Plan now, you could die suddenly as an investor.

[Marykeller]

Death is what we all can't escape when it comes knocking on our way unannounced. We can't escape that, and that's why everyone should be prepared and have someone who they can tell about their ins and outs because of issues like this when it happens so that a friend member will actually say that he or she kept or saved something when alive.

I have thought about letting a friend member know about my seed phrase, but I keep procrastinating about it because I feel that I am strong and healthy; unknown circumstances are far from reaching me. I can see that I am wrong in that aspect because nobody is above death or has the key to everlasting life.

However, this is a wake-up call for everyone to remember a day like this will come their way when they never expect. Act fast is ideal so that your family will stay with something you left behind as an investment.

[sheenshane]

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.

That's terrible when it happens, but if you are the owner, plan ahead and share keys or recovery seeds with a trusted one or include them in your will, so that Bitcoin can be inherited and accessed by heirs. 
I have read about a similar situation where a guy invested in Bitcoin, and before he died, he managed to secure a vault that only his family could access.  When he passed away, his family opened the vault and found a videotape that explained how to access the Bitcoin.  I think it's similar to that.

But no one thinks about this for the future because we know that none of us is ready to die.

[SmartGold01]

learned investor and those who are in the line of Business already knows that before they would join their ancestor they would 'will' up to their children, its often calls generational wealth creation. Then moved out from this side of investment, most people who are wealthy do go their banks to fill up POD form there if the account  owner or operator is gone the next person who was also signatory to bank account will also make withdraw, without the bank having any access to their investment as it would be used against in the court of law.

[mirakal]

We can't predict accidents or sudden deaths. We usually think that only we plan when we are already in the state of almost dying. But we now learn somehow the importance of preparations from others' lives. Planning is not just the smartest way, but also necessary, especially if you have a huge investment. That is why I see some business owners and investors making one of their family members work at the company and teaching them even at a young age. I believe that is what we call preparation in case anything happens.

I know there are worthy people around us. We can give them trust and let them work on it.

[LogitechMouse]

---
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.

I've already had a plan just in case my time comes because like what you said, ANYBODY can just die in an instant.
I always think of this quote on a daily basis where it says, "If it's your time, it's your time". and because of this, I'm always planning on how and who will be the one that will inherit or will have access to my Bitcoins.

We don't know when our time will come so as early as now, I'm teaching somebody that's close to me and who I trust the most the basics of crypto especially Bitcoin. I'm teaching her how to deposit, withdraw, how to access, etc. and in that way, she can just do whatever she wants to do with those Bitcoins. I don't want my Bitcoins to just lost forever just because I haven't taught anybody to access my Bitcoin holdings. I don't want my Bitcoins to be added to those ~3-4M Bitcoins that are lost forever already.

Trusting 1-2 people should be fine, and as a person, we know the people around us that are considered "trustworthy" so as early as now, teach them or else... 

[Negotiation]

Accidents or sudden deaths are unexpected realities so it is wise to involve family members and teach them the ins and outs of business from a young age. This is not just planning but also a necessary preparation for the unexpected especially if one is involved in business investments or inherited assets not having a long term plan means putting the family at risk. That is why businessmen and investors should start training someone in the family at a young age so that if something unexpected happens they can easily manage the organization or assets.

[Nothingtodo]

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.

No one knows when death will come, a person can die at any time and at any age. However, those who invest in Bitcoin must work according to a plan so that the Bitcoin left behind by the investor is not lost forever upon the death of the investor. The Seedphases of the wallet should be left with the investor's children, wife, and husband, taking care to ensure that the investor's close relatives can retrieve the Bitcoin left behind by the investor. However, Bitcoin wallet seed phases should not be given to someone who would treacherously steal Bitcoin by accessing the wallet.

[maydna]

I agree with you @OP. We should planning for who to own our Bitcoin after we death and prepare all things to that. We teach those who will accept our Bitcoin with all of the thing they need so they can use it after we death.

Sorry for your loss @OP. We don't know when death will come to us. That could anybody, anywhere, and anytime so yes, we must prepare many things including teach those who will continue our journey in Bitcoin.

