I have spoken on this subject in the past but it feels more real than it ever has since my dad just had a major brain stroke on Friday. I can see my mom is very unsure of how to manage the financials and it’s a very tricky spot to navigate with my dad only being able to spit out a few words at a time, I am hopeful for a full recovery.
First of all I am sending prayers to the recovery of your father and I am sending support to the rest of your family as well. Second, I am glad that you seem to have some idea about crypto already but in some families not everyone would be so familiar. I would recommend anyone with valuable assets that need maintaining to appoint a legal or professional advisor to handle all of it. Sure a family member would be trusted but would they be of any good in handling these finances?
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I have my flight booked and I’ll be there in a few days to help with everything but now more so than ever if you haven’t taken the time to fill in your significant other or trusted family member what to do in the event of something like this happening then you need to make sure that is in place not only for all your crypto assets but physical and anything you can pass on.
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Like I said your father is lucky that you can help but not everyone would be able to understand and do a good job of maintaining one’s assets especially in an industry like crypto. Especially if your loved one is not tech savvy, teaching them might just a bit fruitless. So for me a trusted advisor would be the ideal scenario but I would still make sure that my partner or any loved one knows at least my assets and can check if there’s any suspicious behavior from my advisor.