HOW DO WE TRANSFER BITCOIN WEALTH TO HEIRS AND THE NEXT GENERATION

[Ayers]

Coincidentally, I am also using this method. While I know this isn't the safest solution for many people, it's the safest for me and I haven't had any problems in years. I also write information such as seed phrase, password, private key...in the notebook. But that is really dangerous because the paper is quite fragile and easily destroyed, I then bought 3 USBs for backup to ensure the safety of my information. Of course, teaching my loved ones how to use them is indispensable. But I want to add a little more about how to store our phrase. We should take the time to check USB periodically because we all know electronic devices have a lifespan and can fail at any time. Periodic inspection and timely replacement are very important.
By the way, I also just tested them and they are ok   .

That's one option that can be done but like you said not everyone can accept that as a safe way including me because I still feel that storing in a USB sometimes we have to prepare for the worst where it could be corrupted which makes the data lost so even though it can be done but there must be a backup of the seed that we created.
I personally still like the old-fashioned way where I still write in my notebook and store it in a place that only I can access it (At least for now) but I have told my closest family about my bitcoin storage just for access I still hold back on it and it's enough just for myself for now.

You didn't read carefully what I said, mate. I write all the information in my notebook and keep it in a safe place, and the USB is just my backup. And as I mentioned, electronic equipment has a lifespan and needs to be checked periodically and if it is too old or damaged we can replace it immediately.

Coincidentally, I am also using this method. While I know this isn't the safest solution for many people, it's the safest for me and I haven't had any problems in years.

Buddy this is one of the worst idea in my own perspective and i wouldnt advise anyone to do so or even bring it up such a suggestion. What you had to misplace the drive or perhaps it got damaged by fall or accident. How would you pass it on to your heirs?

Please re-read what I write, I still store all the seed phrases, private keys, and passwords in my notebook. I also understand the risks of electronic devices, I do not trust them completely.

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[EarnOnVictor]

This thought have been bothering me for a while and I feel we can discuss it here. Many people that are building their Bitcoin portfolio are doing it to also save for the coming generation. However, how this wealth will be transferred to the heirs and the next generation and how this wealth will be preserved without being lost or causing problems still remain unclear.

I understand for other tangible assets, a WILL can be written to be revealed when the time is right. But for Bitcoin, I don't know how this can be done as it may require revealing the secrete codes of the wallets or storage device. Is there any other way this can be done?

My thought was captured in my comment in this thread but I felt to raise a topic for most discussion. In case this topic have been discussed, I will be glad to be pointed to the thread.

You have highlighted an important and complex concern regarding seamless transfer and preservation of Bitcoin wealth to the next generations. I think Bitcoin indeed stands out as a promising asset to pass down to our successors. One approach could be to utilize  multi-signature wallets, that require multiple private keys and digital wallets. This procedure involves two or three wallets and private keys to authorize transactions.

I think that's a good suggestion just like the mixin safe wallet currently tested out here in the community though it's a beta version but the idea is very unique in terms of passing out bitcoin to the next because the access to send coins will be fixed to as many that will be involved in the inheritance of the coin(bitcoin).  But on still as there is advantage to this means there are still disadvantages to it too.

Any right sensed and a futuristic person would have thought of this, talkless of the fact that many people had died and have lost their coins to both custodial and non-custodial arrangements. People don't plan for death, which is why many didn't prepare before it happened, and by virtue of this, they lost painfully what their heir or family should have been enjoying. This is one of the greatest disadvantages of having money/assets online, yet we could guard against this if we are reasonable and proactive enough. This is why it's good to plan ahead and I've already started mine, but a huge downside of it is how trusting your children or spouse are, if they are not trustworthy, then it will be more difficult to do.

Regardless, the best plan that came to my mind is to document everything with your lawyer but how to gain access should be given to your children or spouse for safekeeping. By this, they will not know what the passes are meant for, while the lawyer will not know the passes to your online wallets. Also with this arrangement, it's good that your will lawyer should never be known to your family for any reason and must be a trusted law firm. You might even code what you gave to the lawyer and let it be the kind of code/puzzle that you and your family are familiar with. This is one of the good ways online assets would not be lost.

But for the Mixin Safe idea you talked about, I advise you to do away with it or similar arrangements, you can't trust those people. When they tell you it's blue, it might actually be back. Many of them are hiding under decentralization but how could a true decentralized arrangement be able to pass your asset to your heir? That is laughable.

