Willing my bitcoin to my children

[Onyeeze]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

[Etranger]

I don't see bitcoin not being inheritable as a problem. On the contrary, I see the fact they can be transferred, avoiding taxes, absolutely directly to whomever you want as a great advantage. Your kids may not want to understand Bitcoin as much as you do, but you can teach them how to use a wallet and how to sell Bitcoin when they need to cash it out. It is not difficult and can be assimilated very quickly.

[Frankolala]

If you are willing your bitcoin to your kids,you need to teach start teaching them about bitcoin and why it is important for them to know about bitcoin. If they have picked interest,that is when you should start teaching  them about wallets and which wallets is the best to keep funds, and that is easy to understand in terms of transferring funds from one wallet to another.

Then you can create three wallets for them and start saving their bitcoin for them. They should also have their own personal wallets apart from the ones you that you created. My suggestion is that after this,you can also teach them how to import keys from one wallet to another so that when it is time for you to hand over their bitcoin to them,you can give each of them the seed phrase to their wallets and tell them to keep it safe,so that when you pass on they can import the seed phrase to their own personal wallet.

[rat03gopoh]

bitcoin is not a property which your children can inherits like other properties that is mark able,

Bitcoins can be inherited by several technical means ^[1][2], get an attorney as is common inheritance, or combine the two methods if certain conditions aren't possible.

I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

In some financial situations one day it can make them learn the basics of bitcoin, like it or not. Apart from that, inheriting bitcoins also includes inheriting wealth when considering its current value.


1. https://bitcointalk.org/index.php?topic=5180850.0
2. https://bitcointalk.org/index.php?topic=5377228.0

[bitcub]

I am bullish with crypto... but dont put all your eggs in one basket. We do not know what will happened next. Maybe crypto is very secure as of today. Maybe in the future when we are dead someone could created a super computer that can alter and crack all the blockchain security even break the seed phrases. And this scenario is possible. If this happened there will be a free fall to all cryptos. Your inheritance to your family will be wasted!

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

[avp2306]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

To make all of this not complicated on the side of your children, much better if you expose them so early on this industry si that they would know what you are doing into. And they may have an idea that you have a investment on bitcoin, if there's something bad happen they would know where to locate your keys and they could use your hodl balances without any problem. This topic needs to be properly executed very well so that there's no risk for all of the parties to lose totally your money if you suddenly  die in unfortunate way.

[CryptSafe]

Willing your bitcoin assets to your children is not a big deal. Your children should possibly be your next of kin as you wish but forcing them might just spoil the whole process of them learning and having knowledge about bitcoin.

I think you should just start by gradually getting them involved in bitcoin at first. Then gradually they would pick interest in it on their own. That saves you some stress of forcing them to learn about bitcoin.

Putting all assets in bitcoin as a will to be passed on to your children is not bad but be mentality prepared for the unforseen because it is not advisable to do so. What if there is a possible threat and hack what would you say to your children. It is wise you diversify so as not to put all inheritance on bitcoin for your children.

[boyptc]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

This is easy, just make a last will testament that includes all of the instructions and etc. But the harder part is to whom you're gonna let them guide if they don't want to learn what Bitcoin is.

Yes, we don't want to die now so why think of this as you're stressing yourself out with this. This could even put you more into a stressful day that shall take some emotions for you that can trigger your mental health.

Honestly, there's such a lot of ways to do this like hiring a reputable lawyer so that it's sure that it will be given to your kids.

[EarnOnVictor]

Willing your Bitcoin to your children is not the problem, how you would will it and keep the wallet and the plan safe are the problem. And for the record, it's not as easy as you merely stated it, the different passwords with different accounts should be the least of your confirm here.

Your main concerns should be:

1. Who has the private key to these wallets.
2. The reliability of the wallet to be used (hacking and wallet company outdated).
3. Age of the children and when and how to entrust it to them. And how sure your children will be discrete about this without telling anyone out of childishness.
4. If a lawyer or bank is involved in the safekeeping of vital access information, won't they comprise?

This depends largely on the money involved, it might be wise for you to think this thoroughly and make your plan as secret as possible.

