Plan now, you could die suddenly as an investor. (2)

[Rruchi man]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone; most investors in bitcoin will not get to old age to actually enjoy their investment. Thinking about that, it has to be said that planning for who to own your bitcoin after your death does not have to be when you are old but when you have accumulated bitcoins to a sufficient amount.

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

[Mia Chloe]

I lost a friend this week; he was meant to be 30 years old today, but he died a few days before his birthday today and was actually buried today. It is terrible news, and it got me thinking that death can be untimely, and it is not only the old or terminally ill that are close to death but also anyone.

To start with Rruchi man my condolences on your loss of a loved one. Sad thing is although death always comes either way it's never a cheerful encounter especially towards the ones we love. May he rest in peace...

Anyways the thing is you can actually make your Hodlings known to family members just in case something like this happens but still it's best to be optimistic about life. Although life is short it's definitely worth living..

[Stuart]

There's nothing as painful as losing a loved one, be it a friend or family member. My condolences to you mate.

Regarding investment, everyone should make a way for NOK (Next of Kin) or a sibling(s) (in a situation where one is not yet married) that can take control of the person's holdings. Situations like this can make an account and Bitcoins stored there, remain there forever and which will never be able to flow into the market.

Having a document where all these important passwords, keys, phrases etc that are required for possession be made known in rare, but close times. No one knows when death can happen, and for that, one can't prepare for it. That's why it's called a thief, it comes when it is not or least expected.

[PX-Z]

Rest in peace to your friend man, and my condolences.

When it comes to inheritance and access of the assets its should be planned and prepared. Just like your life insurance. Much better if you have your last will and make it legal, do make instructions and keep your keys safe. If you dont want an attorney or an executor, then keep those copy of your keys on a safe place but still accessible by your family if you somewhat accidentally died, always provide instructions on how to recover them.

[Mia Chloe]

When it comes to inheritance and access of the assets its should be planned and prepared. Just like your life insurance. Much better if you have your last will and make it legal, do make instructions and keep your keys safe.

That's actually true but you hardly see cases of people planning their inheritance when the are not yet aged or when they are not suffering from some life threatening disease or accident. Infact someone making such moves will give a lot of people the wrong impression that he's planning his death even if it's not actually the case.

Even in the cases of having a will and related stuff, we've also seen cases where lawyers steal some belongings via documentation after the demise of the victim.

[Hatchy]

It's a actually a sad thing to hear about such news about your friend. Once again, more reasons why we should consider informing someone close to us about our investments. We know how life is. You might come across a person just few seconds ago and later hear that he or she's gone. Death is inevitable so we as humans should take it as something that would come at will. We have to plan before hand to make sure our investments doesn't waste away while our family loved ones sits there weeping.

[PX-Z]

That's actually true but you hardly see cases of people planning their inheritance when the are not yet aged or when they are not suffering from some life threatening disease or accident. Infact someone making such moves will give a lot of people the wrong impression that he's planning his death even if it's not actually the case.

Well, that's true. But not all the time when most insurance are rampant now. I do have life plan insurance, as well as memorial plan. It's for financial security so those left behind so they don't get more problem aside from lossing you, well, its like a taboo, because some misinterpreted it like you wish death for them or for you lol but you need to do it, and be open minded if what will happen in the next future.

Even in the cases of having a will and related stuff, we've also seen cases where lawyers steal some belongings via documentation after the demise of the victim.

There are case like this, thats why you need to choose trusted lawyer, a family lawyer and is not blood related is the most recommended, i guess.

[tabas]

It is one to be considered and it's a good topic because others might think this is too much of a topic but, no. This is a real deal and could happen to anybody that's invested into this market. And that's why we have to plan things ahead of time before something unexpected happens. The first thing we need to do is to teach our successors or heiress on how to navigate wallets and import the private keys that we'll give them. Time by time, little by little and soon they'll also learn that before we pass.

[Roseline492]

Sorry for the lost, is sad for your friend to die at that young when he could have had so many things to dream of, however all you have said is very meaningful and advising because nobody knows what is coming and like you said it can be a general something that somebody can stay without any form of sickness and passed away, so actually all this things that's always happening should tell people who are so advanced in age to start looking for an alternative of bringing there next of king into it because is a waste to invest and nobody is there when person is no more.

[joniboini]

Sorry for your loss.

It's a nice reminder for people who want to give their wealth to their family members. I remember reading many articles about this topic a few months ago. Some threads also show up here and there asking how people should prepare their inheritance.

Some of them suggest relying on a third party for convenience, which is what most people look for. But I'd suggest learning about time-locked transactions and finding other solutions instead of using a third-party. We should reduce reliance on a third party if possible, because of the possibility that you won't be able to recover your wealth because of their complex TOS.

[Tribalchief]

That's very young, and so sorry for your loss.

This is a very sensitive topic, even though we always address it once in a while neglecting the fact that life can be very unpredictable. No matter how we want to look at it, it all still boils down to the issue of "Trust". I know for sure that some people don't really care about who is deemed worthy to know about these things (like ones personal seed phrase and holdings), but the truth is, People sometimes change. At the end of the day, we all will still have to weigh our options properly, and issue those sensitive information if we think it worth it.

The bottom line is, someone close should be aware of what you do.
That is already more than enough information for them to know what to do when such circumstances occur because they will certainly know that there is a seed phrase and a whole bunch of sensitive information to search for.

[Stompix]

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost;

You also have to consider if all your family dies, and if all of Earth is destroyed, and if your investment is worthless one year after you die..
And if you start thinking of all the possibilities, it simply means you're wasting your life planning for your death, which is kind of stupid

[Findingnemo]

Honestly we can't plan our death, it can happen anytime and in the most unexpected ways so we can be prepared for that right now. Share your private keys with your family? If you trust them with all of your life savings then yes. There are also features like timelock that will help with the inheritance for your kids.

If you ask me get a good life insurance and teach them how to become rich while you keep depositing some once in a while in their accounts.

[libert19]

As your investments begin to mature into a considerable amount, while you consider the security and safety of it, it is also important that you consider the situation where you die suddenly and your Bitcoin gets lost; no investor would want that except they have no family and friends worthy enough for it.

I don't wanna share my assets with anybody, cause they are mine, earned by me only and if I suddenly, they'll disappear along with me. I could care less to share what's mine with anybody else.

I am alone, and don't have wife or kids and may be that's why I don't understand attachments some people have with those relations and they share their assets with 'em.

[Crwth]

I believe you really need to make plans for your investments and maybe get a loan so your loved ones can see what you are doing and what you have. You need to be ready when the unexpected happens.

Condolences OP.