Did you share your key to your family?

[joker_josue]

If we can't trust anyone from my family then we can't survive to be honest. It's not all about cryptocurrency, even in real life you have to trust your family members even not all, at least your nearest. However, none of my family members are familiar with cryptocurrency.

No more! We have to have someone to trust.

Of course, unforeseen events can happen, so everyone has to decide what level of risk they are willing to take based on the trust of a friend/family member.

[decodx]

If you keep large sums of cryptocurrency in an offline digital wallet, keeping keys safely secure is essential. I recommend using a hardware wallet, such as the Ledger or Trezor, to prevent access to your funds if your computer is ever compromised or hacked. Keeping them safe and secure will reduce the risk of losing your coins to a cyber thief. But, if you want to protect your funds from loss in case of your sudden illness or worse, it is best to write down the access password for your hardware device and save it in the safety deposit box so that your family members have access to it in such a case.

Did you talk to your family about cryptocurrency? Did they agree to take care of your money and assets in case of your death?

If you don’t talk to your family about cryptocurrency, it is unlikely they will understand what it is. If you don’t talk about it and instead decide to keep it secret, it is quite likely that nobody will know that you have it, much less make sure that it is protected from loss.

[Taskford]

We can't escape death and we don't know when we die... Crypto wallets aren't like traditional investments. They can be more vulnerable to security issues, and you generally can't name a beneficiary. Since we need to store our crypto to offline wallet or hardware wallet and we must store safely and secure our keys offline, did you already share your key to your family? Do you have any tips to make a good plan to your crypto assets for loved ones just in case when you die?

Not to all but for my elder sibling since even if that is your brothers and sisters still you cannot assure that your balances is safe while you are alive better give it to the most responsible person on your inner circle so that you can trust that your funds will be distributed well when you die. Just write a note about how they distribute the funds equally so that there will be no question or quarrel happen when distributing it to your heirs.

[Chikito]

3 part of private keys, and gave them to different people.
They don't know each other

looks not good, if one of them is careless, left in part can be trash. Listen,  if you ever hear about Shamir's Secret Sharing [1] where the seed split up into X (3 part) pieces, that even better than splitting the private key.

[1]. https://github.com/satoshilabs/slips/blob/master/slip-0039.md

I would never share my keys with my family. First of all, these keys are mine, and I would like to keep them personal for as long as possible. Second, no one in my family understand what crypto is, how to use it and so on. Sharing keys to them will be dangerous. Same as leaving private key on a bus stop.

If crypto do you mean bitcoin, you make the bitcoin community happy, you indirectly burn bitcoin and decrease the supply, thanks. [2].

[2]. https://www.nytimes.com/2021/01/12/technology/bitcoin-passwords-wallets-fortunes.html

[Despairo]

I'm not directly share my key to my family, but I only give partial key and teach them how to retrieve my funds without giving my real key. You shouldn't only have one way to retrieve your funds, instead give few way for alternative:
1. Encrypt each words of seed pharse and split each words in multiples locations.
2. Using shamir secret sharing and split for 2-3 persons.

You also can create time lock transactions, perhaps an average human only live 100 years, so you can create a transactions to your son's address on specific times.

[joker_josue]

You also can create time lock transactions, perhaps an average human only live 100 years, so you can create a transactions to your son's address on specific times.

But time and the unforeseen can happen to everyone. What guarantee do you have that 20 years from now, your child will be alive?
It's hard to say this, but unfortunately it's true. We don't know the future, and that's why creating mechanisms to think it's going to be a certain way, can change from one day to the next.

[Munien]

I trust and love my family so everything I own my family knows

[Charles-Tim]

did you already share your key to your family?

If you share your seed phrase or key(s) with your family, that means everyone you share it with can compromise the wallet without you knowing, this is not advisable at all.

Do you have any tips to make a good plan to your crypto assets for loved ones just in case when you die?

The most important thing is to let your family to be conversant with what bitcoin and bitcoin wallet is. Then you can setup a multisig wallet in a way you alone will have enough keys to access the coins and making each of your hire to have one key each in a way one key from you combined with there own would be able to recover the coins. Or you can go for Shamir secret sharing encryption. To let your children know where to get the single key or secret share after your death should not be a problem.

[Little Mouse]

At the bolded, is your passphrase enough to have access to your bitcoin? I think not except if your family already have access to the recovery seed.

I have misused the word lol. It should be seed key. I mean my 12 words key which I have written into my metal box. I just used the wrong word actually. They only need to know how to recover the fund from the key. I have a simple guideline written too though I always try to involve my wife with all these things.

[Rockstarguy]

You may decide to let your family members to know your seed phrase this will only depend on how much you trust them, you may also not let them know your seed phrase now you are alive. We all come from different family family which things can't be done in the same way, you just have to do things you think it will be the best for you. What matters most for anybody is to try by all means for family to get access to seed phrase if death comes.

[Xinarae*]

A lot of answers get already hope the number of members share suggestions,  my opinions are you can share and print your private key with your family member that first reason accidental case so help you on your family member, if you not available access on the time and or by chance need money emergency but you can not be access available so help you emergency situation your family member.

[ShowOff]

My family isn't interested in Bitcoin, only I am. I am sure they will gladly convert in into fiat one day when I am gone.

