Gentlemen

Gentlemen,

I've been thinking recently about how I should arrange to pass on my crypto when I die. I currently have over $150k worth of BTC and other coins. It's not unthinkable that this could be worth 7 figures some day. I'd hate for all that wealth to be lost forever should an unfortunate incident befall me. I'd want it to go to my family or someone else close to me. However, I don't like to tell people I hold crypto. I've never even told my family about my holdings or gains. I'd like to keep it that way.

I've been thinking about getting two Ledger hardware wallets, one for me to hold and one as a backup. I'd keep the backup in a safe deposit box. I would then hire a lawyer to pass on the safe deposit box key and a sealed letter with the Ledger PIN. That way, should I pass on, the crypto would be recoverable by whoever receives the Ledger and the PIN, but I wouldn't have to tell anyone about it, including the lawyer.

What do you guys think of this plan? Any flaws or potential security risks that you can see? Is there a better way to handle keeping my crypto assets a secret but still ensuring that they be passed on following my death?

Write the private key in the will

This could work. Put some instructions in the safety deposit box, like, detailed instructions, your normie friends will have literally no idea what the device is.

no, that doesn't sound very secure. Anyone who reads the will would then have my private key. I was thinking as a backup to save the private key as an encrypted 7z file on a USB stick kept in the safe deposit box, and leaving the password in the will, or better yet, in a sealed letter to be opened only after my departure.

electronic hardware degrades over time as metals oxidize etc. if you stick a ledger in a safe deposit box there's a fair chance 20+ years from now it wont function, even more if said device is built cheaply (which they probably are)

I would recommend you make sure to test use the ledger once or twice a year at least to be safe

Yes, I considered leaving instructions with the Ledger as well. I want the PIN and the Ledger to be separate, which is why I leave the PIN with the lawyer (in a sealed letter so the lawyer never sees it), and the Ledger in a safe deposit box

That's fucking stupid. What, so the lawyer, the intern that prints it, and everyone in between sees it?

Engrave your key in stone and put it in a bank safe.

I considered this as well. I planned to test the Ledger every few years and also replace as upgrades are released. As a contingency, I'd want the private key / seed saved encrypted somewhere, e.g. on my PC or on a USB stick, and give the password to the lawyer (again in a sealed letter so he can't look at it).

no, because then anyone who saw the stone would know my key. I'd want the key to be stored encrypted somewhere, and leave the password with someone I can trust. Trouble is I can't trust anyone.

>give the password to the lawyer

oy vey! whad an EXCELLENT idea ! Surely a man of the LAW would never use your private key that you havent told anyone else about

Are you certain the pin is necessary? I thought someone could wipe the ledger, restore from seed and then set a new pin.

1) I'd give the lawyer a sealed letter, with instructions in my will that the letter be opened after my death. If the seal is broken before then, well then it'll be obvious who did it. 2) I would not tell the lawyer that the sealed letter contained my Ledger PIN or password for my encrypted files. 3) The lawyer would not have access to my encrypted files on my PC or safe deposit box unless he broke in somehow.

I've tried to think these things through. I know lawyers aren't trustworthy.

You're correct, but giving someone the Ledger and PIN is easier for them than giving them the seed words and having them set it up themselves. And again, my plan is to have the seed words stored somewhere securely as a contingency.

Personally I wouldn't trust someone who would be unable to do the required reading to restore a wallet from seed with the motivation of 150k+

Using the seed as a backup instead of the primary way to pass it down just complicates things

hire a second lawyer, put the instructions for lawyer1 into a sealed letter and give that to lawyer 2

repeat with 3-4 more lawyers for additional security

normies are pretty stupid when it comes to even basic technology. My dad for instance is quite intelligent, but totally clueless with PCs. If I gave him a letter with terms like "private key" and "BIP39 seed", he'd probably throw it away, even if I told him it could get him a million dollars. Ledger makes things normie proof: plug into your PC with USB, launch the Ledger Chrome App, enter the PIN on the device.

Since you haven't told anyone else, then he can just alter your will and take the coins. You really are a naive retard.

is this something lawyers routinely do? I find that hard to believe that lawyers routinely go around changing people's wills to steal their property. I also imagine there are ways to protect yourself from this, like having a copy of the will stored with someone else. And again, the PIN and other private info would be kept in a sealed letter, which if tampered with would be evident. The lawyer wouldn't even know the letter had a PIN which unlocked untold wealth, so he'd have no reason to even attempt to open the letter.

If you're so smart, how would you pass on your BTC after you die while keeping them a secret from everyone?

>3-4 lawyers

just give 1/2 of the info to your CPA and 1/2 to your lawyer.

any other thoughts on this? I know many of you have large holdings. have none of you considered how you'll pass your crypto on while still being secure?

I've read about an ICO that does these insurance and will related things, they store it in the blockchains so that it's trustworthy. I can't remember the name ffs. Google it though

If you can't trust anyone why are you giving it to them. Start a charity organization with maximum help to cost ratio.

Sometimes $10 can change a life forever.

You just samefagged.

I hate this website.

There is literally coin coming out for that prob.
Estonian company.
I forgot name, but go check vid of jsnip4 on youtube 2 or 3 days ago.

Thank me later, np.

And btw its icoing this month.

Give your next of kin half of the private key and write the other half in your will.