What Happens to Our Bitcoin and Other Assets If We Die?

[Sarah Azhari]

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

I think the seed needs to be split to the lawyer and the people you are going to give the funds in case of drying , with this I'm sure there is no one that can take the funds unless they will agreed to each others claim.

That good idea, but the lawyer needs to learn more about the split and how it works, because in some cases many people don't know how to recover (as i know split seed is still new), so when the heir dies, some lost shares and part of seeds, that make lost bitcoin forever. Or maybe better to use multisignature than Split?

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[EarnOnVictor]

It's very simple. You have to make a will with a lawyer.

If a lawyer violates the code of ethics, he is to be the first one can access your Million BTC for himself. you must be thinking to do not just giving up the seed to the lawyer. He is a human who has a mind and feels if gets stuck needs the money asap and doesn't know how to get it, your seed is very easy to access and immensely helps him.

I think the seed needs to be split to the lawyer and the people you are going to give the funds in case of drying , with this I'm sure there is no one that can take the funds unless they will agreed to each others claim.

giving it completely to the lawyer will surely take the business effect as greediness may take place .

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

It is good to let people know about your crypto assets but split the access into three. Your lawyer may have a document containing your seed phrase and your wife/children or a trusted ally might know the password. While the wallet name might be documented personally where you keep your files.

[jinmioluwaseyi]

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

[bitterguy28]

It's very simple. You have to make a will with a lawyer.

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

same here mate , this is why I already let my Wife and my Mother about my assets at least when pandemic comes hard to our lives .

Now that I have something in my health ? My mother and Wife will have the full authority of my assets once bad things happens unexpectedly .

we have worked hard from our assets so we are the only one that will decide where this to be settled when were gone.

decide now mate because we cannot withhold our life even if how bad we wanted.

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

if we are not married then yes it may better or at least our parents? but if we are already has family then it is our wife and children.

[Memorabilia]

All my financial assets will belong to my family after I die. They know all about my trading or investing projects.

[Marvell1]

It's very simple. You have to make a will with a lawyer.

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

same here mate , this is why I already let my Wife and my Mother about my assets at least when pandemic comes hard to our lives .

Now that I have something in my health ? My mother and Wife will have the full authority of my assets once bad things happens unexpectedly .

we have worked hard from our assets so we are the only one that will decide where this to be settled when were gone.

decide now mate because we cannot withhold our life even if how bad we wanted.

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

if we are not married then yes it may better or at least our parents? but if we are already has family then it is our wife and children.

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

[eightdots]

It's very simple. You have to make a will with a lawyer.

Could you believe that I've been thinking of this subject ever since I first read it and has been bothering me? Anything could happen to anyone at any time, most people are not prepared, and there could be an accident and instant medical conditions like cardiac arrest that could lead to death. But are they prepared? No, so their wallet is gone as well.

same here mate , this is why I already let my Wife and my Mother about my assets at least when pandemic comes hard to our lives .

Now that I have something in my health ? My mother and Wife will have the full authority of my assets once bad things happens unexpectedly .

we have worked hard from our assets so we are the only one that will decide where this to be settled when were gone.

decide now mate because we cannot withhold our life even if how bad we wanted.

This is the problem we face with trust issue. I think we should allowed one of our siblings know about our coin because nobody knows when he or she we die. The trusted one should have access to our wallet when we are alive incase of necessity.

if we are not married then yes it may better or at least our parents? but if we are already has family then it is our wife and children.

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

In fact, this question leads one to question family values. How many of our families know about our wallets? Maybe you have a small or very large amount of cryptocurrency. Actually, it doesn't matter the size of your money. Are you investing only for yourself? As in the title, death is a fact and will happen to all of us. Did we take the necessary precautions after we died? Will all our investments be destroyed without the knowledge of our loved ones? We have time to consider them in detail.

[HughMunro]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

My family doesn't think it's wealth, they object to my daily attention to cryptocurrencies, think I've entered a scam, and if I die, they shouldn't cherish my assets or remember that I hold cryptocurrencies.

[mich]

When I die my bitcoins will go to my significant other whoever that is at the time or my children if I have any.
I pity the fool that doesnt prepare for his fate like this and leaves his bitcoins in a wallet, never to be touched again or taken by someone else who some way discovers how to access it.

[Cryptmuster]

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

It's like stories when someone finds a cache of jewels, and there will always be stories like that, it's normal, because there are those who do not trust anyone. In general, we want to create wealth in order to live life in abundance, so we need to distribute it in such a way that we don’t have to pass on a very large fortune to the next generation (just kidding). You need to trust, otherwise it can turn into a paranoid life...