[348Judah]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity

If you're a bitcoiner abd still interested in making an inheritance for your children then you're considerable enough in planning for the future because the children you don't plan for will not takecare of you in old age, this begins with you teaching them to know about bitcoin, investing a little amount of money into bitcoin for each one of them individually on a decentralized wallet and leaving behind for them a means through which they can acess your wallet later in life.

because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

If they are not willing to learn bitcoin now you cant force them to, but you can leave a gap between now till they grow older to discover how the world is evolving round about the bitcoin digital technology, they may be the oes to decide by themselves to learn about bitcoin when seing those around them already into bitcoin.

[robelneo]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able.

That's not true Bitcoin has no qualification for anyone to hold it, it is private keys based so those who own the private keys have access to Bitcoin, all you have to do is to will your passphrase and your private keys to your children, with all the explanation attached to it and everything is good.

 

Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin.

By that time Bitcoin could be worth ten or a hundred times its value now, why would your children disregard Bitcoin at that time, they will even thank you for saving Bitcoin for them.

but I'm not planning to die now, but we don't what tomorrow will result out in the future.

We don't know what's going to happen to us or even the future, but it's better to prepare for every eventuality, and willing Bitcoin to your children is such a great idea.

[Z390]

Proceed, no one will say it's a bad idea, we all want to leave something behind for our children isn't it? First make sure they have knowledge about what you plan to give up to them, after that you can buy few set of hardware wallets and move the amount of assets you want for each of your children then after you are sure they can handle the wallets themselves they you can start giving them the wallet one after the other..

I will advice you to keep each amount you plan sending to each wallet private, some kids feels less loves than others and they are the type that easily get jealous, this depends on how you trained your children, if it's equal love then you are free, you know your kids better than anyone.

[Lorence.xD]

That's actually a good, you think of the future in case of death occurs which I hope it doesn't happen OP. If you planning to give them what you left in this world which is the Bitcoin, then you'll have to start teaching them the knowledge you have in Bitcoin as well the do and don'ts since crypto industry is too complicated especially if you have no idea or basic background about it. If this the case you could also divide your funds some into fiat as well so in case they haven't figured out yet the crypto then they would have an alternative choice to have some funds.

[Ndabagi01]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet.

Don't worry, your bitcoin will not stay in your wallet eternally if you don't want it to. The goal of saving is to have a comfortable life with your family. If you truly want them to be able to spend your wealth after your death, you'll inform them about your bitcoin savings and how to leverage on it when you're no longer alive.

Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

You don't have to convince your children to learn about bitcoin; if you tell them about the benefits of having a bitcoin savings account in their lives, they'll eventually learn about it on their own. The world is changing, and digital currency is taking over the financial realm. I'm sure they'll eventually learn about bitcoin in their scope of study or outside of life, as it will become a topic of debate everywhere that everyone will want to learn about and participate in.

[ajiz138]

If this is a concern for you then you need to diversify so it will be safer than hiring a lawyer it will still be a problem later too, especially if your child is only 3 years old of course it will wait a long time to grow up and understand about bitcoin so you have to wait a long time again while no one knows when the masti will be.

But I say your goal is indeed good where to choose bitcoin as a future asset for your children but I hope it will last a long time so that you can give it yourself without being represented by anyone when you want to give assets to your children when they grow up and understand understanding they.

[Wapfika]

I don't see bitcoin not being inheritable as a problem. On the contrary, I see the fact they can be transferred, avoiding taxes, absolutely directly to whomever you want as a great advantage. Your kids may not want to understand Bitcoin as much as you do, but you can teach them how to use a wallet and how to sell Bitcoin when they need to cash it out. It is not difficult and can be assimilated very quickly.

This suggestion depends on the age of the kids. Also educating them about Bitcoin is still not enough for them to recover their father's Bitcoin unless the father gives access to his private key which is dangerous since kids are still kids. In the end, You will still need a reliable guardian to whom you can entrust the private key until they are on a proper that can understand well how Bitcoin works.