[JoyMarsha]

You just said a will can be written, WILL contains everything you have, properties, money and so on, if money can be included why not Bitcoin? Anything can be WILL to your offspring.

Yeah, anything can be WILL to your offspring, but adding bitcoin demands that you have a certain degree of trust and understanding with the lawyer managing your WILL
Your bitcoin assets are under the jurisdiction of anyone who knows your bitcoin wallet's seed phrase. Anytime he wants, he may exchange it.

What I would do if I were to include bitcoin to the WILL of my offspring, is to purchase a hardware wallet, give it to the lawyer, and give my children access to the hardware wallet's password. My children should meet the lawyer whenever I am no longer alive because I will specify in the WILL how the bitcoin in the hardware wallet is to be shared

You would be making a mistake if I'm your lawyer I just steal a little of that BTC wealth of yours . For me lawyers ia a no no ill just pass my private diary of to him or I'll just whisper my private key to him with in my dying  breath  

How will it be possible for the lawyer you hand over your hardware wallet without the password still little of your bitcoin assets, when it is stated in the WILL the amount of the bitcoin that will be in the hardware wallet given to him? If peradventure he succeeds in doing that(not that is possible), he has destroyed his career and he will persecuted for that.

You are just been funny thinking of passing your private key to a lawyer. Who does that sh*t? You better come off that sh*t in your head that lawyers can still your bitcoin without the password. That can't happen.

Let it be known to you that a hardware wallet is not something that one can hack into without having the correct password.

[red4slash]

That's one option that can be done but like you said not everyone can accept that as a safe way including me because I still feel that storing in a USB sometimes we have to prepare for the worst where it could be corrupted which makes the data lost so even though it can be done but there must be a backup of the seed that we created.
I personally still like the old-fashioned way where I still write in my notebook and store it in a place that only I can access it (At least for now) but I have told my closest family about my bitcoin storage just for access I still hold back on it and it's enough just for myself for now.

You make some good points red4slash, but I still feel like I need to repeat some of my concerns about the notebook being a potential single point of failure, which may be lessened by maintaining more than one notebook with the same contents, and yeah, I know that is likely a pain in the ass, but you could also have three with one off site that you do not update as much, but you would still have some active and latest updates in the two main ones.

Your point about the electronic device being problematic does en up getting somewhat addressed by having the backup keys.. to make it less vulnerable if it were handed down by itself without the seeds or whatever technology that wallet is using for its backups.

That's still a good option and indeed for now I always record more than one seed because as you said there are some things that might be the worst that could happen if I only copy one.
Although there may still be some people who do just one and memorise the seed but that's another option.
A device like a flashdisk is also possible but in the end I wouldn't choose this option to do because in some conditions I have experienced where I saved it on one of the flashdisks but when the flashdisk is not used for a long time then it is indeed possible that corruption occurs rather than me having to plug and use with conditions that we don't know if there is malware or not it is better for me not to use this option.

That's one option that can be done but like you said not everyone can accept that as a safe way including me because I still feel that storing in a USB sometimes we have to prepare for the worst where it could be corrupted which makes the data lost so even though it can be done but there must be a backup of the seed that we created.
I personally still like the old-fashioned way where I still write in my notebook and store it in a place that only I can access it (At least for now) but I have told my closest family about my bitcoin storage just for access I still hold back on it and it's enough just for myself for now.

You didn't read carefully what I said, mate. I write all the information in my notebook and keep it in a safe place, and the USB is just my backup. And as I mentioned, electronic equipment has a lifespan and needs to be checked periodically and if it is too old or damaged we can replace it immediately.

I read that mate and don't get me wrong because I've also done that option before but when there are some conditions that I said in my writing before this I prefer to avoid that because at the end of the day it's just going to be your backup about the seed that you wrote in the notes right?
I'd rather go for the traditional option of backing up my notes than storing them on a flashdrive but what you're saying isn't wrong either because you're doing a good thing by looking for multiple options with your backups.
At the end of the day it's just about going back to your own choices.

[goldkingcoiner]

This thought have been bothering me for a while and I feel we can discuss it here. Many people that are building their Bitcoin portfolio are doing it to also save for the coming generation. However, how this wealth will be transferred to the heirs and the next generation and how this wealth will be preserved without being lost or causing problems still remain unclear.

