. Atleast whatever happens to you. Someone will handle it. Atleast your wife/husband or most trusted friend, or any of your relatives, much better.

Right, my son know my password in my bitcoin wallet I trust him so much he is smart and easily catch up about in cryptocurrency so whatever happens to me someone taking care of my cryptocurrency. Lawyer I don't need it cause I know my son is very responsible and trustworthy .

[deisik]

You might think this topic is useless but I think it is very important to consider because for any wealth in the real world there is a way to pass them when some one die, deceased or for any other reason and to do that effectively there are law firms or lawyers who follow well constructed formal methods but do we have such things for bitcoin because handing over its inheritance though a third party means a risky thing so how can we do it effectively ? and are there any effective methods in the current world ?

I've written about that extensively in the past

Back then there were no smart contracts (and they are still lacking in Bitcoin other than in sidechains like RSK), while with them it could be done pretty easily. The simplest that I can think of right now is just unreservedly transferring funds after some time (say, one year) to a certain wallet (address) belonging to your children, spouse, whatever. This will be an effective method without involving a third party risk, and you, as the owner of the keys, only need to sign a new contract every year until you pass away one day. Then your inheritors receive your coins (at most in a year)

[waitforme]

You might think this topic is useless but I think it is very important to consider because for any wealth in the real world there is a way to pass them when some one die, deceased or for any other reason and to do that effectively there are law firms or lawyers who follow well constructed formal methods but do we have such things for bitcoin because handing over its inheritance though a third party means a risky thing so how can we do it effectively ? and are there any effective methods in the current world ?

You should accept the fact that inheriting Bitcoin after death is not feasible. Most people use Bitcoin storage platforms provided by some companies. Inheritance based on whether or not you can use the previous person's account, especially if many users of private key platforms become more difficult if you cannot know it.

[cizatext]

Well cryptocurrency is a decentralized network that does not deal with third party and since there is total freedom and your security is in your hand such thing as passing on to another person requires you own involvement such as compromising you security keys to another person only that way can you pass it on as an inheritance.

[tenakha]

You can reach conclusion by research, most probably projects were created about it. But IMO we do not need it. This is not a physical thing you legalize with a deed. Little paper is enough to bequeath it to your son or his child. Also Nano Ledger flashcards may be useful as a solution : www.ledger.com

[aoluain]

I have already showed my daughter how to retrieve my wallets in the
case of my early passing.
I know some people wouldnt care what happens to the coins when
they die but it is quite easy to put something in place when you can
trust someone and if you dont well it doesn't matter then what happens
to the coins.

[pixie85]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

Why would you need to trust someone in order to create a legacy plan?

All my stuff is going to my best friend currently, he knows how to access them and knows the access code to my wallet via my iOS app.

Pray that your friend doesn't ever get in trouble or in serious debt like gambling debts with some violent people. He'll choose his own life and well-being over friendship, you'll see. Friendship is nice but given a serious life threatening choice he'll prefer to steal from you than lose a limb or get beaten up.
Don't trust anyone with money!

[Dexion]

I only believe in my wife and child. they must have my assets after I die. and we don't need law. we only give him an account and wallet password. even I always teach BTC to my family. trading, investment or bounty. because it will be their income in the future.

[gudjhonson]

If we teach about blockchain, this makes it easier for us to inherit bitcoin. If we give knowledge about crypto to a child, wife or husband then we will not be confused about leaving. At least they already know the ins and outs of crypto and this can be continued by them well.

[Moiyah]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

Actually, my top priority is to invest more bitcoin. Gain profits, save it and inherit it to my child. I guess, you are single and you are too young to think these things. But life is unpredictable. If you don't have kids to be pass through your  bitcoin, your parents are still there. Lol. But anyway, it's our choice  at the end.

[awawo]

Well since bitcoin is not accepted as a legal tender yet it will be very difficult to have a legal documents that will guide it willing process so the only way for bitcoin to be passed on as an inheritance is for the owner to revealed it secret key to the wallet that contain the bitcoin to the other person, because without that there is no way to pass it on because no other person can access the wallet apart from the original holder.