Hiring an attorney is one of the possible solutions regarding this if the OP doesn't have any trusted relatives or partners. I personally won't give access to my private key to my children even if they are already grown up while I'm still alive because they might waste it due to their youth greediness. I'd rather convert my Bitcoin into cash and put it on their time deposit rather than sharing a private key when I'm still alive.

[jeraldskie11]

There's no problem if the Bitcoin is non-inheritable because it's more better than property. You can able to earn more money when the times goes by in investing property but also in Bitcoin, the only difference is that the earning potential of Bitcoin is higher. That's why Bitcoin is the best thing you can give to your children for their future. I suggest to not to give them the private key at their very young age, just keep it on your computer and never let anyone who can touch your computer. But let them know they have a Bitcoin in your computer so that if ever when your time comes they can possibly get their Bitcoin. That's only my suggestion since I have a heard story from my friends that there's Japanese miner of Bitcoin who passed away and their relatives searching for a Bitcoin in his computer and they found it.

[Jawhead999]

If you not willing to share your private key to your children, you can create a time locked transaction this will make your coins automatically moved to your children address depends on exact date you created before. This will make you able to move all of your coins in the next 30 years without need to access it in the next 30 years.

Another choice is using a custodial wallet where your private key are controlled by the site, although this is a bad idea, but I've read some site offer such kind service.

[KiaKia]

Now is the best time to start lecturing your kids about Bitcoin and crypto wallets, it's going to be challenging if they are still very young and I wont like you forcing them to learn it, make sure they are up to 14 years old because some kids have passion for other things and it wont be right to bring Bitcoin to their attention at that very young age which can influence them into letting go on something they have build so much passion for, hope you get my message.

It's not a must to settle them with Bitcoin, make sure they have interest in Bitcoin first, imagine after buying hardware and sending them Bitcoin and they decide to sell and never buy back? So why the stress in the first place? Let them be the pathfinder.

Some kids will prefer Fiat instead no matter how much you want them to get involved with Bitcoin and there is nothing you can do to change their minds, make sure the kids develop an interest in Bitcoin first.

[benalexis12]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

The question is how old are your children? Did you teach them how to create an account like Electrum, or maybe Hardware wallet, Ledger nano, and Trezor. Though, I believe that Bitcoin can be inherited in reality talk.
Then, you want to do it's like a will of testament and in this industrt it's a Bitcoin will of testament, it's pretty good. That's why only your children should know the password, private key or seed phrase so they know.

[Aikidoka]

Let's avoid discussing death since it's something beyond our control and often unexpected. However, if you wish to pass on your bitcoins to your children i think there are a couple of options. The first is to slowly educate them about bitcoin and how to use it over time. The second option is to entrust someone you trust who is knowledgeable about bitcoin to handle the funds on behalf of you to your children in the right moment, that's only if they have no interest in learning about bitcoin and related matters.

As for another method it's worth exploring the possibility of sending a future message to your children (I wonder if there's a service like that). The idea would be to find a reliable service that allows you to securely transmit your seed phrase and other wallet information to them after your death. This way, you can ensure that you don't reveal any sensitive wallet information while you're still alive. It's important to carefully research and choose a trustworthy service for such purposes.

[kryptqnick]

Whether Bitcoin technically counts as property and is thus technically inherited by children depends on the jurisdiction, but it's not of any use if nobody has access to anything allowing to open the wallet.
People say the op should teach the kids about Bitcoin, but we don't know the age of the children (unless 'three' is referring to their age), so it just might not be possible to teach them yet. But the desire is admirable, and I hope the op will find a way that works best for their family in terms of how to arrange the inheritance.

[ImThour]

It will be much better if you introduce them to Bitcoin in a way that leaves a healthy impact on their mind and not the one like going from rags to riches in months.
Bitcoin is way more than pump and dump and nowhere near to be considered as an alternative to existing cryptocurrencies like Ethereum or Dogecoin.

[dlightag]

Bitcoin is a digital assets that can be invest for our children's and is a very good idea,  while taken the Smart move of investment as a long term holding, as for the children has no interest at early age, that should not be a problem, because your paying the price now for your children future, assume my dad paid such price at early stage, I mean early 2010, when Bitcoin price was less than $1, base on the coinmarketcap record history and as child I'm and my dad bought at least 2000 BTC and hand over the Wallet now I'm adult, which a great legacy given to the son, Therefore don't let death or other things not to buy Bitcoin for children, because of lost of password or private key, just put it in documentary book with the child name in a bold form because of tomorrow.

