Make sure you have a contingency plan for your assets

[NotATether]

I disagree with you on this. I know it's risky for one to trust the next person when it comes to what has to do with money, but then again, if you don't trust anybody, do you even trust yourself? And if you are a married person, you, as the husband or wife of you, don't trust your spouse enough.
 
Why get married to them in the first place? To some extent, we need to take the risk of trusting one or two of our family members. Besides, all those wealths that you are indirectly making are supposed to be for the family, so what's the point of totally blacking them out?

Woah there, we are getting too meta.

I'm pretty sure I have no problems trusting myself either, he's talking about immediate family who you can't choose who you get. I wouldn't be leaving any seeds for my own folks either at this rate - they'd just squander it.

[Reatim]

I have spoken on this subject in the past but it feels more real than it ever has since my dad just had a major brain stroke on Friday. I can see my mom is very unsure of how to manage the financials and it’s a very tricky spot to navigate with my dad only being able to spit out a few words at a time, I am hopeful for a full recovery.

First of all I am sending prayers to the recovery of your father and I am sending support to the rest of your family as well. Second, I am glad that you seem to have some idea about crypto already but in some families not everyone would be so familiar. I would recommend anyone with valuable assets that need maintaining to appoint a legal or professional advisor to handle all of it. Sure a family member would be trusted but would they be of any good in handling these finances?

I have my flight booked and I’ll be there in a few days to help with everything but now more so than ever if you haven’t taken the time to fill in your significant other or trusted family member what to do in the event of something like this happening then you need to make sure that is in place not only for all your crypto assets but physical and anything you can pass on.

Like I said your father is lucky that you can help but not everyone would be able to understand and do a good job of maintaining one’s assets especially in an industry like crypto. Especially if your loved one is not tech savvy, teaching them might just a bit fruitless. So for me a trusted advisor would be the ideal scenario but I would still make sure that my partner or any loved one knows at least my assets and can check if there’s any suspicious behavior from my advisor.

[Outhue]

I have spoken on this subject in the past but it feels more real than it ever has since my dad just had a major brain stroke on Friday. I can see my mom is very unsure of how to manage the financials and it’s a very tricky spot to navigate with my dad only being able to spit out a few words at a time, I am hopeful for a full recovery. My dad is getting better by the day which is good but it’s a long road to recovery. My family can tell that he is worried about his assets and he has made attempts to tell my mother and brothers what to do, we believe he was trading all his coins into a volatile crypto right now and want to help him stabilize that. I have my flight booked and I’ll be there in a few days to help with everything but now more so than ever if you haven’t taken the time to fill in your significant other or trusted family member what to do in the event of something like this happening then you need to make sure that is in place not only for all your crypto assets but physical and anything you can pass on. We are not promised tomorrow, I am thankful my dad is alright. I believe he will recover. If you can please send prayers for him and my family 🙏

Make sure you have a plan in place so your loved ones are set up for success and never be in this type of situation.

The Lord is your father's strength, I pray he gets better in no time.

If you don't want to be bothered about your father taking risks on risky assets then help him convert the coins back to Bitcoin, unless you are very good just like your father when it comes to handling risky assets, I think you should be though because you are not a newbie on this forum.

I don't have to worry about what will happen to my crypto asset if something unexpected happens, my other half knows what to do and we have discussed this so many times already, I know how serious it is when it comes to life-threatening situations, we are not promised tomorrow like you said so we must always be prepared for any possibility.

I am very sure that many people choose crypto investment because of its hidden nature, where I come from there are many family feuds and trust issues everywhere, some people won't even dare to leave valuable things in the reach of their families, having valuable crypto is like knowing you are worth millions without anyone knowing.

[Dave1]

Make sure you have a plan in place so your loved ones are set up for success and never be in this type of situation.

I'm sorry to hear that mate, and I do agree, we should be prepared for anything that comes into our lives and the only thing that we can do is to pray that something bad will not happen to us as we could be thinking that there are still a lot of things that we can do specially if our children our very small and going to school.