I understand for other tangible assets, a WILL can be written to be revealed when the time is right. But for Bitcoin, I don't know how this can be done as it may require revealing the secrete codes of the wallets or storage device. Is there any other way this can be done?

My thought was captured in my comment in this thread but I felt to raise a topic for most discussion. In case this topic have been discussed, I will be glad to be pointed to the thread.

I think that the idea of Bitcoin is that over time, more and more BTC gets lost, forever unable to be claimed. In a sort of way this is a deflation mechanism which boost the value of the other Bitcoin in circulation due to the fact that the Bitcoin supply decreases more and more over time. So everyone else's coins go up in value and this is a good thing. I personally hate the idea of heritage. It has caused a lot of problems in the fiat world and we can see this with all the disgusting billionaire hoarders. Why the hell should anyone get money that they never earned? Do we need more Rockefellers? More ultra-rich, corrupting the world, financing both sides of each war? Screw that. A person should get what they earn in their lifetime, no more and no less.

[BigBos]

Coincidentally, I am also using this method. While I know this isn't the safest solution for many people, it's the safest for me and I haven't had any problems in years. I also record information such as seed phrase, password, private key...in the notebook. But that is really dangerous because the paper is quite fragile and easily destroyed, I then bought 3 USBs for backup to ensure the safety of my information. Of course, teaching my loved ones how to use them is indispensable. But I want to add a little more about how to store our phrase. We should take the time to check USB periodically because we all know electronic devices have a lifespan and can fail at any time. Periodic inspection and timely replacement are very important.
By the way, I also just tested them and they are ok  .

That's a pretty good way actually because apart from having written notes, we also have a back up in a flashdisk as a backup that you can have when some conditions such as the loss of notes or the dullness of the notes we make we still have that as a backup of our seed.
Regardless of whether this works for everyone or not, the most important thing in this case is that we should do a backup of the seed whether it is in written form or in the form stored in a flashdrive like you did because at the end of the day this is also important.
We want security in maintaining the assets that we have both in writing and storing in a flashdisk has weaknesses such as fading or illegibility of the writing that we make or a flashdisk that may become damaged but if we have a backup and do not make one then this is a good thing because if one is lost then we still have a backup that can be used as a precaution so that our seeds are not lost and our wallet can still be accessed.

[JayJuanGee]

[edited out]

That's still a good option and indeed for now I always record more than one seed because as you said there are some things that might be the worst that could happen if I only copy one.
Although there may still be some people who do just one and memorise the seed but that's another option.

Memorizing, as a back up, sounds scary, even if it might not be the ONLY place that the wallet is kept - even though I could appreciate that memorizing (and writing down) could come in handy when crossing over a boarder because it may well be a short time before it is going to be fed back into some kind of a wallet device.

long term memorizing as a back up could also be problematic in terms of someone hypnotizing you, to the extent that any of us believe that hypnotism is real.

A device like a flashdisk is also possible but in the end I wouldn't choose this option to do because in some conditions I have experienced where I saved it on one of the flashdisks but when the flashdisk is not used for a long time then it is indeed possible that corruption occurs rather than me having to plug and use with conditions that we don't know if there is malware or not it is better for me not to use this option.

Sure.. there are some kinds of electronic saving that is more reliable than others, and for shorter time frames, none of them would necessarily be bad, but I think in these kinds of inheritance cases we are talking about some kind of a longer term storage.. and/or at least having potentials for longer term, even though the circumstances regarding how long some keys might be stored prior to the heirs trying to access them is likely going to have quite a bit of variance, even if future deceased bitcoin holder might well be checking and verifying access to the electronic devices 1-3 times per year.. depending on level of analness.

[edited out]

I think that the idea of Bitcoin is that over time, more and more BTC gets lost, forever unable to be claimed. In a sort of way this is a deflation mechanism which boost the value of the other Bitcoin in circulation due to the fact that the Bitcoin supply decreases more and more over time. So everyone else's coins go up in value and this is a good thing. I personally hate the idea of heritage. It has caused a lot of problems in the fiat world and we can see this with all the disgusting billionaire hoarders. Why the hell should anyone get money that they never earned? Do we need more Rockefellers? More ultra-rich, corrupting the world, financing both sides of each war? Screw that. A person should get what they earn in their lifetime, no more and no less.

