Quote from: Odohu on Today at 12:24:10 PM

Nevertheless, in a case where the multi-signature wallet suggestion is not feasible, I am considering arranging my portfolio in different wallets according to the heirs I want to inherit them. As time goes on and when I guage their level of mental maturity, I could even give them access but with specific instructions never to temper with them until I am no more. This is because I feel it is better the rightful heirs access the funds than some third parties pulling a fast one on me and my heirs. This is just a possibility and I might still adjust it.

I am a little bothered by what you seem to be suggesting, at least in terms if a lot of time might pass between giving the instructions, and I suppose I could assume that you are checking the validity of the wallets periodically, such as 1 or 2 times per year, because if several years pass and the keys and the method has not been checked, it could become problematic.. Of course, another way could be to describe the method, but also provide the back up seed (or whatever method is being used), so even if they are having trouble figuring it out, they still may be able to get some technical assistance from some random hacker (hopefully trustworthy) to figure out derivation paths or whatever might be a possible snag in getting at the wallet showing the proper balance of 0.00451376 BTC or whatever the correct amount contained therein might end up being.

Quote from: Odohu on Today at 01:28:46 PM

Quote from: JayJuanGee on August 23, 2023, 11:50:15 PM

Personally, I question the extent to which it is necessary to teach your heirs about bitcoin in order for some kind of plan to be made in which they would benefit from your bitcoin.

I am sure you will agree with me that to leave Bitcoin for heirs require them having at least the basic knowledge of Bitcoin... this will make them self-dependent, not asking third party for help when accessing the Bitcoin. Of course you know the risk associated with asking for help from third party as regards Bitcoin.

Furthermore, in the early stages, children have the ability to learn and retain many things. So, it is therefore our duty to teach them the real things of life from our wealth of experience. Let their passion decide which to take seriously.

I doubt that I am really disagreeing with anything that you are saying in regards to attempting to teach your lil ones (and also at various stages as they become less little), and also maybe it is likely if you have raised your kids well, then they are going to listen to everything that you say and not rebel against you in any kind of active or passive way.

And if they were to happen to rebel against you, then it would thereby be up to you whether you choose to negatively adjust the amount of the cornz that you had been intending to leave them.

Quote from: Odohu on Today at 01:28:46 PM

Quote from: JayJuanGee on August 23, 2023, 11:50:15 PM

...you could create some kind of a trust and you could also have some person or some kind of an organization that would be in charge of distributions, and you could also have terms within the trust that might involve some of the needs of your various heirs to educate themselves in regards to bitcoin (or any other topic) if you believe that might be a reasonable condition to set upon their receipt of the bitcoin or to receive distributions that might span out over a number of years or even through their whole life, if you might want to set it up in that kind of a way.

The is another wonderful suggestion that is feasible. This is also elaborate in the sense that it makes their education about Bitcoin a prerequisite for receiving their inheritance. Choosing a reputable organisation that will have the integrity and longevity to manage such trust is another huddle. As of today, I don't know if there is such and organisation in existence as I have not read or seen anywhere where such services is being talked about. More so, don't you think insurance company might come in and considering that there is yet to be a registered insurance company that handles Bitcoin, will that not be another huddle?

There is a pretty wide practice of the use of trusts amongst rich people in a lot of places around the world, and even if there is likely some jurisdictional variance (and even various hurdles along the way), trusts are considered to be kinds of private conveyances of value/property, that are set up while you are living and you can even have a trusted friend administer once you pass.. or you could already have it going before you pass and you could be the administrator of it while you are still living..

I surely don't know all the nitty gritty between the kinds of trusts (revocable and irrevocable) that could be set up, but you ultimate describe whatever terms that you like within such trust including who the administrator is (and of course who the various beneficiaries are) and usually the administrator would receive some kind of a fee that you would describe within the trust. and I would imagine that you would not want your trust administrator to work for free because they might not carry out what you want if the terms do not fairly compensate them for carrying out the trust terms and maybe even describing how expenses, if any, are paid from the trust.