[romero121]

Inheritance of bitcoin is much concerned as we don't know what happens with the bitcoin network as well with the life of humans. For the same it is good to keep the information shared with very trusted family members or with friends. Some suggest third-party services for this which doesn't work in the right way. Because when one dies, the third party service will acquire the assets rather than providing it to the respective investor.

[cryptpedia]

Any one can inherit your crypto if they have the private keys. Conversely, no one can inherit them if they don't have the private keys. A will wont help in that case.

[leonair]

This kind of Inheritance planning digitally is the future, if someone chooses this kind of option for their wealth then for now it's quite risky in my perspective because there are no strong law regarding about this matter yet so it's much better to do the traditional way not unless it's good to go.

But if you still insist in this kind of thing then better to teach first your heir as they must need to know the basics first before doing such things, I hope there are some digital lawyers soon that will tackle this kinds of things  .

[Choyor]

The same topic is almost always discussed, but everything returns to the trust of Bitcoin users themselves to someone who will inherit Bitcoin. Well, for me personally entrust it to my family and also to my close friends, which of course to those who already know the true world of Bitcoin.

[jakezyrus]

The same topic is almost always discussed, but everything returns to the trust of Bitcoin users themselves to someone who will inherit Bitcoin. Well, for me personally entrust it to my family and also to my close friends, which of course to those who already know the true world of Bitcoin.

friends ? your own family is already enough to entrust your funds because they are important to you and you know thier attitude alot compare to your friends  . if your parents are way to old for learning cryptos then what about your brothers and sisters ? if they didnt recognize crypto at first then why not educate them ? teaching them the basics is not really that hard and wont take much time  . you know mlilenials nowadays are now verry open to gadgets and new technologies  .

[lyks15]

I think there is no legal process in inherit your bitcoin when you die. But I think the real person who ahave rights to inherit and have benefits on your bitcoin is your immediate family member like your spouse if you are married. And your parents if you are single. As long as they know your private keys. So always have a copy of your private keys as a back up in case of emergency.

[mich]

This can be is a sensitive subject matter for some but we must realize we are dealing with money here.
Make sure you trust someone either family member or friend with your private keys or a safety key.
I would imagine there are some people with much coins that would not want them to go to waste because they didnt plan accordingly.

[MonsterV]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

It would be better before dying to make an inheritance containing all bitcoins, in my opinion it is legitimate to make a legacy in the form of crypto.
It's just that what is difficult later is to whom we entrust this inheritance. Whereas now there are still few people who know crypto

[AjithBtc]

With bitcoin Inheritance is a must, because nothing is assured in life. We don't know what happens by the next moment. Even if our savings wasn't useful for us at least someone who we loves or who loved us make use of it. Some users stated they don't have trust on others, we're crypto people we believe it upon trust. So trusting others is also possible with perfect understanding and explanation about cryptocurrency.

[Anonylz]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

I think that is a very shallow thing to say, how is it possible that in all the people you know, there is no one worthy of your trust? you rather prefare to die and let the btc stock in a wallet for eternity than to give it away to those who can benefit from it,

if you can't trust lawyers certainly you can trust your immediate family - mother, brother, sister, wife .children, uncle, aunt, nephew, niece. friends and so on, among this category of people surely there must be someone who you can trust with it, or better yet, write a will and donate to charity, there are thousand of needy people in the world who you can help with it.

And you know death is not by how young or old a person is.

[green547]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

I think that is a very shallow thing to say, how is it possible that in all the people you know, there is no one worthy of your trust? you rather prefare to die and let the btc stock in a wallet for eternity than to give it away to those who can benefit from it,

if you can't trust lawyers certainly you can trust your immediate family - mother, brother, sister, wife .children, uncle, aunt, nephew, niece. friends and so on, among this category of people surely there must be someone who you can trust with it, or better yet, write a will and donate to charity, there are thousand of needy people in the world who you can help with it.

