Bitcoin Inheritance Planning

[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.