However, it's really hard to at least have some contingency money at hand or if we really have said enough for us and for the future of our children. As far as crypto goes, it could be one invested that we are holding for now as it could give us a good profit that can still provide us in the future.

Prayers to you and your family at this time and hopefully he can recover.

[fuguebtc]

I disagree with you on this. I know it's risky for one to trust the next person when it comes to what has to do with money, but then again, if you don't trust anybody, do you even trust yourself? And if you are a married person, you, as the husband or wife of you, don't trust your spouse enough.
 
Why get married to them in the first place? To some extent, we need to take the risk of trusting one or two of our family members. Besides, all those wealths that you are indirectly making are supposed to be for the family, so what's the point of totally blacking them out?

It's his choice and he's happy with it so we don't need to argue with them anymore because it won't change anything . Even the love of loved ones can't change their minds , so is the advice of strangers worth listening to?


If he can't even trust the one who gave birth to him , then there's no one else worth his trust . I bet he never wondered why he wouldn't be alive today without his mother .

I also wouldn't be surprised if he gets married later and his kids treat him the same way he treats his mother .  This world is very fair, how we treat others ,  we will receive the same in return.

[Tmoonz]

I'm so sorry for the situation of your dad and I sincerelity hope he recover fully.  Many threads have been created on how to transfer Bitcoin wealth to heirs and I will encourage people to take those wonderful suggestions seriously because no one is immortal. Within one's family, there should be someone trusted that should know all we do even though you you will not grant them access to everything just yet. Any of the methods suggested on how to transfer assets to heirs can be used buy there should be someone that is aware of our business.

Surely, it can be very bad in most cases that among any of our family members we could not be able to find anyone worthy enough to be trusted, this issue has been bothering me alot but however, my advice is that among our family members(especially blood relatives) we should be able to least fine that very one person that we can at least have a certain level of trust in then and disclose certain things to then when we have all the time and energy to do that, well i wish his dad quick recovery so he can do the needful before it gets late, i also urge others to learn from other people mistakes as to this regards.

[Skfox]

Sorry Op for your dad's health condition, i wish him speedy recovery.

Trusting someone or family member with your assets isn't a bad idea but before doing so, there are lots of things to consider.
Anyone can change anytime because he or she is a human, the person you may entrust with your assets may wake up one day with another  motive or thinking to use up your funds either for himself or for the family without thinking or acquiring for the best way it should be used because he does not know the value niether did he work for it. Sometimes due to insufficient knowledge your funds can be misused or they can fall prey to scammers.

In my words, its better you manage your assets by yourself, no one can handle your assets better than you because you know what it's takes to make money but if you feel trusting someone with it is better than that't fine as well.

[dificanovi]

Making a will for the family is very important because we do not know what will happen in the future. Now we are still healthy but no one can guarantee that we will still be healthy tomorrow, therefore I have given a will about all the digital assets and physical assets that I have to my beloved wife. If something bad happens to me, I hope my wife can use all the assets that I have as best as possible. Currently I have no fear or doubt about losing all the assets that I have because my wife already has all the private keys to my cryptocurrency wallet.

[Dailyscript]

I'm so sorry for the situation of your dad and I sincerelity hope he recover fully.  Many threads have been created on how to transfer Bitcoin wealth to heirs and I will encourage people to take those wonderful suggestions seriously because no one is immortal. Within one's family, there should be someone trusted that should know all we do even though you you will not grant them access to everything just yet. Any of the methods suggested on how to transfer assets to heirs can be used buy there should be someone that is aware of our business.

Surely, it can be very bad in most cases that among any of our family members we could not be able to find anyone worthy enough to be trusted, this issue has been bothering me alot but however, my advice is that among our family members(especially blood relatives) we should be able to least fine that very one person that we can at least have a certain level of trust in then and disclose certain things to then when we have all the time and energy to do that, well i wish his dad quick recovery so he can do the needful before it gets late, i also urge others to learn from other people mistakes as to this regards.

