Everyone of us must have such plan in order to make sure our Bitcoins are still in use after we are not in this world. This is issue we must not delay because there is no predefined time of death. I have a family and want them to take advantage of Bitcoins I have and thats why I have trained my wife on how to restore a wallet without my aid. I am also training my wife and kids on how to use Bitcoins because that will help my kids to excel in life as they grow up.

Any of this method you want to use to store this seedphrase for later use for the family, there will always be discrepancies attached to it. A lawyer is already a third party between yourself and your family, anything can happen and even the cost of keeping them can be very expensive. If you can’t trust your immediate family with your money, then you can just give the Will out before your death.

They are your family and you know certain things that can make any method you use effective for them to access the seed phrase when you’re no more again.

The idea of self-custody has done more good for bitcoin security than bad, and if a wallet can be built in a way that family members and trusted people can access it, then there will be more compromises, and it won't be good for bitcoin. The idea of self-custody is based on what bitcoin is. Everyone who owns bitcoin must have control over it, and if you choose to give anyone access to your seed phrase, that’s a personal decision.

I have one close family member whom I trust completely. I'm confident that he would never betray me because of his values, principles, and the way he treats me. He knows where my written seed phrase is stored, so if something were to happen to me, he would be able to access it easily. I'm confident in him. Besides, he has substantial savings of his own, so he has absolutely no reason to steal from or take advantage of the people he loves and cares about.

So, where else can we entrust our assets now so that they are truly stored safely?

Now let me express my paranoid mind and ask a simple question.

If you prepared anyone else that you really trust for the situation where you die, have you prepared at all for a situation where you both die, such as in an accident?

Have you made any inheritance plan for your Bitcoin?

Now let me express my paranoid mind and ask a simple question.

If you prepared anyone else that you really trust for the situation where you die, have you prepared at all for a situation where you both die, such as in an accident?

Your Bitcoin may become unreachable by your family if you are only individual who knows where your seed phrase is and how your wallet works. On the other hand, if you share your seed phrase with someone during your lifetime, it also creates clear security issues. It is not always easy to find the middle ground between security and inheritance. Experts generally recommend planning both the technical recovery process and the legal side of inheritance instead of relying on memory alone. It is generally agreed that the technical recovery process should be planned as well as the legal aspects of the inheritance process, other than just relying on memory.

In my opinion, the protection of Bitcoin should not only be against hackers and thieves. It should also include ensuring that your family does not end up with unopenable wallet should something unexpected happen. The hard aspect is creating plan that will protect your Bitcoin today and let trusted individuals get it back later. It is likely that there is not one solution that works for everyone, so it is best to consider it before it is needed.

Have you made any inheritance plan for your Bitcoin?

Of course, I have talked to my wife about this and I love my wife and children very much. Especially now that my child has not yet been able to gain any knowledge about Bitcoin because he is not at the right age to gain knowledge about Bitcoin. That is why I have written down the security phrase of my wallet for my wife so that if something happens to me unexpectedly, she can access my Bitcoin and distribute the Bitcoin I have left to my children. However, I have taught my wife a lot during my lifetime. I hope that if something happens to me, my wife will be able to recover it and distribute it to my children because I love my child and my wife very much and I am saving Bitcoin for them during my lifetime.