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

[Iranus]

Normally, when the owner of an asset passes away, the asset is transferred or inherited to his family. For example, a house, or a business (in that case, the stakeholders might earn something too). Gold, however, which is closer to bitcoin than houses and liabilities are, can't be accessed unless he's told them the place he's hidden it.

Bitcoins, for once more, have the advantage to be signed as inheritance, without revealing the private keys / location. See Using Locktime for inheritance planning, backups or gifts.

You are right but nobody like me do not know how to do this. Cause mostly people and also in our family thinks that cryptocurrency is a joke and can be scam and they do not believe in this. Same case is with me. And cause people do not believe what is hidden.

I believe you haven't told them how much the property is worth. I think even if someone doesn't believe in bitcoin or thinks it's a scam, if you say you're holding $1 million worth of assets, let's see how they react, if they don't want to believe, they have to believe. But if we let them know too soon, it can be dangerous for us sometimes, so give it to the person you trust the most.

For me, my parents are also old, they don't believe in these virtual things. But when they see I can make money with my daily job of sitting in front of a computer screen all day and I make even more money than people with college degrees who are working. Maybe they don't know what I'm doing but now they believe in something called bitcoin that can make a profit.

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[Zlantann]

Maybe its just me, but tt feels kinda weird to store my crypto backup in bank. With that being said, I do have contingency plan set and people that are very close to me are explained what to do in case something happens to me. I don't have millions (at least not yet  ), but it would be a shame to go to waste.

It is really difficult to trust anyone currently because of the evil thoughts and intentions of men. People are now driven by materialism and uncontrollable desire for wealth that they can even kill because they want to inherit wealth. But the truth is you have to trust someone. My wife was not interested in Bitcoin because she taught it was a scam. But recently she has developed much interest in Bitcoin that she now wants us to invest more. This was achieved through gradual Bitcoin education. If I die, she might only one that would have access to my funds. Afterall all these struggles are for the children and she would be the best person to take care of them. But when my children grow up, I might have to divide my funds and give each one their own keys. But I think in the nearest future there might be a better means of transferring Bitcoin funds to heirs.   

[Darker45]

There are a number of ways to let your family know that you have Bitcoin when you die. For sure, when you die, they will try to get access to your computer, smart phone, files, and other stuff in your room. So you can actually leave a note somewhere indicating that you have Bitcoin funds safely kept in a wallet. You will also include all the information that is needed for them to gain access to the said funds. I guess that would be enough. But a bank safe is also an option.

[Raflesia]

Actually, if I'm not mistaken, there are a number of the same threads discussing this but indeed when we die and no one knows access to our portfolio then indeed this can also die with us in my opinion but there are some things that must be prepared such as inheritance and others.
I personally gave a note which is now entrusted to people I trust in this case if anything happens then I have given this access which will only be given to my family but with a note that I am dead.

No one knows on when we died, whether it would be sudden by accident or via illness, this is why you should really make yourself that prepared because it is really just a waste if you do just let those coins
be lost on void just because you had forgotten on how you should be passing on that one.You cant really be that too confident on exposing your private keys even into your loved ones and we
do know on whats the risk because they could possibly access it without any permission.This is why i do understand on why there are people who cant just trust up even
inside of their own family.This is why some decide on ending up on having those will but its not really something ideal or something that you could trust it out too.

Well in this case it is true because in this case trust is something that is very difficult to do, especially when it comes to your portfolio, even if it is in the family.
But on the other hand we also know that in this case we should have some more preparation about it.
As you said we don't know when we die and the worst can happen even if we don't expect it.

[Oneandpure]

There are a number of ways to let your family know that you have Bitcoin when you die. For sure, when you die, they will try to get access to your computer, smart phone, files, and other stuff in your room. So you can actually leave a note somewhere indicating that you have Bitcoin funds safely kept in a wallet. You will also include all the information that is needed for them to gain access to the said funds. I guess that would be enough. But a bank safe is also an option.

No body know abut when our die coming and necessary give detail data about private key if bitcoin fund saving on hardware wallet or giving all data needed from email, 2fa until mobile phone number if hold bitcoin on exchange market account. Actually need open minds secret with our family about how much assets have and save in bitcoin, when some thing bad happened to us they can recovery and get access to exchange market account or hardware wallet to transfer bitcoin assets we have.

