Willing my bitcoin to my children

[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.

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[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.