Same thing with me. None of my family is interested in bitcoin and they don't even know how to cash it. I have to teach them little by little about what a private key is, how to open a wallet, how to send bitcoin to exchange and how to sell them to fiat where everything I do with tutorials without telling how much I have.

They'll find the private key somewhere but of course they don't have a copy of it. Now that they know everything then I think I have inherited enough knowledge. But unfortunately I didn't manage to get them to get directly involved in the forum to know more about bitcoin because of the real job.

[FlamingFingers]

Death is definetely inevitable, i have heard a story of a man who had close to 30 bitcoin in his wallet and the family does not know how to sell it out, as for me my little brother knows where i do keep my paper wallet, i think its a better idea if someone knows such a personal info, you just have to  know who you will share it with

[darkangel11]

I don't think about death and I don't try to make my coins safe in case I'm dead. You might wonder why and the reason is I'm young and healthy. I feel like I'll have enough time to deal with these things once I'm diagnosed with a fatal illness. What if I die in an accident? I guess then my coins will be gone - shit happens. I'm not going to write my last will just because there's that 0.1% chance that some drunk driver will kill me. If we all were worried about this the insurance agents would be even richer than they already are.

[nurilham]

Yes, I did, considering that crypto wallets can only be accessed by the owner of the private key that is ourselves, but we also have to think about the bad possibilities that will happen to us in the future, especially when it comes to family assets. so for me, it is important to give the private key to the heir of the property or a trusted person to anticipate if suddenly something bad happens and I have thought about it carefully. After all, if we keep it a secret from the heirs of the assets or trusted people, in the sense that only we ourselves know the private key, then if something happens to us, the assets that we have will only be in vain and cannot be accessed by others.

[Rengga Jati]

... did you already share your key to your family? Do you have any tips to make a good plan to your crypto assets for loved ones just in case when you die?

Yes, I did, I share it with my beloved couple who has accompanied me for several years because also understand this crypto world, working together for the sake of our children's lives and also future. We can share with each other about what we are doing so far, managing it together.
As long as we understand who they are and we trust them so much, why not? But I will suggest to you that you must decide who is exactly the right person. I will not share it with the person who is outside of my intimate family, moreover with friends. Just be wise and careful, you yourslef who know which one deserves for it.

[Hypnosis00]

We can't escape death and we don't know when we die... Crypto wallets aren't like traditional investments. They can be more vulnerable to security issues, and you generally can't name a beneficiary. Since we need to store our crypto to offline wallet or hardware wallet and we must store safely and secure our keys offline, did you already share your key to your family? Do you have any tips to make a good plan to your crypto assets for loved ones just in case when you die?

Getting involved with your family is very important and I think it was their right to know everything we do like knowing access to our crypto wallets. This will not affect and breach the security of our wallet unless they will touch it unknowingly without our permission. Giving them time to know about crypto and to know how to take care of this helps them to understand why.

We don't need to hide from them and they need to know how this crypto works, and they can do the job if ever there is bad to happen with us. Well, working together is a great success.

[Pmalek]

1. Encrypt each words of seed pharse and split each words in multiples locations.

That's too dangerous. Especially if we are talking about only one copy per split. Losing one of the parts is equal to losing all of them. Bruteforcing 8-9 words is still considered close to impossible with today's hardware. Some of the most popular Bitcoin advocates like Andreas Antonopoulos have said many times that people should not create their own security models. It's better to use working systems instead of overdoing it.

...perhaps an average human only live 100 years, so you can create a transactions to your son's address on specific times.

Compared to the above-average humans who live 120-130 years? I don't think so.

If you share your seed phrase or key(s) with your family, that means everyone you share it with can compromise the wallet without you knowing, this is not advisable at all.

They don't need to have the necessary keys on hand, but they should know how to get them if something happens to you. It's your family, if you don't trust them, who do you trust, and why would a person have one if that's the case? Your family can hurt you with or without Bitcoin. If you think that way, you are in danger of being stabbed, poisoned, robbed and strangled all the time.

[Rikafip]

It's your family, if you don't trust them, who do you trust, and why would a person have one if that's the case? Your family can hurt you with or without Bitcoin.

I think that it's important to differentiate trusted persons and family members as those two things are not necessarily the same. While you can chose your wife, you can't chose the family you are born into and unfortunately some people are born into shitty ones where you can't trust anyone with your money.

If you think that way, you are in danger of being stabbed, poisoned, robbed and strangled all the time.

While certain level of caution is always good, people here are often too paranoid and not even willing to let their wives know about Bitcoin/seed phrases etc. If I couldn't trust my wife with something like that, I would seriously think about my own judgement and who I married.

With that being said, I shared my keys with two trusted family members that live separately, which is also something to think about as you don't wanna keep all your keys in the same place as bad stuff like fire can always happen.

[CryptoHeadlineNews]

This has made many well to do families who were living very ok in the city pack to the village after the death of a sole benefactor.

So it is actually a good question that needs urgent answer that should be a headline on our major crypto news papers or website.

It is one big mistake many people have made and some are still yet to make in the future, all because of ignorance, and that's why I thank God for forums like "bitcointalk dot org" where we are giving the opportunity to discuss issues like this which is affecting we the crypto lovers both online and the physical..

So it is idea to share your passphrase with a trusted family members, but not the amount in it (Be wise) because some of them can kill you just because of your own money.

So in whatever thing we are doing, we just have to put common sense. Thanks