I save bitcoin and several altcoin on hardware wallet and have prepare with all private key data access by my family, actually I have give them guide how to access hardware wallet and give them education about sending bitcoin or altcoin fund to exchange market.

[lovesmayfamilis]

Still not getting Any merit 😁

You can walk through the topics and see how much merit you can get by creating just one really competent topic instead of a bunch of useless ones. You have only recently registered on the forum, but you have already spawned 20 topics with questions that have been discussed thousands of times. 
Also, by copy-pasting other people's articles and begging for merit, you are building yourself a very bad reputation. 
But, on the subject, as long as you have your two dollars, I think you and your family have nothing to worry about.

[Mauser]

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.

If you have 1 million USD invested in bitcoins and other crypto currencies I hope you made a testament that includes all your assets and how the should be split among your family. Without a testament all your assets will go to your wife or children automatically. But if they sing know about the bitcoins all your coins might be lost. The next step would be to guarantee that your family can access your bitcoins. If they only know about your coins but can't access your keys than your coins are lost. With investment above 50,000 USD I would consider renting a safe deposit box at your local bank. There you can store all important information in one place and your family and has no trouble finding them. Alternatively you can also add instructions on how to access and keys to tour will. Then your lawyer will deliver that information to your family.

[rendravolt]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

[Jody.Drummer]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

Bitcoin becomes legacy, maybe so. All assets that we have today are none other than for our families in the future, whatever that includes bitcoin. That's what they should know about this (bitcoin). But it becomes vulnerable to loss. I mean if we tell all our families about the assets we have, because not all family members can be trusted 100% trust, let alone tell us the private keys of our wallets. That's a big mistake in my opinion. It's better to only tell those we trust and can hold on to our beliefs. Or we can also give it with a will.

[KingsDen]

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

What happens to our money in the bank if we die without letting any of our relatives know we have money in the bank. Will the bank manager withdraw all the money if they suspect you are no more and start announcing on newspaper and television?
However you want your bitcoin to be when you die, arrange it now you are alive.

Still not getting Any merit 😁

If there's a way to retrieve the ones you have gotten, this topic would have reduced 1 for you and begging for merits will reduce another for you.

Please before you ask what happens to our bitcointalk account if we die, please use the search buttons, many of these topics have been discussed.

[Bobrox]

Bitcoin becomes legacy, maybe so. All assets that we have today are none other than for our families in the future, whatever that includes bitcoin. That's what they should know about this (bitcoin). But it becomes vulnerable to loss. I mean if we tell all our families about the assets we have, because not all family members can be trusted 100% trust, let alone tell us the private keys of our wallets. That's a big mistake in my opinion. It's better to only tell those we trust and can hold on to our beliefs. Or we can also give it with a will.

No doubt with all assets in our hands today become the owner for our families later actually after we die include with bitcoin, but have exceptional if our family know about private key or document with exchange market access used for saving bitcoin fund. Alive and have chance for giving document or private key to our families not bad way tell them about how much bitcoin assets have and save on which one exchange market or hardware wallet. Lets our family know about detail with Bitcoin fund saving on market and give them little way how to withdraw if our families do not know about Bitcoin way for withdrawing, don't make Bitcoin burning assets because can't withdrawing without know private key and keep exist in our wallet forever.

[dunfida]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

Bitcoin becomes legacy, maybe so. All assets that we have today are none other than for our families in the future, whatever that includes bitcoin. That's what they should know about this (bitcoin). But it becomes vulnerable to loss. I mean if we tell all our families about the assets we have, because not all family members can be trusted 100% trust, let alone tell us the private keys of our wallets. That's a big mistake in my opinion. It's better to only tell those we trust and can hold on to our beliefs. Or we can also give it with a will.

Better if its on will rather than giving and telling on into your keys when you are still alive.Risks on getting accessed would really be there.I dont really like to put up some doubts and suspicion into my family member but

its better to avoid it for now because its true that 100% trust isnt something that you could guarantee even if we do talk about your loved ones.There's always possible risk or chance that things turns out to be mess
when we do speak about money.

Money can change everything,even if it need to break up someones trust and relation.This is why its better to avoid while its still early.

[DoublerHunter]

If we die and still have some bitcoins all we have to do is give the private key to a trusted person like our family, wife or children. I once had the experience of losing 1 btc in 2015 just because I forgot to back up the private key and it hurts when you look at the current bitcoin price. So even if you feel lost, you better give it to your trusted person, maybe it will be more useful.

