As Bitcoin and altcoins are on a distributed network without an intermediary, in the event of your sudden passing, your crypto could be inaccessible if you do you have a plan in place.
There are a number of steps you can take to ensure your crypto is protected in the event of a sudden passing, such as:
Sharing knowledge of your crypto plan with trusted family members: This can be as straightforward as storing your wallet or seed phrase in a safety deposit box and letting your trusted family members know the whereabouts.
Express your desires in a will: Outlining a plan for your cryptocurrency in a legally binding will is a simple way to ensure your cryptocurrency is protected in the event of a death.
Providing a death certificate: In the case of cryptocurrency exchanges such as Coinbase, it is possible to present a death certificate, documentation or a will to retrieve cryptocurrency.
Create a family trust: Setting up a family trust will ensure loved one’s will have access to the cryptocurrency in the fund.
We highly recommend speaking to a legal professional to ensure your crypto is protected in the event of a death.