Who to trust: A lawyer or a family member.

[X-ray]

Just because someone is a lawyer doesn’t automatically make them trustworthy. You still need to carefully select a reliable lawyer, just as you would choose whom to trust within your own family. If you have parents, they’re likely the most trustworthy figures in your life, as they would never betray their children.

Trust should never be given blindly. If you’re holding Bitcoin, the level of authority you grant others should depend on their role. Think of it like running a business,  you may trust your team, but you’d still implement checks and balances for every transaction.

The trust that lawyer have is guaranteed by the system, they can be sued if they engags in misconduct, so there's a way to reverse the damage if the lawyer is doing something funny behind the scene.

So I'd no doubt trust lawyer when it comes to will and anything related, but be sure to have the means to reverse the damage.

Moreover with bitcoin you can always do multisig, lawyer or family member, there's always ways to reduce the risk.

[Iranus]

Yeah, this is definitely true based on many stories and real experiences. When it comes to managing your crypto or financial matters, trusting a professional like a lawyer is often a safer choice than relying on family members, no matter how close or trustworthy they may seem. It's better to secure your assets through proper legal channels than to take risks based purely on personal relationships.

Is the lawyer a third party? When you give your bitcoins to a third party, it means you are no longer safe and it is even riskier when they are not your relatives. After all, they are strangers and we know nothing about them other than that they are lawyers. And as freedomgo said above: just because they are lawyers, doesn't mean they are automatically trustworthy.

Many of us say we don't trust centralized systems, don't trust governments, don't trust banks, and we choose bitcoin to protect our assets from the plunder of centralized systems. But today we rely on a centralized legal system to protect our bitcoins. Does that make sense? 

[RoseAPT]

the answer I don't commonly see on here is one that is probably the best in this situation, which is:

BlockRock

Holding IBIT is way safer than handing over your keys to any individual in your life.

then just add some beneficiaries to your accounts. easy peasy

[EarnOnVictor]

I mentioned the lawyer as an addition to the suggested family members

A lawyer is more professional. They study this matter, so yeah that they are a good addition.

I indeed supported a lawyer as an option in my last reply, but still, we should be careful about lawyers, we have good and bad ones. If lawyers can tell the judge to free a man that he is sure is guilty of a murder, how much more can they lie or play smart on your fortune if you are careless? This is an asset we are talking about, some unscrupulous lawyers may do and undo. This is why a big firm is essential in this regard if you must deal with a lawyer, and not some kind of random Esquire ("Esq.").

[Zanab247]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

Difficult question to answer because being a blood relative or spouse doesn’t mean you are super trustworthy. Many people have been burnt through mistrust of family members. You should look into multisig, that method eliminates the threat of one rogue trustee. 

When you don't trust your family members, then it will be difficult to answer this question. I know my family members very well and I know what they can do after my existence from this earth, because sometimes we know what people can do when we are still alive base some things you have used to tried them in so many ways and they did not break the trust one day.

I agree with you that some people have breaken the trust some people have towards them, that is making them not to trust anyone in their family or someone else than to keep the seeds phrase secret forever from everybody, because they know what will happen when they get access to the seeds phrase.

[madnessteat]

Like it or not, you will have to explain the basics of using Bitcoin to the person you want to leave a bequest in digital gold. Of course, if they are of an age to understand it. Otherwise, you can prepare instructions. I can't say whether I would use a lawyer in this case or organize the transfer of BTC inheritance in some other ways, because I don't have such a task in front of me yet. And each of the possible options has its own risks.

[PrivacyG]

The trust that lawyer have is guaranteed by the system, they can be sued if they engags in misconduct, so there's a way to reverse the damage if the lawyer is doing something funny behind the scene.

Scenario 1.  You teach your family member about your Bitcoin, they end up stealing it, you sue them and hire a good lawyer to win your case.

Scenario 2.  You teach a good lawyer about your Bitcoin, they end up stealing it, you sue them and try to find a better lawyer to win your case.

Which is more likely to end up well for you?  Which is more likely to become a difficult lawsuit?