[imamusma]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able,

What are you worried about when you have the option to inherit your bitcoin in a good way?
I mean you always have time to get everything ready including inherit your bitcoin to the kids. If you doubt that a 3-year-old child is not ready to receive an inheritance, then inherit it on to anyone you trust, including your wife.

You are never advised to invest in bitcoin if you are currently in intensive care for your illness. What is clear is that you are no longer ready to prepare for anything, including thinking about inheritance, but if it turns out that you are currently healthy, then prepare for it as well as possible.

[Razmirraz]

Bitcoin can still be passed down from generation to generation as long as you understand how. Anyone never knows what will happen tomorrow and in the future and no one can predict how long they will live. Early anticipation is needed so that the assets you have stored can be disbursed when you die. Make video tutorials with Seed Phase attachments and Private Keys for each wallet, then direct them step by step to cash out Bitcoin into fiat.
Even if your children are not interested in Bitcoin technology, at least they can enjoy the legacy you left after watching the video with the tutorial attached in the video.

[Litzki1990]

If you die due to any accident after depositing the money in the bank then the rightful ownership of that money will be your children and the bank authorities will hand over your savings to your children but there is no such guarantee in case of Bitcoin. If for some reason you have such an accident after investing in Bitcoin, no one will explain your investment to your child, but you can adopt a method in case you can save your wallet password or private key in a place and share this with your children. You can negotiate if your children are small then share your wallet password with your wife or any family member so that all your bitcoin investments can be explained to your children in case of such unexpected events in your life.

[Franctoshi]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them,

Such topic has been raised sometime in the past, however it's necessary we do this as death is inevitable. Also ensure you keep it safely where only your kids or your wife whom you trust can get access to, otherwise someone else getting access to this seed phrase will put your funds in danger.

because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  

This shouldn't be enough reason to force your children into learning Bitcoin stuffs if they aren't interested now, tell them what they need to know and allow them take decisions by their selves, do your part in terms of willing your BTC to your kids and I do believe with time when they must have grown up and gets matured in mind they would have realized the need for that.

[michellee]

You can leave a letter for your children and you give the letter to your confidant so that later he can give the letter to your children. That means your children can use your Bitcoin as well as you want.

And you also have to tell them how to use Bitcoin so they can use it properly. This is about how you prepare your children to receive Bitcoin as your inheritance so they can continue what you've been doing.

You still have plenty of time to have lots of Bitcoins and you better focus on accumulating those Bitcoins so you also prepare those Bitcoins for your children.

[Cryptomultiplier]

You can will your Bitcoin to your children knowing they have the knowledge of someone has the potential of teaching them in the family.
It would be risky to give your seed phrases to a lawyer for keeps in case of death, unless you trust them very well, because anything can happen once you no longer have control over your phrases.
If your children also live in a country where it is legal tender it is wise, but more discretion would be employed in a country where it isn't.

[Ojima-ojo]

Transferring Bitcoin to your kids as an inheritance is not the problem, the problem is how sure are you that your children will see Bitcoin as a valuable inheritance unless and until their thought of the value of Bitcoin even though Bitcoin does not have a physical representation.

Some kids will value assets like real estate or a company as sustainable assets to inherit since society is wired to reason that way,  and if you want the pass your bitcoins to your kids it is quite simple if they have the motivation built in them.


So you as the father who is involved in Bitcoin have the responsibility to teach them everything they need to know about wallet and wallet securities how to recover them and so on.  


Store the private keys to the wallet holding the Bitcoin somewhere safe and accessible in your absence and the only time they can have access to the wallet key is when you are no longer alive,  that way,  you pass the inheritance without incurring any liabilities in form of bills and feel in any form.

[yhiaali3]

In my opinion, the problem is not that children are taught Bitcoin, but that they are too young to take responsibility and may cause your fortune to be lost if they acquire it before they reach the stage of youth or manhood.

