I have come to stay in this community and thought of one thing which has been bothering me.
Relating from our traditional banks where a bank customer dies and all his assets remains unclaimed by his relatives. I was once told that there was a bank manager who withdrew funds from there customer dormant accounts hopefully that the owners are dead as those account has been dormant for years without any form of activity on the account, it happens when no relative knows about the account for them to lay claims.
Similarly to bitcoin what happens in the event of my dismissal since no relative knows about my investment. It doesn't really make sense if my family can't enjoy my wealth. Will it be lost or is it good to entrust someone incase I'm no longer there?
In the case of the deceased in the country where I live, the banks in that country are regulated and as per the government law - if the account holder has a nominee in the account of a bank or financial institution, then that nominee can withdraw the money from the bank and the nominated nominee of the deceased will own the money. But according to the current law the heirs of the deceased will get the money equally.
Many of us who work with Bitcoin are worried about what will happen to their Bitcoin. I think the closest family members are your parents, wife and children. Yes it is true that we can die at any moment, so to protect your Bitcoins must give proper knowledge about Bitcoin matters to someone in your family. If you die, later family members can use your bitcoins. I don't think it would be a bad decision to tell your family about Bitcoin.