If there isn't anyone to trust with your investment then have a good partner that you can entrust things to for your children. Life these days even your blood can turn against your bidding and wishes when you depart. I have also heard stories of lawyers ganging u with suicide squads to wipe out everyone in the family of the deceased. I think when entrusting your investment to anyone do not mention the amount that is involved to anyone. It should be on the document only so that it wont trigger anyone with the wrong motives and bad intentions to plan evil ahead against others.

[m2017]

There are 2 problems related to finances: how to save and how to preserve. Methods of saving (and transferring to heirs or trusted persons) are related to having a plan of action for unforeseen circumstances. Life is unpredictable and it is impossible to foresee everything in advance. This is a fact. The question of who to trust with the management of your crypto assets is especially acute, because most crypto investors are at that age (middle-aged people) when children are still too young for this and more likely trusted persons may be spouses or close relatives (in some cases, friends). We are not talking about inheritance, but for the period while health and capacity are restored, as in the story with OP's father.

Initially, it would not hurt to include in this topic a vote "are you, already have a plan of action for unforeseen circumstances?" and "to whom of your close people are you ready to trust (temporarily) with the management of your finances?""

In pursuit of financial assets, one should not forget about the social (asset).

[South Park]

I have spoken on this subject in the past but it feels more real than it ever has since my dad just had a major brain stroke on Friday. I can see my mom is very unsure of how to manage the financials and it’s a very tricky spot to navigate with my dad only being able to spit out a few words at a time, I am hopeful for a full recovery. My dad is getting better by the day which is good but it’s a long road to recovery. My family can tell that he is worried about his assets and he has made attempts to tell my mother and brothers what to do, we believe he was trading all his coins into a volatile crypto right now and want to help him stabilize that. I have my flight booked and I’ll be there in a few days to help with everything but now more so than ever if you haven’t taken the time to fill in your significant other or trusted family member what to do in the event of something like this happening then you need to make sure that is in place not only for all your crypto assets but physical and anything you can pass on. We are not promised tomorrow, I am thankful my dad is alright. I believe he will recover. If you can please send prayers for him and my family 🙏

Make sure you have a plan in place so your loved ones are set up for success and never be in this type of situation.

I am sorry to hear that, it is always a very difficult situation when a close family member is going through a disease or condition that severely affects their life, and without a doubt this can put a family into a massive economic stress, years ago I had a health scare and I immediately put everything in order in the case something really bad happened to me, fortunately it was nowhere near as bad as I thought, but since then I have avoided that topic as it is not really something people want to talk about, but I suppose it is time to once again look into it.

[uswa56]

Making a will for the family is very important because we do not know what will happen in the future. Now we are still healthy but no one can guarantee that we will still be healthy tomorrow, therefore I have given a will about all the digital assets and physical assets that I have to my beloved wife. If something bad happens to me, I hope my wife can use all the assets that I have as best as possible. Currently I have no fear or doubt about losing all the assets that I have because my wife already has all the private keys to my cryptocurrency wallet.

Writing a will about the assets that we have, of course, this will be very useful if something happens and other family members can continue to carry out the abandoned investment properly and before all these things happen, you also have to give a good understanding to your family members because without giving them a good understanding of this, of course, the will you leave cannot be used, of course this will be very It is detrimental because you have worked hard to collect but no one can enjoy the results you have collected, so it is very important for anyone who invests in physical or digital form to have someone they can trust and tell them the assets they have collected so that it is not in vain.

[martinex]

If there isn't anyone to trust with your investment then have a good partner that you can entrust things to for your children. Life these days even your blood can turn against your bidding and wishes when you depart. I have also heard stories of lawyers ganging u with suicide squads to wipe out everyone in the family of the deceased. I think when entrusting your investment to anyone do not mention the amount that is involved to anyone. It should be on the document only so that it wont trigger anyone with the wrong motives and bad intentions to plan evil ahead against others.