Hiring a lawyer sounds good, until you realize humans make errors, are sometimes vile and even people you thought were the most trustworthy can end up screwing you over.  Lawyers know ways around laws.  Family members may not.  Sometimes being less knowledgeable is better.  Lawyers may carve the path in a way so they are advantaged by grey areas of the law.  I would not trust a stranger only because they have a lawyer office.

[Apocollapse]

Many of us say we don't trust centralized systems, don't trust governments, don't trust banks, and we choose bitcoin to protect our assets from the plunder of centralized systems. But today we rely on a centralized legal system to protect our bitcoins. Does that make sense? 

If you create a multi sig wallet and you spread the private key to many third parties, it's technically still decentralized. But, if you give the exact seed phrase + passphrase of your wallet to third party, then yeah you ruined the decentralization of Bitcoin.

Although there's a service who offer inheritance plan, it's actually centralized because you have to trust them.

[Koadharber]

The trust that lawyer have is guaranteed by the system, they can be sued if they engags in misconduct, so there's a way to reverse the damage if the lawyer is doing something funny behind the scene.

Scenario 1.  You teach your family member about your Bitcoin, they end up stealing it, you sue them and hire a good lawyer to win your case.

Scenario 2.  You teach a good lawyer about your Bitcoin, they end up stealing it, you sue them and try to find a better lawyer to win your case.

Which is more likely to end up well for you?  Which is more likely to become a difficult lawsuit?

Hiring a lawyer sounds good, until you realize humans make errors, are sometimes vile and even people you thought were the most trustworthy can end up screwing you over.  Lawyers know ways around laws.  Family members may not.  Sometimes being less knowledgeable is better.  Lawyers may carve the path in a way so they are advantaged by grey areas of the law.  I would not trust a stranger only because they have a lawyer office.

When it comes to money then anything could happen on which even your family will be trying out to steal those coins from you without even thinking that you are all doing these things for them and thats why you are trying out to accumulate for it to become bigger or having that good profits. They are the ones who do still benefit out from that but stealing up those coins could definitely happen. Basing up into those scenarios above then dealing up a problem in towards your family will be giving out that kind much more emotional damage since it do involves your loved ones in compared with other people that you are suing. When it comes or in regarding about teaching your family about the basics about crypto and trying out to plan on how they will be able to access these funds once you do pass away.

[BenCodie]

This is actually quite a good debate to have. I suppose, it all depends on the trust level between yourself and your family. If you can trust your family with your life, then you might have confidence in being able to trust them with your Bitcoin. Though I guess, there is no harm in both teaching family member(s) about Bitcoin and creating a contract to bind any agreement about custody? Or even simpler, multiple family members, and a multi-signature wallet?

I do think it depends on the acceptance of your family toward BTC, crypto in general, and to you overall.

It's not that hard to teach your family about the basics that would be needed in the processes we discuss.

Yes acceptance, education, and willingness to learn/to be trusted with this kind of thing. Some family members but feel overwhelmed and may not be willing. Education on this topic is indeed difficult too, though it seems to be improving year on year.

[Orpichukwu]

Blood siblings can break up their relationships for property, and if the Seeds/Phases of the Bitcoin wallet are left between them, they may betray them at some point. It would not be right to trust your own wife in this case because someone can betray a relationship for the sake of Bitcoin.

Trust is built and earned and not just something that happens all of a sudden. Blood relatives can turn against each other for the sake of money, and if we are to put all the things that happen around the world in front, we can never be able to trust even ourselves.

There is no point in getting married to someone you don't trust, but then again, who are those wealth made for if you can't even trust your family with them and they can't access it when you are unreachable?

It's a risk that should be taken but should be reduced to the minimal by either trusting the phrase with your spouse without her knowing what it is and the passkey to someone else who also doesn't know where to get the phrase, and the instructions could then be given to a third party, either an institution, who will then later hand it over to the lawyer who will do proper reading if need be.

[pushups44]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

Establishing a will through a lawyer is generally advisable. From what I've seen, if a will is not properly established, many families will rupture through infighting as family members fight over the assets of the deceased. So it's best to get both the family and a good lawyer involved in a will.

