Leaving Bitcoin as inheritance

[velhoti]

If I die, my family can use my death certificate to rescue all my money from bank and appropriate all my posses.

But not bitcoin, I was thinking about how to leave bitcoins as inheritence in a safe way, minimizing risks of be stolen by my own family (still if I trust my family, they can store improperly the keys and be stolen, or forced to deliver).

The perfect solution, in my opinion, is a mechanism whithout intervention that reveal my keys to my family, this could be done if I do not access some service for a month, or if I don't store some stuff in the blockchain for a month or ... I don't know a solution. And only my family could access my keys, possibly they have keys that allow then to access my keys.

An good solution could be some artifact, like a file, that I can send to my family, or left it stored online and thar artifact could reveal my keys only to my family.

My basic ideia is:
1 - Encript the keys with your password, but must be a very strong password, resilient to brute force atack.
2 - Print the encripted keys in paper or some more durable medium and store securely in your home.
3 - Reveal to your family a limited set of characters with wich they can sucefuly find the password using brute force, in a short time.
4 - If you die, your family must get into your home/safe box, get the encripted keys and use the characters to perform a brute force atack in order to get the keys.

Does anyone have think about leaving bitcoin as inheritance? Is there already some solution to this? Thoughts?

Remind, Covid-19 is over here.

[1714860080]

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[pooya87]

3 - Reveal to your family a limited set of characters with wich they can sucefuly find the password using brute force, in a short time.

that doesn't add any kind of security, either reveal the whole password or none of it. partial password is only adding more problems than solving anything.

inheritance should not be through keys in my opinion, instead it should be through transactions. something like this idea: https://bitcointalk.org/index.php?topic=5180850.0
that way you remain in full control of your own funds and the transaction can only be mined (and the funds claimed) if you pass away and can't renew the tx and receiving key.

[salamat700]

I love the idea of a mechanism making sure that there should be proper and proven way of delivering Bitcoin as an inheritance in case something will happen bad to its original owner. I understand that there are some platforms offering such services though I am not sure if they are really safe and will deliver according to their promises. This is actually interesting.

[Haunebu]

This has been discussed multiple times in the past op. Check these threads out.

https://bitcointalk.org/index.php?topic=5097720.0
https://bitcointalk.org/index.php?topic=5194028.0
https://bitcointalk.org/index.php?topic=5106560.0

Its fairly simple really. Just store your crypto in a hardware or paper wallet(Powerful encryption) and share the complete password with people who you fully trust.

[CarnagexD]

If you want to give a bitcoin as an inheritance to your family it is better if you do not make too much security progress to your account because some of them does not know what you are doing at the same time they did not know all the things you are stating on the account and they need to ask other people to do this instead. I'm suggesting it is better if you withdraw those funds immediately so they can use but if you don't want and just stay into the bitcoin it is better if you give already the wallet username and password to your wallet so they can immediately use your bitcoin funds. If you still have some time it is better to teach them immediately because they have some insights on how does the transaction of the bitcoin works it depends on your if you will before you die or let them explore the transactions before they'll get your funds.

[bitbunnny]

Many has such idea to leave their Bitcoin as an inheritance. In that case you have to have in mind that Bitcoin is volatile and so the value you leave to someone will not be fixed. With time it can become bigger or smaller.
And I think that the best way to do that is to attach the private keys to will, thus they will also be legaly secured and protected from possible abuse in case that you give them directly to person who will inherite your coins.

[Krislaw]

Leaving Bitcoin as inheritance process is more harder than leaving physical properties or fiat as inheritance. Many method has been suggested under this thread and I'll suggest the private keys should be printed and included in will. Or get an hardware wallet, keep it in a secret place like a small vault including the details, then include the hints in your will.

[M-BTC]

Casa has set up a special Bitcoin inheritance plan. You could check it out and learn from what they've already thought of: https://keys.casa/bitcoin-inheritance-plan/

[velhoti]

A lawyer is expensive and I don't have one in wich I trust, bitcoin is diferent of others properties that are attached to my ID number, the government will know about my bitcoins and collect a abusive and unfair tax of inheritance, in my opinion. It is not mandatory use a lawyer and a will to die, if you simple die yours properties will be given to your family. Do not sounds good to go in the direction of lawyers.

[YOSHIE]

Does anyone have think about leaving bitcoin as inheritance? Is there already some solution to this? Thoughts?

That crossed and lightest in my mind for the inheritance of children and families is not Bitcoin: that is, shops, land, gold and houses are all obtained from the results of investment or trading on Bitcoin.

I am thinking of getting as much profit as possible from Bitcoin, so that I can leave it to my family, not bitcoin but the results of bitcoin.

Why, it would be difficult for your own family to receive inheritance, by providing a password / key and then entering into a bitcoin wallet, my advice, leave a legacy for families that is easy to accept and reach. Don't complicate things while there are easy ones.

[fiulpro]

Keeping a paper wallet is a hard task , but I do think at the end of the day you would have to use a centralized body to keep it into a safe location. Because sooner or later it would be problematic to keep it safe by yourself.
Even banks have an entitled locker assigned if you want to keep some documents or something precious there , I do think you can hire a lawyer and give him instructions , the family can directly be contacted by the lawyer and given instructions .
Your idea is good too but I do think to be safe , if I had enough Bitcoins to pass it as inheritance , I would like to use a centralized body . Ironic .

[Reid]

2 - Print the encripted keys in paper or some more durable medium and store securely in your home.

