Protecting Digital Assets after Death
Apart from having to pay taxes of course, there is one other thing that is guaranteed to happen to you at some point in your life, and that is you are going to die!
Therefore if you do use Bitcoin or any of the many other digital currencies that are available, and you do not want those holdings to die with you and never be used after your death, then you need to make sure that you leave them to someone who you want to have them with once you are dead and buried.
As part of your will you should list any digital currency holdings you have and obviously let those people you want to inherit them that they are there for them, but another important thing they are going to have to have access to once you die is your digital wallet or wallets those cryptocurrencies are stored in.
It may also be beneficial for you to make sure that the person or people who are going to inherit your digital currency holdings are fully aware of how to operate a digital wallet, for it can be and often is a completely alien environment for some people who have never used Bitcoin or another digital currency before.
Whilst your death is something you probably do not want to spend any time thinking about, you never know when you will die, so the sooner you get a will in place the better. You can always update it and make any amendments to it during your life!
It s not only your digital currency holdings that you are going to have to give other people access to after your death of course, for you may have a range of different online assets that you would like to leave to other people after your death.
As such ensure that you compile a full list of every single online asset you own and then make the necessary arrangements in your will to ensure those who you want to benefit from them will benefit from them and have access to them once you have gone.