That's a bit harsh.

But, hey you are entitled to your own opinion, even if you might be bitter about a "few" things.

 

I suppose in spite of my trying to be funny, you are making some valid points regarding some of the disproportionate inequalities that come from incumbent rich folks... yet I have my doubts that the solution should go as far as you are suggesting in terms of causing inabilities for the passing down of wealth, and there likely are some families who are ONLY able to get ahead in some kind of a degree based on the efforts of several generations building and building and building (at least the responsible heirs, which the may well be some of those kinds of folks in this world, even if you are suggesting that they are a minority and the inheritance system is mostly a tool of the rich and powerful who don't deserve it).

By the way, remember that 80x trade that you made?

Are you merely bitter because you already spent all of your "profits" from that?

Inquiring minds want to know.


Pray tell!!!!!   

[Nwada001]

sometimes is also good saving a screenshot of your Bitcoin phrase and sending a copy to your wife as a back up plan.

Do you know the reason why most wallets disable mobile screen recording and screenshots from their wallets? This is because it's considered risky, as your mobile phone is not your private phone, you can't guarantee not sharing the phone with anyone on one to two occasions, and you can't also be sure of which third-party apps have access to your wallet.

It's considered very risky, mate. Instead of taking screenshots of the wallet phrase, why not make use of any piece of paper, write down the phrase, and safely give it to your spouse if you may? And if you are not close with each other, you can also use any encrypted message method to send it across to her where she will be the only one to have access to it, or better yet, you can make use of PDF and include an access pin to it where the one with the pin can alone be the one to open it, and then you still make use of any encrypted mailing means to send it across rather than taking a screenshot and sending it through, which means, if I may ask.

[yazher]

As we are protecting our bitcoins today, there's no tendency that we would be protecting it forever and also ripe the benefits of it in the end. so it's better to have someone whom you can rely on and trust for whatever will happen to you, he or she will inherit your crypto assets and will have easy access to them once you are gone. But this is not an easy task because there are lots of people out there whom we know but don't earn our trust. that's why you need to be careful even when you talk about your crypto wealth because if not, you might go in an expected way. you know what I mean right? In that case, I know something called delay email or delay text message or chat message where it automatically sends whenever you are not around anymore probably in 6 months. you can try from that and it might work for you I guess.

[Agbamoni]

sometimes is also good saving a screenshot of your Bitcoin phrase and sending a copy to your wife as a back up plan.

It's considered very risky, mate.

Buddy your right and I think if he had eventually tried this act then his bitcoin phrase has been compromised. I would recommend he start over with a brand new seed and send his bitcoin over there if he really cares about his portfolio or passing it to his next generation. These mistakes are exactly how fraudsters steal bitcoin. Then are left with nothing and no idea how it happened, blaming their wife for their own mistakes because they didn't take this seriously.

Maybe if he uses the Trezor wallet, he can use a unique feature called the "advanced recovery phrase." This lets him add his own secret words to his recovery phrase. This means he can keep his recovery code even safer. Even if someone finds it, they can't get to his coins because they won't know his special words.

[Strongkored]

sometimes is also good saving a screenshot of your Bitcoin phrase and sending a copy to your wife as a back up plan.

Do you know the reason why most wallets disable mobile screen recording and screenshots from their wallets? This is because it's considered risky, as your mobile phone is not your private phone, you can't guarantee not sharing the phone with anyone on one to two occasions, and you can't also be sure of which third-party apps have access to your wallet.

Many people just want a shortcut and taking a screenshot is one of the shortcuts because they only need to swap the screen of the device and it's done but don't realize it's a mistake because of minimal knowledge and think all the available features can be used to make life easier.

If we want to become Bitcoin as an inheritance then teaching it to the person who will receive the inheritance is the easiest way but not giving it access to our wallet because we still keep all information confidential with high security, and those who receive the inheritance will only get access to it after we die by telling it in the will where we keep all these important things.

[Sebas.tian]

Since you know when someone write a will ahead of his or her properties and how the things will be share among his or her children with the witness of his or her lawyer and some of the family members who will testify in case any issues occur in the future is called will. If you want your children to know more about Bitcoin in your home, don't write your seeds phrase on your phone or dairy because it will be easy for them to have access to your Bitcoin when you are still alive. The best way to transfer Bitcoin wealth to your generation is to impact them with the knowledge of Bitcoin so that when you fulfill your days on earth and you are about to die then you can share your Bitcoin among your children to allow peace to rain when you are gone.

