What happens to your crypto when you die?
We (hopefully) spend A LOT of time creating elaborate security measures to keep the WRONG people OUT of our crypto.
But what about giving access to the right people? The people you want to share your crypto after you're gone. How will they know you even own crypto? Will they know what to do with it?
Everyone who owns crypto needs an emergency access plan. As more and more people invest in crypto, this is an increasingly urgent need.
Look at this cry for help from Sara on Reddit. “My husband passed away unexpectedly and I found a USB thumb drive in our safe. I don't understand bitcoin and could use some help.”
And consider the plight of Matthew Moody's father. Five years ago, Matthew died in a plane crash at age 26. His father knew Matthew had been mining Bitcoin, but he has no idea how many Matthew had or how to find them.
Does your family even know you own crypto?
As Erik and I were tending to our portfolio, we started wondering about the Big What If. You may (or may not) remember, I dropped my phone in October, breaking it and taking with it my 2FA codes. Six months passed before I could prove my identity to Coinbase and restore access to my account. What if the unthinkable had happened?
Erik and I started exploring how to create an emergency access plan - a non-technical recovery roadmap for loved ones. Our crypto could really be worth again something someday! :P
And out of this research, we have created a nifty step-by-step checklist and a Get-It-Done workshop: Oh Crapp My Crypto! We're testing it before rolling it out to the public next month.
If you'd like information about the workshop and a free worksheet to get you started, sign up HERE.