And you know death is not by how young or old a person is.

A lot of people don't have close families, consider yourself lucky if you do.  I'm in the same boat I have watched my own family stab me in the back and they would steal any crypto if they knew I held some.  Its a cold world we live in dawg.

[xvids]

I think I would leave the half to my wife and the other half to my parents.
Since we don't have a kid yet but if ever we have our own child then I would leave more to my wife and son/daughter.
It is always good to have a plan since we don't really know what could happen in the future.

[TimeBits]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

You can leave them to me, It would help me out a bunch

[Script3d]

i'd rather leave money as an inheritance compare to bitcoin, i would probably leave bitcoin my heir knows how to knows how to use it, if not then i would stick to money and make a account then leave the money their and let the compound interest do it's job.

[kentrolla]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

I think that is a very shallow thing to say, how is it possible that in all the people you know, there is no one worthy of your trust? you rather prefare to die and let the btc stock in a wallet for eternity than to give it away to those who can benefit from it,

if you can't trust lawyers certainly you can trust your immediate family - mother, brother, sister, wife .children, uncle, aunt, nephew, niece. friends and so on, among this category of people surely there must be someone who you can trust with it, or better yet, write a will and donate to charity, there are thousand of needy people in the world who you can help with it.

And you know death is not by how young or old a person is.

A lot of people don't have close families, consider yourself lucky if you do.  I'm in the same boat I have watched my own family stab me in the back and they would steal any crypto if they knew I held some.  Its a cold world we live in dawg.

Lot of people keep it secret and not share. These with anyone almost to family members also. But there can be anyone person who should aware of this because anything can happen anytime we can share details to trusted and genuine person in family or friends as well.

[Annalise24]

I read the Whitepaper of a project sometime ago ,the project was talking about providing solution to the issue of transfer of ownership when someone dies .
I think the project name is safe heaven.
Although I do not know if they are still operational.

[Pamadar]

I think I would leave the half to my wife and the other half to my parents.
Since we don't have a kid yet but if ever we have our own child then I would leave more to my wife and son/daughter.
It is always good to have a plan since we don't really know what could happen in the future.

First family is really deserving of what we invest, giving everything to them will make them more secured after we past away, even in the rules of the law we should provide everything for them, but regarding to Bitcoin I will rather cash out my money and leave it to my wife and kids than leave my wallet making my wife confused and possible being hacked.

[shimbark123]

This inheritance thing, this deceased thing of a bitcoin holder has been discussed so many times in this forum. If you have a trusted someone, you should share them your password on different exchange you have your money on. It is the best thing to do rather than leaving those funds worthless.

[jakezyrus]

I read the Whitepaper of a project sometime ago ,the project was talking about providing solution to the issue of transfer of ownership when someone dies .
I think the project name is safe heaven.
Although I do not know if they are still operational.

really ? thats cool  . does it work automatically ? like for example if something bad happen to the other and he might not be able to open his wallet for a long time , then the ownership will automatically transfer to the person that he trust the most ?  we need this kind of idea because so far i have never seen an idea related to this .

[bitcoindusts]

There could always be ways on how you could pass your bitcoin to your beneficiaries but What I was thinking here is in the event of sudden death when you were not expecting it and you’ve not prepared any of what you have in mind. It is not easy to entrust your private infos to someone even in your family specially if it is your private key while you are still very much alive. I was thinking of keeping all in an usb disc and place it together with my valuables in a safe place or in a private vault or in a bank vault. So they will be notified by the bank later about your account there.

[DBronze98]

I currently live with a cat named neep, what happens when I leave my fortune to my cat? I think Crypto should not be moved as an inheritance type because the market is always volatile, there are too many risks. So sell 7/10 of your assets into paper money to make sure that everything will be useful even if the worst happens.

