This thought have been bothering me for a while and I feel we can discuss it here. Many people that are building their Bitcoin portfolio are doing it to also save for the coming generation. However, how this wealth will be transferred to the heirs and the next generation and how this wealth will be preserved without being lost or causing problems still remain unclear.
I understand for other tangible assets, a WILL can be written to be revealed when the time is right. But for Bitcoin, I don't know how this can be done as it may require revealing the secrete codes of the wallets or storage device. Is there any other way this can be done?
I think that when you reach a certain age you should openly talk with your sons (and whoever would inherit something from you) about what you have and what it is. In some cases people don't explain, they die, and then there are people who go crazy because they need to put several pieces together with the risk to miss or lose something. Of course I'm talking about people with more money than the average Joe. Same goes with bitcoin: you have them? Make sure your kids know what bitcoin is and how to use it before the get scammed after you pass away.
People die at any time, if we wait for a certain age and if that age does not come in our lifetime how will we openly discuss Bitcoin with our children. Since death is inevitable and death can happen at any time, we should discuss bitcoin openly with children early on rather than waiting for a certain age. We just have to wait until the children are adults and when discussing Bitcoin with them won't have a negative impact on their lives. If Bitcoin is openly discussed with children in advance then surely Bitcoin will reach the next generation, and if we wait for a certain age limit and if that age does not come in our lifetime then our Bitcoin will never reach the next generation and our Bitcoin Amulya will then remain in the wallet as a currency.