[Marvell1]

Life is full of surprises so always prepare yourself a plan b. Let's remember that we try to work, try to earn a lot of money for what, is it for the family? I am a married person and what I am holding, I have told my wife and mother even though both still do not understand what bitcoin is. They say it's unnecessary because they don't want to think bad things but I think it's really necessary because I don't want to waste my efforts all these years.
I find it quite surprising to see that many people do not trust their family members, refuse to share with their loved ones, are afraid of people stealing their property. I see that if we are already husband and wife, as brothers, but do not trust each other, a lot of money doesn't mean anything.

It's like stories when someone finds a cache of jewels, and there will always be stories like that, it's normal, because there are those who do not trust anyone. In general, we want to create wealth in order to live life in abundance, so we need to distribute it in such a way that we don’t have to pass on a very large fortune to the next generation (just kidding). You need to trust, otherwise it can turn into a paranoid life...

It is not necessary to pass on wealth to the next generation because if they know we have assets to save, they often rely on it without effort. I am following that lifestyle because I myself have not inherited any of my father's assets and I am confident that I can earn more like my father did. But really if in life we don't trust anyone then we will be lonely all our life and can say that we will never succeed, money lost can be regained but family love can never be bought with money.

[sulendra12]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

No one knows when we die, we could expect everything is going alright but we never expect unexpected stuff happen during our life. For me personally, I don't really store in this case hoarding Bitcoin or any altcoin at the moment because whenever I got something from crypto, the portion of that asset will send it to my bank account right away for my needs. I might teach my family about it really soon though if they ever encouraged to even try it, otherwise will store it on my bank.

[xSkylarx]

Hello guys just don't get me wrong. As we all know that one day we have to die. So for this I was wondering that if we have at east 1 million dollars in cryptocurrency or just couple of buck like me   and nobody in our family and also friends do not know anything than what should be the possibility.
I think that's the reason still there are millions of BTC that are still missing cause of lost key or dead Bitcoin holders too.
I think we should at least make backup  file and should transfer in Bank Safe so that when they receive than they know how to retrieve it.

Still not getting Any merit 😁

If you die, most of your coins will be lost. As you can see, there are bitcoins that have no movements on the blockchain. This is either because their owner died or because someone simply held onto it for a long time. It is best to have a backup plan that you will be making or writing your private key on paper, then storing it in a safe, then inform your family or relatives about it, but just say to them that it needs to be open after you die and explain to them that it is very valuable and very important. It could help them in their lives, but don't mention that it is a bitcoin so they will not think of it.

[wiss19]

In fact, this question leads one to question family values. How many of our families know about our wallets? Maybe you have a small or very large amount of cryptocurrency. Actually, it doesn't matter the size of your money. Are you investing only for yourself? As in the title, death is a fact and will happen to all of us. Did we take the necessary precautions after we died? Will all our investments be destroyed without the knowledge of our loved ones? We have time to consider them in detail.

It’s quite important to leave them something, and my wife has always known about my bitcoin investment. She may not care about what the price is exactly, because it is clear that it goes up and down and she doesn't check it as commonly as I do, so maybe she has no idea about it at exact rate, but she does know about it for a small margin of error, like 10% give or take most days.

That is why it is important to let your loved ones know about it, and that is something that you should at all times do, let them know. Doesn't mean you should go around telling every person that you have money, but it also doesn't mean that you should hide it even from your wife.

[Odusko]

~

~ Currently all my crypto assets are stored in hardware wallet and my wife is the holder of it, I have copied my private key into 3 different copies, my wife keeps 1, my son keeps 1, and one for me. ~

Yup, that's a good choice. But it must be confirmed, especially for children, that they are not allowed to unlock the wallet while you are still alive. It would be better if the private key in their hands could be used only when they die, or if they're alive but can't afford to handle it.

The first thing to do when you open a wallets address is to have your recovery phrase saved for future reference in other for your funds to be secured one or two people you trust needs to have access to all your accounts and security pins so that their can have access to your money wallet when you are no more or out of reach.
I experienced something similar earlier on, and when the individual passed on his accounts could not be accessed, and all the funds in them were locked away forever.

[Vlad1977]

If you don't trust your family members and don't give your private keys to your family members, then even if your family members can inherit your assets, they can't claim your cryptocurrency.
You can inform your family of the private key in advance to avoid any accidents.