Post
Topic
Board Bitcoin Discussion
Re: Upon the death of a bitcoin user.
by
CryptSafe
on 29/03/2024, 19:20:46 UTC
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?

OP, your assets are  transferable to your next of kin if you wish to.  As a smart investor, wisdom demands that you have a particular person that you are confident in to take control of your assets. Just like the traditional pattern or method where a will is written for a transfer of inheritance, the same is applicable here if you want it so. You can save your keys somewhere accessible after you are no more, but they should be kept confidential so as not to raise an alarm for a man hunt by your children or loved ones.

With respect to a manager taking over your assets when you are no more, it depends if he or she has an idea what is inside the safe where you have kept it, but you should let your lawyer know what you did if you can trust and confine in your lawyer to help protect such sensitive information  for yourself.