[ChiBitCTy]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

I am assuming you mean in terms of legacy..right? Otherwise I'm not sure this makes any sense.  I've written topics about this and talked about it many times on here, but everyone needs to have a "will" established ( https://www.investopedia.com/terms/w/will.asp ).  Now this is for the US, but I'm sure similar things exist in most countries.  Yes, you have no choice but to trust a good lawyer anyhow.  Most are going to do the right thing.  Not to mention they don't need to be used alone..meaning you can leave a will with them, as well as in bank safety deposit box, burry it and leave a note that you've told all your family to read at your death ( or your lawyer/their firm to read and then send to your family) set up a trust "control from the grave" and on and on... so it all depends.

[DYING_S0UL]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

Remember the old saying, "Blood runs thicker than water". So even if they ends of stealing it, at the end of the day, the funds remained within your own family's reach but not some lawyer or third party associates. This is how I perceive this scenario.

My other question is, do you plan to give your Bitcoin investments to your family members after you pass way? If so but you fear that they might gamble it away, or would use it carelessly then you can try using Bitcoin's timelock feature, where you can specify when a transaction can be spent. And until that time comes, no one will be able to use the funds, even if they steals it.

[Crypto Library]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

I think that when it comes to family bonding, people will make the decision to trust their lawyer instead of trusting their family members.  But if you don't have faith in your family, I think there is no one in the world in a worse situation than that person. So I would say first improve your family relationships. Because in my opinion, most of what we do in the world is for our family members, meaning our future generations.
So, just like in the case of property in the world, I have also made a similar arrangement that my property, that is, my crypto assets, are given to my family members. Although they do not have access to them while I am here, I have told them that you will receive the acceptance of my assets from these places when I am no longer here. Remember, a lawyer is not your that close person, he is only doing your work for the money, and if you give him access to your money, I don't think you will always get good returns.

[Theupdude]

Honestly it depends on the trust and understanding within your family. Teaching a family member about Bitcoin can be powerful especially if they’re receptive to learning and can carry on your wishes but lawyers do have the legal experience and framework needed to handle sensitive topics like inheritance appropriately, I think the optimal method might be a combination. Teach someone you trust in the family about how it works but also have legal backup in place so things are secure and transparent if anything happens.

[AmaGold70]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

You are not really specific in what you mean, teaching your family member about Bitcoin would make them have knowledge about Bitcoin and they would want to invest in it, right? Now teaching a family member about Bitcoin and trusting them with your funds in Bitcoin, which one do you want an answer to? I don't trust any family members with my funds for now but I can teach them about Bitcoin and also Bitcoin is not fiat and I don't trust any lawyer too.

[mirakal]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

If you are a bitcoin investor, you would rather stay anonymous for all your life and invest in bitcoin privately, than share it to your lawyer or even a family member that you think you can’t still trust. However, when it comes to your kids, it’s best to educate them while you are able to and won’t let them become blind on your investment even after you passed away. If you can entrust your bitcoin, chose your kids rather than other family member or strangers, because in the first place, you worked hard to prepare a bright future for your kids or let’s say future kids.

[RGBTC]

If you can entrust your bitcoin, chose your kids rather than other family member or strangers, because in the first place, you worked hard to prepare a bright future for your kids or let’s say future kids.

You shouldn't be too trusting with your kids, the more they grow up, the more they have new thoughts and sometimes contradict you because of the influence of their social environment. Some cases of endless disputes between kids and parents after they reach adulthood. Bitcoin continues to be developed to a level that as much as possible doesn't require anyone's trust (in term of honesty) so that it can reduce the impact of losses from cases like this, one of which is by using the multisig method.

[Powerjumboo]

If you are a single bitcoin investor, would you rather teach a trusted family member about Bitcoin than involve your personal lawyer. I ask this because I grew to understand that lawyers are good at handling confidential issues like Wills.

I always say you should consider people on their individual level and not on the title they carry. Be it a family member or a lawyer, they are all humans and because of your relationship with them you must have observed some personal attributes that will make them trustworthy to safe keep your investment for you in your absence, or not.
Funny enough do you know that some friends can actually be trusted better than family members or lawyers? Some lawyers are criminals hiding behind the law.

I could not agree with you because no matter how close friends are, they can never be like the closest family members like parents and wives. There are many stories involved here who trusted their friends the most and got cheated. Especially with the secrets of Bitcoin, I will not trust any friend, not even my family members. Because it is always better to keep secrets secret.