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How to setup transfer of coins for when you die

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How to setup transfer of coins for when you die

So I've been setting up my stuff, and have learned a bit. Check my last post on how to use washers, a bolt, and a nut to save your seed phrase. There is some good links people replied which can help others in this (even more if you have a 3D printer), and many pointed out why a fire resistant safe doesn't protect paper in many cases.

Now we get into what needs to happen for when you die. Note things like KuCoin which most of us haven't done a KYC. I would say just find a way where they have access to your 2 factor, but a transfer in username and password should do.

You should know there is solutions like Safe Haven. I haven't tested any of these, but basically basically it helps you you with the inheritance process in storing an encrypt info you put on the blockchain. And by using a given method it can be unlocked for a given user by using multiple safe keys and so on. Even with a thing where if they try to get the info, you have a few things that notify you. And you can shut that down quickly.

https://safehaven.io/product/inheriti/

NOTE: for those methods IDK of a good one that allows you to update info. For example when you get a new account, new type of crypto, or whatever. Again, I haven't tested this YET.

NOTE: for those using Lastpass, I do have a solution for you and it is towards the bottom. It is dynamic and uses a similar type of dead man switch that Safe Haven uses.

Anyways, for others what is needed?

Coinbase:

https://help.coinbase.com/en/coinbase/managing-my-account/other/how-do-i-gain-access-to-a-deceased-family-members-coinbase-account

The documents or information needed are the following:

-Death Certificate

-Last Will and Testament - AND/OR - Probate Documents (either Probate, Letters

Testamentary, Letters of Administration, Affidavit for Collection or Small Estate Affidavit)

-Current valid government-issued photo identification of the executor named in the Letters

Issued

-A signed letter instructing us to move the funds from the deceased’s Coinbase account to

the beneficiary’s account.

BIG thing to note. Talking to support confirm the person inheriting the stuff DOES NOT get access to your account. Which means if you're using something like Koinly track everything. You MUST make sure they can access it without needing your Coinbase account.

Note for accounts like Koinly where you might have a login. If you do a forgot password on your account and use your email. When you reset the password, you now forced the system to let you log in with your email OR your Coinbase account.

Binance & Binance US:

This mostly seems to work the same way as Coinbase, but something to note is there is no easy support or anything on this. Like Binance US has THE worse customer service I ever dealt with around crypto. So even if whomever did give their support all the info. They might wait a good year before hearing back (if at all).

Normally Binance tends to be easier to deal with, but as someone who dealt with them literally making jokes about me wanting them to reset my 2 factor to recover my crypto, and then when they found out I'm in the USA they gave my a middle finger and told me to contact Binance US. I don't trust them.

Personally, this is one of those I think it is best to move everything off the exchange if you're not using it. But somehow find a way your other has access to your 2 factor and account info.

For exchanges that have no KYC or a way for them to get access to any exchange:

Again, Safe Haven COULD be a good choice. Again, I never used it and I'm not sure how well it works on a dynamic thing like crypto.

A possible solution is https://lastpass.com/

This tends to be a good password manager, but in the vault you have notes. If you use something like Google authenticate you could take a screenshot/picture of the export (right menu button at the top>transfer accounts>export accounts>select the accounts you want to give them and press next, then take a picture of the QR code)

Because it is likely you will just store your passwords on the password manager. You can put your crypto passwords in a crypto folder by typing in crypto in the folder or selecting it if you already having a crypto folder

https://preview.redd.it/wbnxaxsx3fk81.png?789&format=png&auto=webp&s=3c25f76fa4cd617bd1677fb75b562bdaaa9eac66

From here just read this article which tells you how to transfer passwords on death. https://blog.lastpass.com/2016/07/how-to-get-started-with-lastpass-emergency-access/

Please note this also uses a similar dead man switch as Safe Haven where you can say if you don't decline after x hours/days. Then automatically give them access to whatever you want.

Now as far as text messages for 2FA. A possible solution is Google Voice. This is a free SMS function that can link to your normal Google account. There is more to it, but basically, if you give them access to your email. Then you can give them access to this which takes care of the 2FA. https://voice.google.com/u/0/about

IDK if this is available in all countries, but there might be other solutions like this if this isn't the case. You will just need to make your 2FA use this voip number and not your normal phone number.

NOTE: I will be making a template document which people can copy from. That away you can modify and give it to your family to help them when the time comes.

You might want to research tax laws and other laws when it comes to inheritance in your land.

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