[Shenzou]

Bitcoin is not at a state where it could become an inheritance, i mean you could teach your kids and your family about it so that is one day they could continue your legacy, but if you have a large amount of bitcoin stored than if you die, it dies with you because there is no legal way to record it and transfer it to your family after your death, maybe in the future when bitcoin becomes a mainstream and relevant or implemented into government's financial system we will able to do so, otherwise if there is such as third party service that does that i personally won't trust them.

[Virtual miner]

You might think this topic is useless but I think it is very important to consider because for any wealth in the real world there is a way to pass them when some one die, deceased or for any other reason and to do that effectively there are law firms or lawyers who follow well constructed formal methods but do we have such things for bitcoin because handing over its inheritance though a third party means a risky thing so how can we do it effectively ? and are there any effective methods in the current world ?

Sadly enough there is nothing of that sorts in bitcoin and Cryptocurrency until now. Such legacy contracts which can be inherited upon death. we have seen recently that only person who knew the private key of exchange which held a lot of bitcoin died. The whole pool of that bitcoin is now no more accessible. No lawyers would be helpful in such cases as the private key holder can do anything. It would be really challenging task to think of a solution apart from telling your offsprings your private key.

[Asmonist]

This is really interesting. However, there are lots of consequences and the whole process may affect the holder as of the moment. For now it can be done by individual and hopefully can be kept private with no bad intention from the other party.

[33bitcoin]

I currently live with a cat named neep, what happens when I leave my fortune to my cat? I think Crypto should not be moved as an inheritance type because the market is always volatile, there are too many risks. So sell 7/10 of your assets into paper money to make sure that everything will be useful even if the worst happens.

Thats funny, I often see those crazy news stories about wealthy people leaving all their money to pets.  Part of me respects how much they truly love their animals, but its kind of disturbing that they wouldn't find another human to connect with instead.

[goaldigger]

You might think this topic is useless but I think it is very important to consider because for any wealth in the real world there is a way to pass them when some one die, deceased or for any other reason and to do that effectively there are law firms or lawyers who follow well constructed formal methods but do we have such things for bitcoin because handing over its inheritance though a third party means a risky thing so how can we do it effectively ? and are there any effective methods in the current world ?

Cryptocurrency is not an insurance plan which can be automatically inherited by your beneficiary once you died. In this you should secure your private keys and password safely with a hard copy and give your loved ones an instruction once you died. There is no formal method since cryptocurrency is decentralized. You should always make a way.

[samcrypto]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

You can leave them to me, It would help me out a bunch

He will not trust you for sure, as per his statement above.
Well, you're still young to worry about it, and just live happy for now and one day you will find your destiny and I believe that can change your mind. Its not easy to entrust your money to someone who don't love you at all because if they don't your money will be wasted. I also have a problem like this but I make no rush in this world, let's keep on be positive and something good will happen in the right time.

[qiwoman2]

A rhetorical question, but since you seem to still be confused of what to do (or due to laziness, and albeit the tons of topics already created discussing the similar matter), here are some suggestions:

• Hide the privkey somewhere in plain sight e.g. a picture frame, a clock, whatever. Tell your family how lovely that thing is and leave innuendos that will make them curious about it.

• Safety deposit box on banks work wonders, too. Just arrange your heirloom to be distributed to your family in the event of you dying.

• Teach them how to use bitcoin and they can perhaps, in the future, access yours if you give them your privkeys.

There are tons actually but these are the easiest and safest I can come up with on an afternoon lunch in a lazy Wednesday.

I really liked reading some of the quirky ideas you have here and it's a subject that most of us overlook. Not that I have hardly anything in BTC right now, but when or if I do accumulate, I certainly have it in my mind to leave some list of PriVKeyS, Plus whatever other crypto wallets have anything inside them and a bank deposit box is one of the most solid places to leave all this very important info in or even with  your family lawyer. You could also store it under the floorboards or in a safe at your office or in the home in a very good location where one very trusting member of the family, knows the location and is also written in your will.

[angel55]

Best option is to have one of those deadman switches.  You have to confirm it every month or so and if you miss it one time all the sensitive info will be sent out to your desired party.