It sounds very sad if that is the case. Indeed, a person's character will change 1000% if they have mastered it, but if we, the owner, seem to have prepared it all well, it means that we also follow the applicable legal rules in the area where we live, especially in the distribution to the heirs later after death.

Another way is to provide valid documents as evidence later to the party we appoint Through the private key storage service in the crypto exchange with the Shamir Backup method.

[Poker Player]

Estate planning is essential. There are countless stories of economic problems because people do not plan what to do when they die, they do not leave an inheritance or at least a clear one with everything detailed and in the case of crypto assets that you may have and do not want to leave in writing what to do, you must also have a plan to pass them on in case you die.

You simply have to recognize that there will be a day when you will not be in this world, and that your loved ones will be much better off if you leave everything well planned than if apart from mourning your death, they have economic problems.

[jcojci]

If we have something for our family, something worth for them, we must prepare that for our family future so they can use that without having difficulty. We don't want to see their lives in difficult so we can tell them how to use that and continue what we do and they can use that for their own good. Every member of family needs to unity and solve the problem if their family have that so they can do other things to keep survive in the hard things. If we have crypto especially Bitcoin, we can teach them how to use and how to grow it and make sure they can do it with right after we pass away. But that will depend on each people because they must have their plan what they will do with their legacy that they will give to their family member.

[Hamza2424]

May your dad, get well soon, Father is one of the biggest blessings for everyone, pray for them always.

Everyone has to die one, maybe the next day, next month year, But all of our financial struggle as a father, son, and brother is to make a living better, to keep our loved ones safe, to provide a better living standard to those whom we love, in the end, we can't get anything into our grave, so share love be kind to your parents, children. As far as it's concerned with investment and financial decisions, taking risks is good but the risk should be under control, gambling with funds cant help you anyway. Also, share at least all your plans with one person from your family to ensure the reliability for getting emotional support and anything unexpected.

[pawanjain]

I have spoken on this subject in the past but it feels more real than it ever has since my dad just had a major brain stroke on Friday. I can see my mom is very unsure of how to manage the financials and it’s a very tricky spot to navigate with my dad only being able to spit out a few words at a time, I am hopeful for a full recovery. My dad is getting better by the day which is good but it’s a long road to recovery. My family can tell that he is worried about his assets and he has made attempts to tell my mother and brothers what to do, we believe he was trading all his coins into a volatile crypto right now and want to help him stabilize that. I have my flight booked and I’ll be there in a few days to help with everything but now more so than ever if you haven’t taken the time to fill in your significant other or trusted family member what to do in the event of something like this happening then you need to make sure that is in place not only for all your crypto assets but physical and anything you can pass on. We are not promised tomorrow, I am thankful my dad is alright. I believe he will recover. If you can please send prayers for him and my family 🙏

Make sure you have a plan in place so your loved ones are set up for success and never be in this type of situation.

Don't worry your father will recover soon. I pray to god for his earliest recovery and hope he gets well soon.
Coming to the situation, yes, you're right that everyone should have a backup plan just in case of any mishaps.
We should be very careful when we decide whom to tell about our holdings and how to access the funds.
Ther person should be someone whom you can trust blindly because you won't want your closed ones be the reason for your mishap.

[Dr.Bitcoin_Strange]

Apart from having someone that you can tell about your crypto investment or your assets, you can still document everything and keep a trace to whom you want to find your asset when things goes wrong. You must not trust your asset with someone if you don't want because some people can change and turn against you when things goes wrong, so best thing you can do is to document your asset and keep a trace to how it can be access.

You can give half of the information to your wife, another half any of your trusted relatives, another to your trusted siblings and to your kids. It must no actually follow that order but am just using it for example and the essence is for one person not to only have the information and claim it for their self alone.