Plan now, you could die suddenly as an investor.

[Rruchi man]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

[Lida93]

Everyday we learn and relearn.

I think at the moment of starting out to plan on your bitcoin accumulation process, the plan for a next of kin that should inherit your portfolio in case of uncertainty with death should also follow suit. Tomorrow is not promised to anyone but just a hope and that's why I think protecting our investment in a way that it should fall into the right hands should we close our eyes in a flash should also be taking into consideration even as we plan for old age. Better for posterity to reap our efforts than losing it to nowhere.

[Ambatman]

So sorry for your loss. My condolence to the family.
Sadly, Death doesn't really care about age nor if you ready.
I think many people have gone without anybody Knowing about their Bitcoin.
What's the essence of investment if you nor your loved ones can't even enjoy it.
My family do have access to my stash
But hopefully we all get to enjoy our wealth with them.

[coolcoinz]

no investor would want that except they have no family and friends worthy enough for it.

Are there even such people?

If you have no friends, no family and no children, life has screwed you over, or you've done it to yourself. There aren't many people like that, but in such situation maybe there's something you like doing, like caring for a cat or a dog and your savings could guarantee a long and happy life for your pet.
I'm yet to meet someone with nothing to care about.

[Rruchi man]

no investor would want that except they have no family and friends worthy enough for it.

Are there even such people?

Unfortunately, there are individuals in such conditions. Life has not blessed them with the best persons as family, and they have also been unlucky in friendship.

Maybe such persons can pass their bitcoins to charity and helping humanity.

[Davidvictorson]

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

Sorry for your loss. Death is a painful thing especially when it happens to people dear to you. As for the topic of investment and letting others know, I try to look at it from both sides. In as much as I know that I shouldn't trust anyone, my upbringing taught me otherwise. Just like a have a trusted friend I can confined in together issues, I can also have a trusted partner that I can share private information with in case of any emergency.

[DiMarxist]

Sorry for your friend's dead. My condolences. Base on the topic, I think this has been discussed in the local board and different view points were given. Dead is unpredictable and for that we the investors should always know what to do. Those with family members like children and wives and husband should will them to the appropriate benefactors and foe those who have no immediate family should either spend more on his life, do some charity and will to extended family m members.
Many people in this forum always think the otherwise and they never thought of the untimely dead. And that is why whenever such issue is raised many debunk it will r reluctant about the issue.

[nelson4lov]

Sorry for your loss, OP. may the soul of the departed, RIP.

This topic has been discussed a couple of times on the forum but its relevance still can't be underestimated especially since death, and when we die is not something we can control. The only thing we can do is to focus on what we can actually control and that is adequate planning on how our Bitcoin(s) and other assets are managed in our absence.

It's an important thing to do but it has to be done carefully and with caution.

[Botnake]

That’s why I always involved my spouse every time I take leap into a new investment. Most especially for bitcoin where I have been doing it for a couple of years already. At least if ever I’ll be gone all of a sudden, my bitcoins are safe in the hands of my spouse as I have been teaching her the do’s and dont’s of bitcoin all throughout this process. I’m doing this for the future of my family, so I have to be open about this not just to my spouse but to my kids as well.

[salad daging]

Unfortunately, this is still not certain now, because I myself believe in the family but the children are still young so there is no way they can understand now except for my wife.

I used to think that I wouldn't share it with anyone because I remembered that death can come at any time, whether it's to the young or the old, we will never know.

But now I have planned for something more meaningful - meaning that investments will not be wasted if we die, so we must involve trusted family to know what we have in these assets.

[Stalker22]

Man, Im really sorry about your friend.  When someone dies young like that, it just slaps you in the face with how fragile life can be.  One minute you are making plans and jokes with your friend, the next they are gone.  Makes you think hard about stuff in a way you usually dont day to day, doesnt it?

You make a good point too - when we are young we dont think much about dying unexpectedly. We are too busy trying to build for the future and all that, whether its Bitcoin or whatever.  But then something like this happens and it hits home that all those plans could just disappear if your number gets called early.  Kinda sobering to realize it could all vanish in a flash.  Really makes you reevaluate things.

Anyway, Im rambling here.  Mostly just wanted to say hang in there, man.  Losing someone without warning is rough.  Cherish the good memories with your friend take the time you need.  And try not to dwell too much on the fragility of it all - easier said than done I know.  But focus on living while you can.  Your buddy would probably want it that way.

[Spaceman1000$]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

The living is always planning on things he can achieve and accomplish as he is living, it is hard to see young persons planning about the afterlife, because in their mind they believe that they still have the times and energy to reach their goal, so the discussion of death and who to inherit their supposed property they've accumulated becomes an after thought, which is why is almost impossible and very unlikely to see a young man that has a Will that will be read to his family if the unimaginable happens.

So in as much as there is always a need for us to properly assign our property to our immediate family or our next of kin should in case of any eventuality, the need doesn't arise for most young people to think towards that direction, this is something that has been discussed on several fora, because cases of young people not having a next of kin to their properties always reoccur.

I believe is a continuous call to rekindle the spirits of young persons and allow them know that death is inevitable and can occur at any point in time, so hence your planning to successfully live on earth and acquire properties also have it at the back of your mind that you should plan for your exit too, which is unpredictable.