If we care with our family, we can teach them one by one until they understand and can use Bitcoin without any mistake. We can explain that they can search for more info from the Internet if somehow we are pass away.

[Despairo]

I don't see anything wrong with your friend, maybe that's what he planning for?

That's my plan I think, I invest because I'm happy to see my money grow, I feel safer and I don't want to see my money is being misused by other people. Which mean, I invest not because I want to enjoy when it's already huge.

You could say my plan is pointless because what's the point to saves when you didn't spend it? as I said, I'm happier when I see my money grow over spend it.

I also don't want to give my wealth because it's hurt to see someone spend my money like water while I was collecting for every drops.

[lovesmayfamilis]

The Latin phrase that has become a catchphrase, "Memento mori," should be in everyone's head in our time of wars and natural disasters. OP is right; if we understand that we own something significant that can be suddenly lost, we need to be mature enough to prevent this event as much as possible. I would not talk only about death; everything that can disappear by accident needs to be insured. People around us, if they are very close, are unlikely to betray us in difficult moments of life; they can be trusted and explained how to use your "bank" in emergencies.

[KiaKia]

This life is at times meaningless and unbalanced.

Everyone knows that death could come at anytime, yet some people prefer to go to the other side of life with everything they have, if you ask them why they will say it will make their children to be weak.

A strong man financially will always give birth to weak men, because they won't know how it feels to struggle and build something, since there is a lot of money at their disposal, and when such children grow up they will bring children into the world and few of the children will decide to be strong again to escape the struggles of their parent.

This isn't coming from my head, it is something I heard from old men around me, but with my own little brain I think to myself, can't I have money and still raise very strong children? I don't have to spoil them while raising them, but I always end up with this.

What will happen after my death?

[MeGold666]

If you never spend money for fun because you know it will go higher, then there's no point in having more of it.

Spending around 30% (in my case, it's enough) of your income to live the life and not regret later that you're just old / terminally ill and all the fun passed you by is a good approach.

Accidents or sudden deaths are unexpected realities so it is wise to involve family members and teach them the ins and outs of business from a young age.
...

Just because you purchased Bitcoin doesn't mean you know the ins and outs of how to operate a business, manage money, etc., especially not at a high enough level to teach someone else.

Some people here think they are clever investors, but mostly they don't even know the basics of economics, and all they know is from forums and articles which for the most part are made out of bullshitium.

[death69]

Your points are not given enough attention and definitely not in the crypto spaces. Most discuss moonshots, not mortality. But your friend’s death changes the stakes, doesn’t it? Suddenly, we remember that value isn’t measured only by how much we’ve stacked... but by what survives us. Most of us build digital castles without doors. Cold wallets no one can access. Trusts unspoken. Families we never loop in. And it’s not just fear of being hacked or rugged. We fear facing the question: "What happens to my work if I disappear?" We plan for gains. We create for our own independence. But most of us don’t build for others. And ironically, Bitcoin can die in total centralization if only one person holds the key.

You’re right: it’s not about how old you are. It's about your level of readiness to let go, if something happen. Our investing philosophy becomes more whole the sooner we stop viewing death as a variable and begin to create with people in mind. Not just security. Not just custody. Yet continuity. We think about price floors and resistance levels. We don’t think about who we trust enough to receive what we leave behind. Perhaps it is the next portfolio distribution each of us should do.

[BlackBoss_]

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.

Sorry about the loss if it is a true story.

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.

It's personal issue and it depends on whether that investor has loved ones that in his or her mind deserves to inherit his or her bitcoins. If he or she is a generous person with warm heart, he or she can sign a document and give it away to a charity organization or entity after his or her death.

Basically it's personal money that was used as investment capital and it's personal choice to hold it forever or have plan of donation, giveaway, inheritance and so on.

[DISCUSSION] Bitcoin Inheritance Planning.