If your children manage to get the keys to your wallet, they may act wrong and cause their money to be lost, so in my opinion it is better to keep the private key with a trusted person (the children’s mother or uncle, for example) and when they grow up, they are taught Bitcoin and handed over their own keys.

Or you can use bitcoin timelock transaction :
https://bitcointalk.org/index.php?topic=2415595.msg24712001#msg24712001

[Nwada001]

This thread reminds me of a post I read months ago, where we were arguing if it's okay to share your private key, phrase, and wallet access with anyone other than you. This kind of thinking is actually the reason why people have rethought how to store and safeguard their bitcoin. But to me, this is actually nothing to worry about. The same way you can open up a fixed deposit account in the banking sector and set them up for your children, the same way you can actually secure your children's Bitcoin investment for them until they are all ready for you to hand it over to them.

All you need to do is either create a separate wallet for each of them to avoid complications and sharing issues. Those wallets can be funded just like you said you already have some Bitcoin holdings. If you choose to use a hardware wallet, you can actually protect and safe guard the wallet together with each of your child's important documents and materials, maybe their birth certificate, school certificate, etc. If it's a hardware wallet, you can use a secure password that you can only give to the owner of that exact wallet and let each of them know what's inside. That's just one simple way among many that you can use to avoid a total loss of funds if you are not there to hand it over to them yourself.

, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin,

The advancement of technology I don't think anyone actually needs to learn more things or show more serious interest in Bitcoin before they can be able to use it; all you need to do is teach them the basics, how to secure the wallet, and how to send out. That's all; those are things they can actually do themselves in a matter of minutes without anyone teaching them.

[Mpamaegbu]

if mistakenly I return to my maker...

😆 You acted like a typical Nigerian there and our way of running away from telling ourselves about death. What is someone mistakenly dying 😆.

...that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet.

This is a big issue with cryptocurrency and I know a lot of this scenario has occured with many hodlers, even in this forum, with those who died intestate. I've heard some make laughable comments as to how they will make sure they reveal their crypto hidings to their loved ones or next of kins before they die as if anyone knows what date they will die. Those who loud the need for privacy are the worse hit on this because they hardly trust anyone with their crypto stuff and wouldn't want to divulge any. It's important to have our crypto hodlings documented somehow so they can be discovered when we pass on.

[Crptomagma]

Bitcoin willing to your children is not a bad idea but then it becomes an issue if your children do not know anything about Bitcoin and how it works. So the willing of Bitcoin to your children will only make sense if you put them through and bring them to the knowledge of Bitcoin so that in ur absence they will see the need to uphold the investment

[Nrcewker]

It’s your Bitcoins and you can do whatever you want with them. I don’t see any solid point to share this context here. I mean are you asking about your decision? Or are you here explaining us the process that you gonna follow in order to do the activity that you have mentioned in the OP? There is no point of storing the Bitcoins in two separate wallets and passing the private keys to the children. Instead you can directly send the coins to them and without any taxes or major fees. But yes now the world has advanced so much that, I am hearing cases like this where digital assets are also inherited. Good luck OP.

[ReiMomo]

It is the time to invest in Bitcoin for your children. It's important to choose a platform that's easy to use and secure. Before investing in Bitcoin you must thoroughly educate your child about the Bitcoin. They must know the basics of cryptocurrency market and know how to secure the wallet. Bitcoin is good for long term investment and you can gain huge profit.

[BIT-BENDER]

If you are willing to give your children your Bitcoin after death it's best to give them details about the wallet now, if you trust your children now and think they deserve your Bitcoin after your death then I think you shouldn't hide it away from them now.

It's true that right now there isn't much plans in place to pass down ones Bitcoin to the next of kin Incase of death, but I believe there are few plans prepared for this type of situation, but there is a time lock plans that would help you

To create the Time Locked Address:
1. Go to Coinb.in;
2. New -> Time Locked Address.
3. Enter your address public key (the one you require to sign the transaction and be able to spend the coins);
4. Enter the date-time or blockheight you want to release the coins.
5. Submit and save the Redeem Script (don't lose that or you won't be able to spend your coins in the future);
6. Send the coins you want to keep locked to the Address generated.

