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

Quote from: JoyMarsha on August 10, 2023, 10:41:19 PM

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

This is a great suggestion and seems feasible. But then, are there no chances that someone can bypass the password of the hardware wallet? If no, then I guess this is a great way to go about it.

Quote from: Kakmakr on Today at 06:31:31 AM

Well, it is actually very easy to do this on your own. You can put the secret passphrases and/or Private keys in a time capsule and bury or hide it in a place that only your family members will be able to find it.

Then you leave clues to your treasure with someone you trust or a lawyer (break it up in 2 or 3 templates that can only work if all parts fit together) Once you are gone.... they can get the pieces together and solve the quest to find your coins. (The clues must be something that more than 3 people would be able to know about you)

A lawyer only has one part of the template and the other people only their pieces... so they cannot do anything without the full treasure map. Wink

This is feasible but leaves huge chances for compromise. In the course of unraveling the the puzzle, what is supposed to be a secret may end up not being a secret anymore because chances are there that some of the children might seek for help in some of the steps. All the same, the idea is good but I feel it need a little fine-tuning.