A good man/woman leaves an inheritance

[electronicash]

we all have prized possession that we want to hand over to someone dear to us. the rightful person that should benefit from what we have worked all our lives. i have a kid too that i wanted to give my coins to i just hope he understands well how to preserve it and make use of it.

i hope there is one project that will provide passive income and that he can only withdraw the earnings and not the whole investment. this way he will continue to receive and not lose anything.

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[blckhawk]

That depends, there are people who are poor but they can't leave inheritance, are they not good people? Because you've got it all wrong, some people always forget the fact that not everyone is as privileged like us to the point that they have to worry about inheritance.

[TheUltraElite]

That depends, there are people who are poor but they can't leave inheritance, are they not good people? Because you've got it all wrong, some people always forget the fact that not everyone is as privileged like us to the point that they have to worry about inheritance.

I dont think that is what the OP meant. People who are poor will not be likely to invest in bitcoin. After all, you need a working electricity supply, a working internet and a working smartphone to be able to buy/sell bitcoin and in major cases, poorer population do not have the luxury of this sort.

They are more likely to pass on their children with what fiat they already own. I think there is no problem in that. In future if they are able to get a better living condition they may be able to buy their bitcoin. But defenitely not something that one should do as a risky move, because they are already poor.

i hope there is one project that will provide passive income and that he can only withdraw the earnings and not the whole investment. this way he will continue to receive and not lose anything.

That is a fixed deposit. I would keep that into the fiat category and till date, I dont think there are much of such worthy passive income methods like that. One good investment that could run such numbers was a casino bankroll investment, but few casinos do that anymore.

[davis196]

An old proverb says “A good man/woman leaves an inheritance to his children's children…”. Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will. In most cases, the beneficiaries include may their spouse(s)/civil partner, child or children and grandchildren. In other cases, their brothers and sisters, parents or parent, nephews and nieces, favorite charity organization and state (where there is no relative) get to be the beneficiaries.

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

OP,this topic has been discussed a million times.I don't see a clear question in your post.What exactly are you trying to ask?If you are asking about whether or not I will leave my BTC as inheritance to my children,then my answer is no.I don't have children and I'm not planning to have children.I'm not that rich so I won't leave a big inheritance.I guess that I won't leave any inheritance at all.
Everyone is free to decide whether or not to leave it's Bitcoins to his/her children or grandchildren.
Bitcoin should be treated as any other financial asset/form of wealth,so I don't see a legislative problem here.There's shouldn't be any obstacle for giving BTC/private keys to the successors.

[B-Bit]

Before death, everyone will tell their own money to their children, or when the children are sensible, they will give some important things to the children to save.
Your own money and private key can tell people you trust. We cannot predict which of tomorrow or death will happen first. We can only prepare. Arrange your own affairs before death.

[indo1]

Such a thing should probably be a management body for the management of cryptocurrency asset inheritance. Because right now we can't trust each other.  Cryptocurrencies need to grow even longer to make it all. Wallet access is also a sensitive thing we have to keep it private. What happens if it leaks even to our own families?

[Shasha80]

Before death, everyone will tell their own money to their children, or when the children are sensible, they will give some important things to the children to save.
Your own money and private key can tell people you trust. We cannot predict which of tomorrow or death will happen first. We can only prepare. Arrange your own affairs before death.

Since I already have children, it is certain that all the Bitcoins I own will be passed on to my children. Therefore all the money and all the assets that
I have, including the Bitcoin that I own will be inherited. Before I died, so from now on I have told people I trust where I keep my private keys.
As you said, we never know when we will die, so I have prepared everything from now on.

[Desmong]

It's would be very difficult to will a wallet seeds generation since it's not like a physical things one could torch and use. Bitcoin is an asset and not just an asset, it's a digital current which is likely abstract making it more difficult to will out to next generation. Moreover no one knows when he or she is gonna die which can be impromptu without any preparation or awareness and the wallet seeds becoming useless because no one might have access to it since people do not disclose their wallet seeds to family not even children.

[Kittygalore]

Not every good woman/man has the privilege to leave inheritance, not everyone can afford a lawyer to officiate or create the inheritance. Some are living in a livable wage that unironically only lasts for about half a month.

[Mpamaegbu]

An old proverb says “A good man/woman leaves an inheritance to his children's children…”.

Kindly strike that out in your next argument or write-up. That a parent doesn't leave an inheritance for their children doesn't in any way mean that they're bad. We can only give what we have. Those who die paupers won't have any material thing to give than their personality any integrity. That's if they were forthright before their demise.

Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will.

How come people don't like doing that for a man who dies leaving a pile of debts to be cleared? Those who gather to share inheritance should also learn how to gather to offset debts too. Regrettably though, people are after what they stand to gain even at the detriment of someone. The deceased may not be in talking terms with those acclaimed relatives of theirs while alive. But once they die these relatives suddenly come around to lay hold on deceased's property. Little wonder they say that failure is a bastard. No one wants to associate with paying off debts but they all want the inheritance.

And to your last paragraph, yes I won't hesitate to keep my seed phrase as my inheritance.

[yazher]

I think as long as you put some understandable instructions and the people you gonna give your crypto assets are computer literate, there is no need to worry about it. nowadays there are lots of instructions you can add to your last testament to further give them easy access to your crypto assets.