[Rockstarguy]

It is important, now that we are still alive, to make plans on how our loved ones can get access to our bitcoin if we are no longer here. However, this can't be easy for everyone because bitcoin is more about privacy. It is not like the banking system, where a next of kin can only have access to your account once you are no longer alive. In bitcoin, once you expose your privacy, your assets are no longer safe, but it is always better for those who have loved ones that can be trusted. If you don't have a family member or anyone you can trust with your privacy keys, then it means that if you are no longer alive, no one can access your bitcoin.

[Agbe]

You're right death is an inevitable part of life so in what ever that we are doing we should have that at the back of our mind so coming to Bitcoin investment we should be able to protect our investments securely but it will be good that we have a next of king in what ever we do and coming to Bitcoin investment we should at least for the sake of unforeseen situation like that to have someone that we trust in our children or close family members that we should let know about the details of your investment in Bitcoin as it will be of help because it will make your investment not to lose because the person who made the investment is no longer there

[George Edward]

Sorry for your loss this is indeed terrible a surdden death at the age of 30 that's really bad, this is why every investor  must have a next of kin to be sure that no matter what happens all of his struggle, time ,and sacrifices doesn't go down the drain .
Knowing that the life we are living is full of unexpected even not everyone that sees today make it tomorrow that is why as investors and as a person one must plan ahead of time because time wait for nobody every minute wasted can be put to good use and lastly living a life to remember is one thing that no matter when of or how a person dies knowing that u have achieved your goal on earth will surly bring peace even after death .

[Distinctin]

My condolences mate. Death is inevitable, and we’ll all go there in due time. However, with the type of investment we have, it’s really ideal to set plans and goals prior to investment, that includes having someone that can be trusted with my bitcoin information and all its possible proceeds when I’m no longer present for them.

I’m talking about my wife as she knows my plans and goals for bitcoin. More than securing my bitcoin investment 24/7, I also want to secure the future of the family, and for that bitcoin will definitely serves its purpose then.

[The Cryptovator]

Age really doesn't matter when you are talking about death. There is no guarantee we can live tomorrow or the next seconds. You raised a very important discussion, though it has been discussed a couple of times on the forum. As Bitcoin investors, we have to make sure our assets could be accessed by our next generation. For me, I have been maintaining a notebook in real life, writing all the passwords and related credentials of my hardware wallets where I stored my funds. So after my death, my family member can access my funds.

Though my kids aren't suitable yet to teach them about cryptocurrency, someday they could access it. Because my family members know I am involved with Bitcoin, also I informed them I have funds and can be accessed from the notebook in case of my death. Everyone should have an open option for their next generation to access the rest of the funds after they pass away.

[kotajikikox]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today.

My condolences, mate. He was incredibly young and did not deserve to have his life end as quick as it did.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

There have been discussions about what to do with your bitcoins should you die considering that we protect our coins incredibly well and we do not let any third party have access to it so in case of death no one else can pass it onto our family but us but if we are dead then we can’t. There have been talks about not having a choice but to trust one person that will hold the seed phrase to your wallet/s. Right now, there hasn’t been any convincing ways to manage bitcoins when we die.

[EL MOHA]

It is important, now that we are still alive, to make plans on how our loved ones can get access to our bitcoin if we are no longer here. However, this can't be easy for everyone because bitcoin is more about privacy. It is not like the banking system, where a next of kin can only have access to your account once you are no longer alive. In bitcoin, once you expose your privacy, your assets are no longer safe, but it is always better for those who have loved ones that can be trusted. If you don't have a family member or anyone you can trust with your privacy keys, then it means that if you are no longer alive, no one can access your bitcoin.

This seriously the major reason why most crypto investors actually safeguard their keys and seed phrase because if this get to a different hand they simply have equal access to the wallet just like you and the scary part is the fact that some bad kins can easily start tampering with the funds once they get access to it. But should this stop one from actually providing a way that his family can have access to that funds after his death? I said No. there are two ways to actually safeguard this wallet and also the family having access to it later.

1. The idea of making the wallet a multi sig wallet is one that can solve problems like that, the multi sig can be 2-of-3 multi sig with one seed phrase backup with next of kin, one with you and the last one stored in combination with your will and should be available when you die, this disperse can limit the fear of it been used by your kin before your death.

2. Have the wallet set up in a time lock and then the back up can be shared with the next of kin and the time lock script will limit the access they will have to the wallet before your death, due to the lock on the wallet. The time though shouldn’t be way too long one can put a little time and if the time comes you can simply do another setup to increase the lock again

[uchegod-21]

Inheritance planning is one aspect of Bitcoin investment that looks very simple and easy to do, but on the contrary, it is one of the riskiest and most difficult things to do. One key ingredient in investing in Bitcoin is trust; once you entrust your credentials to the wrong person, whether a stranger or a familiar person, everything you’ve worked hard for will be gone in just a few minutes. On the other hand, it would also be wrong on every level to die, leaving wealth behind that your family cannot access.

We all know that it is time we let our family know what we know, but we keep procrastinating for fear of the unknown, until the unknown hits us unexpectedly.

Because my family members know I am involved with Bitcoin, also I informed them I have funds and can be accessed from the notebook in case of my death. Everyone should have an open option for their next generation to access the rest of the funds after they pass away.

This is really a nice idea i should consider. Whoever would know about this book must be trustworthy.