After the chosen period, you will be able to spend your coins.
1. Go to Coinb.in;
2. New -> Transaction;
3. Paste your Redeem Script and click Load (it's going to show every input available to be spent);
4. Paste the address you want to send the coins to at the "Address" field and the amount in the "Amount" field. The remaining funds will be used as fee. E.g: If your address has 0.015BTC, you can put 0.014BTC in the "Amount" field and the fee will be 0.001BTC (0.015 - 0.014);
5. Submit and copy the raw transaction;
6. Go to the "Sign" tab (at Coinb.in);
7. Paste the private key from the address you choose when creating the Time Locked Address.
8. Paste the raw transaction you just created.
9. Submit, copy the signed transaction and push it to the network (you can do it in the Broadcast tab).
10. Transaction sent!

[AnonBitCoiner]

It's very easy to give details about bitcoin to your children if they are not of enough age to understand so just wait and after few years teach them they will surely understand the thing because people easily pick the things which is in his favor and which give him advantages.

But I will suggest that never share this idea with your family members or any other relatives because there are large number of individuals who just think about themselves so if mistakenly you share the passwords of these three wallets then it is not hard to collect all the information related to the bitcoin.

Hacking of wallet and to stole a password is not a big deal these days so be careful with your own assets and try to save the whole details with your family only.

[Issa56]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able,

Bitcoin investment is not having any disadvantage, when it comes to death, just depending on the way you plan yourself. If you properly plan yourself then your bitcoin won't waste even after your death, but if you don't plan yourself well, then your bitcoin might be in your wallet forever. Even if you are having just one wallet and you are having 3 children, the bitcoin can easily be shared among them, just make sure you private key is in your WILL and after your death, the amount of bitcoin you are having can be divided by the amount of children you are having, and each children will create new wallet which they will use to receive their bitcoin.

[Zanab247]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet

if you die without giving your children your wallet address which is part of your property for them to use to sustain themselves on earth to keep praying for you for Allah to grant you peace. BTC is a good thing will need to impact to our children so that when they grow up to experience the favourable side of BTC they will have every reason to be thanking their father or mother.

Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin

You don't need to force them to learn BTC at their age now, but start taking them out for flexing and remind them that you are using BTC to finance the outing so that it will make them to be serious to learn BTC so that when you are no longer alive they will keep growing in wealth.

[Rockstarguy]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able.

Your children can inherit your bitcoin if you make good planning now you are alive by putting down necessary information that will be needed in the future in a safe that they can get it without being tampered with just as the money that is in the bank. Everything depends on your planning,  
same with the morning in the bank if you don't make good planning of inheritance and if you are no more your children won't have access to the money.  Your children can inherit anything you want them to inherit if you plan things that will make it easy to get access of it. Everything is planning and doing it in a right way.

[_BlackStar]

Some people still have the wrong mindset about bitcoin, including Onyeeze.
Bitcoin cannot be inherited without a seed or Private Key. Your child only needs to have one of the two files/ both in case you are gone for any reason.

You just have to store it safely somewhere and inherit it from now on in some of the recommended method. There are many people and companies in the real world who can be trusted when it comes to inheritance, so you may consider that suggestion for your inheritance plan for children including passing on your Private Key and Seed to them.

[South Park]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

If the amount of bitcoin you have is significant enough you want to inherit it to your kids then you need to teach them about it, now I know you do not want to force them if they are interested on it and that is fine for a great deal of topics, but when it comes to something this important you really need to teach them, after all how many kids do not like the idea of eating vegetables and yet the adults insist on it because it is for their own good? I see this in the same way, so teach them how to recover your coins and get rid of those nightmares which keep you awake at night.

[milewilda]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

In situation like this then i would usually be having that kind of will which it would be including that some sort of USB or falshdrive containing all of those private keys. Of course its a bit risky in putting up some safeboxes
or would be deposited something like this and on the time comes that you've died then this is the time that they would be able to access those things but of course you should really be letting them know
on whats Bitcoin or crypto is all about so that they would really be having  the idea on how to access it and make some conversions if ever they do want to have some money.
If you do trust up your child then you could also let them know about those phrases or have access but actually it is  really that hard to entrust out when we are still alive.
We dont know on when those coins would be accessed out without your permission which as long someone does know the keys of such wallet then it could really be accessed anytime.