[MusaPk]

That's terrible when it happens, but if you are the owner, plan ahead and share keys or recovery seeds with a trusted one or include them in your will, so that Bitcoin can be inherited and accessed by heirs. 
I have read about a similar situation where a guy invested in Bitcoin, and before he died, he managed to secure a vault that only his family could access.  When he passed away, his family opened the vault and found a videotape that explained how to access the Bitcoin.  I think it's similar to that.

But no one thinks about this for the future because we know that none of us is ready to die.

All of us are busy in accumulating Bitcoin but most of us are not addressing this aspect of Bitcoin which is to handover the seed along with other details to our next of kin. Death is harsh reality of life which is certain while life is not. It must be clear to all of us that our Bitcoins will be lost forever in case we die and have not handed over material to our next of kin about how to access Bitcoins.

There was a similar post like that in the past and after going through that I have passed necessary details to to my family on how to access Bitcoins in case I am not with them anymore.

[Jegileman]

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.

This is true and many of us think about it in this manner. I use to wonder why is such an early age when registering for something that is money incentive, work or anything of such, you’ll be asked of next of kin and I wonder why they do so even if you’re yet to be married, but I now know why that is being asked as such a young age. Life is not certain and death can come to us at anytime whether prepared or not, so it’s important to have a plan in place that will reward those that will benefit from our wealth after we have gone.

Bitcoin has to do more with security and privacy but it is important to prioritise those we are saving for also, our family to also have a clue on how to access this our wealth. Wealth creation is never meant for the creator only but for those close to him the most, especially the family members to get to enjoy from their pool of riches. No wonder banks makes next of kin an important part of their necessary documentation when banking with them.

[sokani]

I'm sorry for your loss op. I get your point, which is not to wait until old age before leaving a bitcoin inheritance, but sometimes why people wait until when they're much older, and in some cases die without leaving an inheritance is because they don't have anyone they can trust. Some of them may even feel losing the coin on their passing is better than gifting it to a wrong family member that will spend it recklessly, but I do not support this and I think It'd be better to donate it to charity instead of losing it.

[Ojima-ojo]

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.

What I don't do is to hide my details from my family most especially my spouse, this is because when I am not around she could act on my behalf I'm the sense that there could exchange some of my assets to sort out some few needs, this is very important even if it not in case of deaths we still have some other life activities that could put us away from our phones and wallet and at that time only family can access those assets.


I may not leave the access as an enheritance, bit as my own savings, since I can use other physical properties to share as assets, my bitcoin will be for me and my spouse, so only the both of us will have access to the wallet.

[Gaza13]

I'm sorry for your loss op. I get your point, which is not to wait until old age before leaving a bitcoin inheritance, but sometimes why people wait until when they're much older, and in some cases die without leaving an inheritance is because they don't have anyone they can trust. Some of them may even feel losing the coin on their passing is better than gifting it to a wrong family member that will spend it recklessly, but I do not support this and I think It'd be better to donate it to charity instead than losing it.

Everyone has different views on this, I appreciate your opinion on how to deal with this in saving your assets before death comes by giving your phrase information and donating it to a charity of your choice. Even if you give your phrase in advance before death comes to a charity the potential for misuse is much higher than if we give the phrase to our own siblings.

During our lifetime we do not find anyone who can be trusted, for example our own blood relatives if we do not trust them I think it is the biggest mistake in their lives. Blood relatives have a close bond with us, unlike outside blood relatives. I think it is better for this to fall into the hands of our own siblings, in this case before death comes we can teach them slowly, if our siblings understand about bitcoin they can continue from what we had before. That is much more beneficial and we are much more sincere and calm falling into the right hands.

[Pandorak]

First of all, i am sorry to hear about your friend's passing.

Honestly when i saw your story, i realized that time is really short, we don't know for sure what will happen in the future, thinking we will have a long life due to our young age.

On topic, when we already have Bitcoin with a value that we feel is quite large, it is smart to at least think of the best way to make sure people we trust know that we have some assets. We can start training them from now on, just teaching them the basics of how to access the wallet ^[1] how to sell it ^[2] where to sell it ^[3] as well as hinting at the location of the seed phrase that we have^[4], so that when it really happens, at least the hard work so far has not been wasted.