[Blitzboy]

sometimes is also good saving a screenshot of your Bitcoin phrase and sending a copy to your wife as a back up plan.

Do you know the reason why most wallets disable mobile screen recording and screenshots from their wallets? This is because it's considered risky, as your mobile phone is not your private phone, you can't guarantee not sharing the phone with anyone on one to two occasions, and you can't also be sure of which third-party apps have access to your wallet.

It's considered very risky, mate. Instead of taking screenshots of the wallet phrase, why not make use of any piece of paper, write down the phrase, and safely give it to your spouse if you may? And if you are not close with each other, you can also use any encrypted message method to send it across to her where she will be the only one to have access to it, or better yet, you can make use of PDF and include an access pin to it where the one with the pin can alone be the one to open it, and then you still make use of any encrypted mailing means to send it across rather than taking a screenshot and sending it through, which means, if I may ask.

The cautious principle works well here. Wallet security is crucial. Its no surprise wallets dont allow screen recordings or screenshots. Our valuable digital assets are protected this way. Even while mobile phones are everywhere, they have become complicated networks of shared information and security risks.

Your notion to write critical wallet phrases on old-fashioned paper is like how people used to store valuables: carefully. As we enter the wild new world of cryptocurrency, traditional security recommendations and new digital ways will aid us.

Sending sensitive information encrypted? Bringing the best of old and new together! A PDF that requires a PIN? The best! Thats an illustration of how fresh ideas dont need to be spectacular to work. Because of our shared human experience, security rules remain the same in the digital age. Save those digital gems!

[DaNNy001]

sometimes is also good saving a screenshot of your Bitcoin phrase and sending a copy to your wife as a back up plan.

Do you know the reason why most wallets disable mobile screen recording and screenshots from their wallets? This is because it's considered risky, as your mobile phone is not your private phone, you can't guarantee not sharing the phone with anyone on one to two occasions, and you can't also be sure of which third-party apps have access to your wallet.

It's considered very risky, mate. Instead of taking screenshots of the wallet phrase, why not make use of any piece of paper, write down the phrase, and safely give it to your spouse if you may? And if you are not close with each other, you can also use any encrypted message method to send it across to her where she will be the only one to have access to it, or better yet, you can make use of PDF and include an access pin to it where the one with the pin can alone be the one to open it, and then you still make use of any encrypted mailing means to send it across rather than taking a screenshot and sending it through, which means, if I may ask.

Yeah that's true, most wallet disable screenshot of your seed phrase because obviously they know the risk behind it, like you said your phone isn't all that personal and since you can for some reasons kinda give it someone who maybe needs to collect some kind of file from it, for example even your kids, siblings can make use of your mobile and by mistake exposing your seed phrase to eye which are not supposed to view and by so tempering with the access to your wallet. We must understand that our seed phrase is way more important than even the pin to your bank apps because you can recover those very easily but your phrase is something else except only you have it backed up but even at that can still lose your coins if it seen by the wrong eyes

[Lanatsa]

sometimes is also good saving a screenshot of your Bitcoin phrase and sending a copy to your wife as a back up plan.

Do you know the reason why most wallets disable mobile screen recording and screenshots from their wallets? This is because it's considered risky, as your mobile phone is not your private phone, you can't guarantee not sharing the phone with anyone on one to two occasions, and you can't also be sure of which third-party apps have access to your wallet.

It's considered very risky, mate. Instead of taking screenshots of the wallet phrase, why not make use of any piece of paper, write down the phrase, and safely give it to your spouse if you may? And if you are not close with each other, you can also use any encrypted message method to send it across to her where she will be the only one to have access to it, or better yet, you can make use of PDF and include an access pin to it where the one with the pin can alone be the one to open it, and then you still make use of any encrypted mailing means to send it across rather than taking a screenshot and sending it through, which means, if I may ask.