[BIT-BENDER]

You just have to store it safely somewhere and inherit it from now on in some of the recommended method. There are many people and companies in the real world who can be trusted when it comes to inheritance, so you may consider that suggestion for your inheritance plan for children including passing on your Private Key and Seed to them.

It's hard to trust your inheritance with any person or companies that would hand over your inheritance to your kid, I think it's a very risky move to make.
Firstly there is no third party you approach a company who are into Bitcoin inheritance and give them your private key to your Bitcoin with hopes they would give it to your kid after death.

Firstly how can you trust their credibility, also what are the chances they would keep your private keys safe, to me that's a very risky move to make never trust anyone with your private key.

[flyingcarpet]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

Many suggestions say that you should teach your kids about bitcoin. I also agree with this idea. Someone else who knows these keys can always be a problem, so it may be best to teach this system to your kids when the time comes. If the time has not come or it is too early, you should leave some of your investments as money in the bank.

[CryptSafe]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

If the amount of bitcoin you have is significant enough you want to inherit it to your kids then you need to teach them about it, now I know you do not want to force them if they are interested on it and that is fine for a great deal of topics, but when it comes to something this important you really need to teach them, after all how many kids do not like the idea of eating vegetables and yet the adults insist on it because it is for their own good? I see this in the same way, so teach them how to recover your coins and get rid of those nightmares which keep you awake at night.

Basically, knowing some of the fundamentals of bitcoin is very necessary. So as to have idea how it works. So, you can teach your children how bitcoin is and how it works. For the Start to arouse their interest, you just give them the basic tips about bitcoin do not force it on them and watch how they pick interest in it. They would become curious to know more about it and at that point in time, you can put them  through the process of knowing more about bitcoin but should not let them know you have that as a will for them otherwise they would act smart on you if your kids are the type that she's too curious to get down to every details as they want.

I believe after they must have been knowledgeable enough about bitcoin and be able to control themselves enough if they get to know about the will then you will be able to let them know but do not tell them where it is kept.

[freedomgo]

Investment with bitcoin is good but it have a disadvantages when death occur, bitcoin is not a property which your children can inherits like other properties that is mark able, I notice that with all the I have being investing in bitcoin if mistakenly I return to my maker without by children knowing my bitcoin wallet security password, that means that my bitcoin will remain in my wallet till eternity, this gives me a nightmare, my kids are three and I want to have different wallet of bitcoin and WILL my bitcoin to them with the password of each of the wallet. Because my investment in bitcoin I will make sure that they have know bitcoin because of the wallets I will issue to them, because if they are not willing to learn bitcoin I can't force them to learn and understand bitcoin, but when I'm no more the will know the important of knowing the basic of bitcoin,  but I'm not planning to die now, but we don't what tomorrow will result out in the future.

To make all of this not complicated on the side of your children, much better if you expose them so early on this industry si that they would know what you are doing into. And they may have an idea that you have a investment on bitcoin, if there's something bad happen they would know where to locate your keys and they could use your hodl balances without any problem. This topic needs to be properly executed very well so that there's no risk for all of the parties to lose totally your money if you suddenly  die in unfortunate way.

However, wait for your kids to be mature enough before you will start teaching them about bitcoin and expose them as to what kind of investment you are into. For now, you can teach your wife first so she’ll be aware also on how to trace your investment if ever you suddenly lost your breath unfortunately. I guess that will not worry you anymore because your wife will be the one to teach your kids in the future when you are not around anymore.

[Rengga Jati]

Actually there is no problem when we want to leave or invest in our children's future. As long as we understand all the risks of the investment. Regarding investing in Bitcoin for children later, this is also actually a good idea. As long as we can really prepare for it, want to consider who will handle the investment, at what age will the children be told and taught. Because it's impossible if we don't teach our children about Bitcoin, because we don't know what will happen. But here, we also have to consider the security of our wallet, in terms of access or storage.