[ahiaba.john@yahoo.com]

What would be my benefit without my family be part of my business! Others may have some in contrary but my family know everything about me most especially my wife. So my wealth would not lost even if am no more. My wife would continue from where I stop.

[sempak]

I myself have prepared this for my family regarding my digital assets. they must know what I have and also understand. therefore try from the people closest to us to know about bitcoin or the basis of cryptocurrency to guard things like this happening they can hold the mandate from us regarding these assets

[Slow death]

You might think this topic is useless but I think it is very important to consider because for any wealth in the real world there is a way to pass them when some one die, deceased or for any other reason and to do that effectively there are law firms or lawyers who follow well constructed formal methods but do we have such things for bitcoin because handing over its inheritance though a third party means a risky thing so how can we do it effectively ? and are there any effective methods in the current world ?

we need governments to legalize bitcoin because of this, the exchanges should have a responsibility as banks have, the portfolios should have a responsibility that the banks have. That is, if someone dies and before that person dies said that he has 10 bitcoins in exchange Z, then his relatives will take the document that proves that he died and will deliver in the exchange, and the exchange delivered the bitcoins to the relatives of the deceased

[carlisle1]

I don’t trust anybody so sadly if I die my bitcoin’s go too. I’m only in my late 20’s though & have nobody to leave my coins to.

You can hand over to me mate since you have anyone to leave for 😂😂😂

Don't you have family?parents,brother sisters or others in bloodlines?because it seems that it’s impossible sorry just asking

For OP well i have my mother and wife to handle my accounts,but ofcourse its my wife that knows the majority of my assets in crypto

[coinnumber]

Planning on inheritance of your digital assets is a very vital issue to look into, it will be a taboo having millions of dollars on your Bitcoin wallet and your family lacks of funds to avoid this we must learn to carry some persons along by teaching them and giving the technical idea so it wouldn't look strange in case of necessity. You might not show them all your private keys but make they can access it when you are no more alive...

[fuathan]

You might think this topic is useless but I think it is very important to consider because for any wealth in the real world there is a way to pass them when some one die, deceased or for any other reason and to do that effectively there are law firms or lawyers who follow well constructed formal methods but do we have such things for bitcoin because handing over its inheritance though a third party means a risky thing so how can we do it effectively ? and are there any effective methods in the current world ?

That is a very good idea. Not sure if any insurance or law company is implementing it. Giving your private keys to any entity might be scary. However, if this is done by a reputed company regulated by a government it might feel secure.   

[seedcret-ce]

Sharing the strategy I’m using to protect my own hardware wallet backups.

Simply described process is as follows:

Step #1: Keep Your Recovery Seed 100% Offline – ALWAYS
Step #2: Enable Passphrase On Your Hardware Wallet
Step #3: Backup First Passphrase Part Offline
Step #4: Schedule Recovery Email Containing Second Passphrase Part

More details here:

https://seedcret.com/kb/how-protect-hardware-wallet/

The benefits are:

BENEFIT 1 (for myself) – peace of mind: Even if I would forget my passphrase, I know where to look, to refresh my memory

BENEFIT 2 (for others) – inheritance plan: In advance, I can let my family know where both physical backups are (the recovery seed and the first part of the passphrase) and also that they would receive the recovery email containing the second passphrase part in case of an accident/death

Of course, I can give the second passphrase part to my family right away but I don’t want to do it because:

    The more people know it, the higher the risk is, that it will be compromised (even if by an accident)
    I want to make sure that my family will access my assets once I am not here but not before (when I am still here:))

BENEFIT 3: No need for lawyers or any third party that you have to trust

BENEFIT 4: Passphrase backups separated offline and online – a criminal visiting your flat won’t be able to find the whole passphrase in one place



I’ll be happy for any comments.

[n0ne]

If there exist some decentralized service through the blockchain for the Inheritance of the funds will surely attract more user communities in a short. Every user will be having some plans to keep the wallet balance secure, so that someone will make use of it if death happens or we're unable to use it.