Remind, Covid-19 is over here.

My pick.
Kind of old school but it will work.
Remember before, wills are being processed by lawyer and there are times titles are being given.
It would be something like that.
You will just need to enhance it a bit.

How?
Of course the private key is there. if you have the seeds then input it too with your handwriting. (Somehow they might also remember you that way)
Put instructions on how they will deal with it.
Do not leave a blank step that would give them a hard time. (it should not look like a treasure hunting)
You are already dead at that time, don't let them curse you until their last breath too.
Safest method as for me. Still, you do have a lot of choice.
Like flash drive, paper wallet and so on.

[o_e_l_e_o]

Just print the private keys and attached it in your will, if you intend distributing to different family members then you state it clear in the will with each family members get a percentage of the bitcoin you own before you deceased.

A will may potentially be read by several people at your chosen law firm, and even more if it is contested for any reasons, needs to go to court, etc. I wouldn't store a private key in plaintext in a will. Better to give an encrypted private key or seed to a trusted family member or two, and put the decryption key in your will.

Casa has set up a special Bitcoin inheritance plan.

This requires you to use (and pay for) a third party company. This involves a large amount of trust, and could also leave you or your family unable to access your coins if they go out of business. Casa use a 2-of-3 multi-sig, where you have one key on your mobile phone, one key stored offline, and one key stored with them. However, your mobile phone key is backed up online (encrypted) and they hold the decryption key, meaning they effectively have access to 2 of your 3 keys, meaning they are in full control of your funds. It's not a solution I would recommend.

[XenoFever]

Great idea, we should have an idea about these things on how are we going to transfer all of our cryptocurrency to our family when we die but for me to lessen the stress of thinking that, if you really love your family you will let them know how to access your account. What is family if you keep a secret to them? Your family is your family, your wife your son, and your daughter, they are the ones why you are working why you are making cryptocurrency.

[Gyfts]

Do you not trust your family with at least giving them the location of the private key to obtain if they need it? Giving them a partial pass word and asking them to brute force it is the most inefficient way to leave a Bitcoin inheritance. You could leave your things in the hands of a trusted 3rd party and ask that 3rd party to give your possessions to your family when you die. This way, you could write down the password and hand it off safely to your family.

[cabron]

I would rather have it in my text file in a flash drive andput it in my pile of things, I'm sure no one will touchmy things except my kids since they are the only around in the house. Entrust it to you wife if you trust her. When its given to the wife its usually spent for the kids unless she's taht irresponsible. Don't make it hard and dont trust a 3rd party.

[thesmallgod]

Casa has set up a special Bitcoin inheritance plan. You could check it out and learn from what they've already thought of: https://keys.casa/bitcoin-inheritance-plan/

Of all the means that people have suggested, I do not think putting your inheritance in the hands of some people that run a platform is quiet sensible. What if people disappear one day? what will you do ?. It is better you get and hardware wallet and write the password as part of your will is consider as the best option

[BlackFor3st]

If I die, my family can use my death certificate to rescue all my money from bank and appropriate all my posses.

But not bitcoin, I was thinking about how to leave bitcoins as inheritence in a safe way, minimizing risks of be stolen by my own family (still if I trust my family, they can store improperly the keys and be stolen, or forced to deliver).

The perfect solution, in my opinion, is a mechanism whithout intervention that reveal my keys to my family, this could be done if I do not access some service for a month, or if I don't store some stuff in the blockchain for a month or ... I don't know a solution. And only my family could access my keys, possibly they have keys that allow then to access my keys.

An good solution could be some artifact, like a file, that I can send to my family, or left it stored online and thar artifact could reveal my keys only to my family.

My basic ideia is:
1 - Encript the keys with your password, but must be a very strong password, resilient to brute force atack.
2 - Print the encripted keys in paper or some more durable medium and store securely in your home.
3 - Reveal to your family a limited set of characters with wich they can sucefuly find the password using brute force, in a short time.
4 - If you die, your family must get into your home/safe box, get the encripted keys and use the characters to perform a brute force atack in order to get the keys.

Does anyone have think about leaving bitcoin as inheritance? Is there already some solution to this? Thoughts?

Remind, Covid-19 is over here.

The idea is great but the easiest way to do it is via flash drive or usb, save your private keys in notepad then you will also create an instruction in notepad on how they can access wallet then convert and withdraw it. You can just leave the usb in the vault or anywhere as long as the member of your family can easily find it once you will die.

There are many bitcoins also that were not being use because in this type of scenario especially if the owner of that bitcoin was unable to think about the inheritance and he died in either accident or a sudden death.

[davis196]

You are overthinking too much
If you have kids,just tell them what Bitcoin is and that you plan to leave some BTC to them after you die.
Find some notary and give him your last will/testament/legacy written in paper.Your last will might include the passwords of your BTC wallet.After you die,the notary is obligated to read your last will to your kids and family and execute your last will by giving your password to your kids.Unfortunately,there's a middle man that has to execute the inheritance procedure,but that's what a notary should do.
Personally I don't plan to leave Bitcoin or any other cryptocurrency to my kids.What if Bitcoin becomes really cheap after I die.My kids will inherit a really small amount of money.

[acroman08]

if you're worried about it being stolen how about letting you most trusted lawyer hold the encrypted key that is designated to each of your beneficiaries with the password attached/sealed to it and stored on a bank locker and will only be retrieved and distributed to your beneficiaries once you died?