^But the fact is it is hard to trust someone.
I will instead hire a lawyer maybe that holds the key to my safety vault which is where my private key and other valuable things are stored.
When the time comes I will pass away, my lawyer will get those and my heir will surely get my belongings including BTC.
However, we are not alone, there are too many people out there whose BTC has been stuck forever in their wallet because it cannot be recovered due to an unfound private key which is very sad.

[Ihugbogo]

To me bank safe is not an option to have as a backup plan for our crypto wallet asset, what if the bank is been hit by criminals and the safe is being targeted what will happen then?
the best way to me always is to let one or two of your contacts incase of emergency always know about your assets and holding and a bit access to them incase of emergency. by so doing even when one is late their can be chances of assets recovery from their.   

[len01]

for this matter i have thought long ago planning to pass my crypto assets to my son.
when i already have a plan to pass down the bitcoin assets that i own to my children and my wife now the brand has started investing in bitcoin. and long ago i have passed down all the private keys i have to my wife and children. so that when i happen something fatal there are still my two families who continue my investment.
and i am grateful that since i left all my assets, my wife and children have also started investing in bitcoin and every time they buy and always add assets to hold long term

[Pmalek]

Plan ahead and make the necessary preparations while you are still alive. Your family inherits your possessions and assets, unless you make a will and give it all to someone else. This also depends on the country you live in. Some countries don't allow individuals to be excluded from inheriting what is legally their fair share. For example, a father who has 3 sons, can't exclude one of the sons from inheriting his fair share even if he makes a will. He can only do that if the excluded son tried to hurt or kill his parents.

Let's get back to bitcoin. To avoid legal complications and procedures, show your family how to access your crypto and what to do after you are dead. Even if your heirs inherit everything you have, including your bitcoin, that means nothing if they don't have the means (seeds and keys) to access those coins. That's the beauty and danger of a non-custodial asset.   

[Leviathan.007]

This question is a bit old and repeated for many times in this forum, the answer can be different for many people depending on how they think. Some people including myself write the recovery seeds on a piece of paper and they make sure that their kids or inheritors will get access to the bitcoin by reading that piece of paper after their death, surely keeping that note secure until their death can be challenging for everyone. but some other people prefer don't let anyone get access to their assets and bitcoins after their death, so the bitcoins will lose forever if they die.

[kryptqnick]

This topic has been discussed before in various threads. If a person dies before making any arrangements for the coins and if nobody finds a password or a passphrase afterwards, then the coins are as good as burned: they exist, but nobody can ever access them. So yeah, it's up to everyone to think about what a person wants to do with BTC in an event of death. BlackHatCoiner mentioned LoyceV's Locktime thing, which is an interesting solution. In my case, I have a person I fully trust who has access to my coins, and another person who can figure out access to my coins if necessary.

[Issa56]

When you die and nobody knows your private key then your bitcon is gone, no matter how many bitcoin you are having all is gone, so it's better you secure your private key in a place where it can be seen after your death, so that your bitcoin won't just remain in your wallet forever, I know this have happened to lot's of people, most of them won't back up their private key where their relatives will be able to see it, some people's relatives don't even know they are having bitcoin in their wallet, why some people's relatives don't really know about bitcoin, so if you die then your bitcoin is wasted because it will remain in wallet forever and it won't be accessible.

Still not getting Any merit 😁

I don't get you, did you write the post because of merit? I don't see anything special in the post, similar thread have been created before, so I don't think anything is special that really deserves merit, anybody that wish to give you merit will definitely give, you don't have to be begging for merit. if you create a thread it's not compulsory to give you merit, anybody that wish can give you and if anybody those not wish to give you then they won't give you.

Please before you ask what happens to our bitcointalk account if we die, please use the search buttons, many of these topics have been discussed.

I think how to use a search button should be among the pined posts, atleast newbies joining the forum won't have to be creating threads that have been created multiple times before, am sure some newbies on the forum don't know about the thread and they don't even know how to use the search button.

[The Cryptovator]

You should manage something right now since you are thinking about what happens after you die. Have to teach your family members or have to trust someone else who knows everything about how to recover. I managed a notebook to manage all my credentials related to cryptocurrency. So in case of death, someone should be able to handle the funds. I wrote a couple of a number of my dearest friends who are able to recover. And I am teaching my family members as well. But the notebook is under my control of me. I don't trust anyone right now.