The dead don’t spend Bitcoin: How to set up a crypto inheritance plan
Creating a crypto inheritance plan is crucial for ensuring that your digital assets like Bitcoin, Ether, and NFTs are passed on to your heirs safely and legally. Without proper planning, lost private keys or seed phrases can render these assets permanently unrecoverable. A strong inheritance plan should include an inventory of assets, clear access instructions, and a trusted executor. Privacy is also key; sensitive details should be secured through encrypted files rather than included in public documents. It is essential to educate your heirs about cryptocurrency and how to manage it because traditional wills often do not address digital assets adequately. Regularly reviewing and updating your plan is necessary to reflect changes in your crypto holdings and personal circumstances. Balancing custodial and non-custodial solutions can help secure assets while simplifying transfers. Avoid common mistakes such as sharing sensitive information insecurely or failing to train beneficiaries on how to access and manage crypto assets.
Source 🔗