Yeah that's true, most wallet disable screenshot of your seed phrase because obviously they know the risk behind it, like you said your phone isn't all that personal and since you can for some reasons kinda give it someone who maybe needs to collect some kind of file from it, for example even your kids, siblings can make use of your mobile and by mistake exposing your seed phrase to eye which are not supposed to view and by so tempering with the access to your wallet. We must understand that our seed phrase is way more important than even the pin to your bank apps because you can recover those very easily but your phrase is something else except only you have it backed up but even at that can still lose your coins if it seen by the wrong eyes

Basing up on my real experience when it comes on screenshoting some private keys Ex. Electrum, there's no way that you could really be able to do that on which there's no way that you can able to ss out.
I thought that there's something wrong with my phone which it cant make out some screenshot but to know that it was indeed a feature on which you cant really be able to do so. Its true that its not that ideal on storing up those keys or images on your mobile phone and it should really be that private as much as possible or away from other peoples awareness.You would really be putting yourself at huge trouble
once those keys would really be exposed. This is why storing them would be your outmost priority specially if it does contain your crypto savings or investment which would really be intend and saved up
for your future and with your family. Giving out inheritance then teaching them would be the key, you could store up those keys on a flashdrive or putting it on a will so that on the time comes
that you do pass away then they do at least know on how to access those coins for them to make use of it and wont really be putting up your hard work to waste.

[Nwada001]

I keep my coins on Ownr wallet and my partner knows all. And I have speciall things for passwords and so on

Someone asked, "What's the point of getting married to her if you don't trust her? Let's put trust aside. What we are talking about here is finance, and not just any kind of money; this is digital, where there is no name attached to a receiver's wallet unless the person makes it otherwise. So I would not advise you to share your entire wallet access with your wife (that's your decision, by the way, and I respect it), especially when you are still accumulating.

Instead, you can send a few of the coins or half of them to the wallet, where she can have control over them in an emergency. This is to avoid some kind of complications coming afterward in the family in cases of missing funds. If anything happens to the wallet out of the carelessness of either of you, you being the husband, who will you suspect first of moving the funds in the wallet? If we are to be realistic here, anyone who has access to our wallet that we are aware of becomes our number one suspect in cases of missing funds, no matter what relationships or connections we have with the person, unless the case is proven otherwise and the person in question is cleared of any guilt. So I will advise you to add a little security to the sharing of wallet access with your wife, as there are other better ways of doing it.

[Forever101]

I have read through many comments. Someone talked about
✅paper wallet,
✅Keeping a hard wallet with a lawyer and giving access to children after their departure to the land of the silent.
✅Another person also suggested teaching their wife's the know-how.
✅And many more suggestions, this suggestions are good but here are my view on each of them.

👉If a paper wallet is used with reference to a particular block when the bitcoins becomes accessible, my question is that, what happens in a situation where flood swept all the papers, or destroy them totally. If the papers are also kept with a lawyer, what happens if the lawyer pass the paper to their offspring before their death.

👉In the case of teaching the wife the know how of bitcoins is good but many have raised a concern about trust issues, if one have fear of trust on this particular case, then making it known to the wife becomes an unrealistic adventure.
Involving a third party can also open investors to hackers

 👉Having argue on some of this point, as privacy is topmost priority of an investor, it is very obvious that privacy is no longer existing  for user to transfer their asset to offspring since they will involve third person  . The best practice is to share the bitcoins to everyones wallet if they are of age and can manage what they have or make it known to the wife. of what value is it if you have the fear  of loosing all to your wife or lost everything to the air without anyone benefiting.
👉This very topic is serious and I will suggest that, there should be diversification so that bitcoins will not be the only way out in case this leads to family conflict or lost of bitcoins.

[JayJuanGee]

I keep my coins on Ownr wallet and my partner knows all. And I have speciall things for passwords and so on

Someone asked, "What's the point of getting married to her if you don't trust her? Let's put trust aside. What we are talking about here is finance, and not just any kind of money; this is digital, where there is no name attached to a receiver's wallet unless the person makes it otherwise. So I would not advise you to share your entire wallet access with your wife (that's your decision, by the way, and I respect it), especially when you are still accumulating.

Instead, you can send a few of the coins or half of them to the wallet, where she can have control over them in an emergency. This is to avoid some kind of complications coming afterward in the family in cases of missing funds. If anything happens to the wallet out of the carelessness of either of you, you being the husband, who will you suspect first of moving the funds in the wallet? If we are to be realistic here, anyone who has access to our wallet that we are aware of becomes our number one suspect in cases of missing funds, no matter what relationships or connections we have with the person, unless the case is proven otherwise and the person in question is cleared of any guilt. So I will advise you to add a little security to the sharing of wallet access with your wife, as there are other better ways of doing it.