Maybe if you can give them instruction right now, or some kind of basic understanding about crypto, you won't have any doubt that they will gonna get it after you passed away.

[isaac_clarke22]

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This. Even though most of the stuffs now are all in technology, it's still likely to have an issues on how those who will inherit your funds use it or at least even move it around wallet to wallet.
Unless that custodial wallet is used, which is unsecured, people having to interact with your fund would still need to learn about how technological terms like "private key", "wallet seeds" and stuffs mean what they're for.

[qwertyup23]

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

Definitely! The problem with leaving cryptocurrencies behind is that it requires some sort of password in order to access the cryptocurrencies that you have. In the event that a person suddenly dies, all of those cryptocurrencies would be stuck in those wallets forever without any hope of recovering them (unless you know the password).

While we are in this topic, I wonder how many wallets right now are locked with hundreds to thousands of cryptocurrencies inside as their owners have died or left them behind? I do hope that there is some hope of recovering those said wallets given the technological advancement in our day and age.

[Sanugarid]

An old proverb says “A good man/woman leaves an inheritance to his children's children…”. Since the inception of the world, whenever a person dies, their personal assets like money, possessions and property are either shared as stated in a will or in accordance with the law of succession where the deceased leaves no will. In most cases, the beneficiaries include may their spouse(s)/civil partner, child or children and grandchildren. In other cases, their brothers and sisters, parents or parent, nephews and nieces, favorite charity organization and state (where there is no relative) get to be the beneficiaries.

I recon that in the coming years folks are going to will their wallet seed and passphrases to their family members, their favorite charity, and even their kids unborn. As an investor or crypto trader is this a legacy you would want to leave behind?

Knowledge and wisdom is the best thing you could leave behind to your children once we're no longer alive but of course, if you have any asset either tangible or intangible it would be great if someone related to us would benefit from it. Maybe some people consider this type of inheritance but not all people want this and still prefer properties over crypto assets.

[chanler]

basically giving inheritance is important and must be given to people who can really be trusted. especially if we talk about bitcoin where if an inheritance in the form of bitcoin is given to someone it will be very influential. if you can manage it well then of course it will be profitable, but what is fear is if it can't be managed properly and eventually it will be lost with a loss. even though we know that the development of bitcoin in the future will be even better. so stay careful even with the closest people though.

[uttoransen]

If someone already has a family and he wants to donate them their crypto assets, it is best to do so while he lives. My family already knows the codes, whether it is the wallet codes or the ATM pins - no point hiding important details from your wife and kids, right?

I can understand that the case might be different from person to person - but still I would much rather disclose the details upfront rather than write a list of instructions for a lawyer to read out while am off!

[GeorgeJohn]

That is not a big deal, because you can inherite any forms of human properties if the privilege is been giving to you before departure, so bitcoin is an inheritance as investment or as legal tender also, and it's obvious that you will inherite what you know it's functions, because in terms of bitcoin, before you inherite it you most be acquainted with it's policy and also have the phrase code of the users wallet before you can as well accessed it, i can say bitcoin is good investment and best inheritance if you are left behind for your lovely onces.

[Viscore]

If someone already has a family and he wants to donate them their crypto assets, it is best to do so while he lives. My family already knows the codes, whether it is the wallet codes or the ATM pins - no point hiding important details from your wife and kids, right?

I can understand that the case might be different from person to person - but still I would much rather disclose the details upfront rather than write a list of instructions for a lawyer to read out while am off!

We all have different choices to take. And i agree with what you chose. If you have your family that can be trusted about securing your private keys, then why not? You don't have to keep it alone. Its better if you can secure it and be able to let them know about the whole thing of crypto so they can also prepare for it and might continue with what you're doing while you are already off.

The main thing here is how you will be able to reach them about their inheritance and its good to know that they are much aware on that while you are still here living in the crypto world.

[dupee419]

we all have prized possession that we want to hand over to someone dear to us. the rightful person that should benefit from what we have worked all our lives. i have a kid too that i wanted to give my coins to i just hope he understands well how to preserve it and make use of it.

i hope there is one project that will provide passive income and that he can only withdraw the earnings and not the whole investment. this way he will continue to receive and not lose anything.

It would be nice if that prized possession is handed over someone who has actual knowledge, I guess it would be better to let them inherit your prized possession in the perfect time, while we may not know how long we'll still be here but giving our future (children) the right amount of knowledge about cryptocurrency and Bitcoin in general is enough for these kids to actually start investing, just imagine how they'll be making good use of the prized possession you just gave.

[Rengga Jati]

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I relation to inheritance, yeah, my area is also one of those who always leave something to children, leave an inheritance for their children to prepare before death. However actually, inheritance is not only about money, wealth, or property, but many things, including knowledge.
And about inheritance in the crypto world, Some exchanges may have inheritance features and we can utilize this.
Actually, I am only sharing that personal data, like phrases, private keys, and other personal data with my couple. I believe that we can utilize what we have right now, for our children (and more children later  )
I know that many people will say never to tell private keys and other personal data to others. But, I have a couple who have been in my life, with my children and also have known about the crypto world, so we manage it together.
And of course, we can have certain ways in order to prepare if we die someday, preparing and leaving them for our children.