Silly question right?
Unless there is a backup method or heritage system it obviously vanishes for eternity, but the point was to discover methods that you are aware for avoiding such risks.
Well, it's not a risk, it's a certainty, but there are other risks of losing access to the crypto account aswell.
Some like:
* death... obviously
* house burns down along with hard wallet
* one can accidently loose his cold storage or hard wallet
* maybe other you figure out and I add them
So, what storage do you use to ensure your savings, or what do you think would be the best solution to overcome these risks?
UPDATE: I started this discusion because I can't see a decentralized solution for that, most of the centralized ones are largely known (wills at lawyers, online wallets and so on) but do not meet the security criteria as still imply a trusted party. Better simply handover the private key directly to the inheritant IMO.
What I want to determine is if it IS realy a concern for the comunity or not, and if yes than we can contribute all together to the creation of such a product. But again I realy do think it should be built decentralized and trustless.
UPDATE 2: What do you think of a smart wallet that can release the money to a specified address (inheritant) if the primary owner does not log in for 1 year?
There's not much law that covers about your digital assets specially your crypto account since most of governments still does not support it. But by common law if you want to make sure that your digital assets are secured, first, you must at least have a back-up copy for your hard wallet or cold storage. In this way, you can secure your account even if something unexpected happen to it. In terms of death, you might consider sharing to your family your account, have them a copy of your documents together with the password so that they will be able to access all your digital assets.