You present quite a bit of a dilemma Nwada001 because there can be a lot of variance in regards to the extent that couples might agree to having separate funds. or maybe the separate funds are known.. so there could be separate funds and joint funds, but then again, secrets can always be kept in regards to funds, so it could be a matter of degree how much secret is allowed (or even ends up happening) within any relationships.. whether spoken agreement or unspoken agreement... or if they are just lazy in respect to private matters of the other.

One possible way of dealing with a situation in which the partner wants to keep secrets, but also to share might be to have several different secret phrases on a Trezor, and the spouse may already be used to using the trezor and the secret phrases and also know the seed words for the back up, but that she might not realize that the secretive spouse has another wallet that can be accessed through the Trezor and then the secret spouse would pass that down upon his/her death by somehow making sure that the secret password is communicated after death, and that could even be in a sealed envelop in a lawyers office, but he lawyer would not be able to access the wallet without the seed or even known other aspects of the wallet.. so the information in the envelop might even say that this is ONLY intended for my wife after my death and the lawyer would not even be permitted to open it... but another aspect would be if the wife died simultaneously or before the instructions were corrected, then there should be a back up plan of some other heirs or otherwise maybe no one ends up being able to get access to those funds.

👉This very topic is serious and I will suggest that, there should be diversification so that bitcoins will not be the only way out in case this leads to family conflict or lost of bitcoins.

If we are talking about ways to pass down our bitcoin, that does not even come close to any kind of presumption that bitcoin is the ONLY assets that anyone has that is worthy of passing down.

We could be talking about $100 worth of bitcoin $1million or some other amount, but the fact that we are focusing our discussion on bitcoin does not even come close to implying that bitcoin is the ONLY thing that we have - even if there might be some discussions/mentions regarding how bitcoin (as an asset class) differs from more traditional asset classes that likely have more of a physical component.. but even bitcoin might not be the ONLY kind of digital asset that someone holds that are of value, and not even necessarily referring to shitcoins because there could be other digital information that people hold that are valuable and/or in need of being passed down.. but even some of those kinds of digital assets might not have the same kinds of cryptographic natures or even the kind of transactional value that bitcoin has in terms of bitcoin would be valuable to anyone once they get ahold of it, they might end up spending it  or storing it away from themselves without necessarily being traceable or recoverable in terms of their likely moving it to new keys if they are able to breach the earlier keys.

[Macoach]

It's cool that Bitcoin can be passed down like an inheritance. But it's not as easy as it seems. It's something to think about, even though it might seem like bad news. I understand that I didn't know what would occur with my small but growing Bitcoin savings if I died suddenly. This is a topic where we should face reality and find a solution. People who are new to Bitcoin might not be thinking about what could occur to their Bitcoin if they were to pass away unexpectedly.

I have read through many comments. Someone talked about
✅paper wallet,
✅Keeping a hard wallet with a lawyer and giving access to children after their departure to the land of the silent.
✅Another person also suggested teaching their wife's the know-how.
✅And many more suggestions, this suggestions are good but here are my view on each of them.

Oh, wouldn't it be cool if a big platform added a time capsule thing? I could put away some crypto that I can't touch until a certain date. And then I could even send this capsule to someone.I could also create wallets and keys for my kids, but they wouldn't be able to use the crypto until they're 18. Haha, it'd be neat if I could give them a certain amount of Bitcoin for their birthdays every year for 30 years.

I believe we shouldn't just figure out how to give it to our kids or future generations, but also show them how to use Bitcoin properly so they can handle it well after we're no longer around.

 

[Fuso.hp]

The saying we grew up with as kids is that it's harder to protect freedom than it is to gain it, the same applies to Bitcoin. You have money so you can easily buy bitcoins but later on it will be a tough challenge for you to protect bitcoins. At the moment you are buying bitcoins you may be someone's child but after few years you will be a father so from then you will be thinking about how to leave my bitcoins to my next generation or loved ones. If your next generation doesn't know about Bitcoin then they won't understand the true value of Bitcoin so first you need to make the next generation much more experienced about Bitcoin. If the next generation or loved one can be made more experienced with Bitcoin and later share your account information with them then surely Bitcoin will reach your next generation or your loved one in your absence.