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RE: Where Does Your Crypto Go When You Die? A Look At Crypto Estate Planning Strategies

in #crypto7 years ago

This is a worthwhile topic to discuss. And for the current environment I think you've outlined good steps to take.

In the future, I would expect a smart contract to take care of estate planning in all capacities. Something along the lines of the asset owner creating a contract with a specific set of requirements and a recipient(s) to receive assets after proof of death can be confirmed on the blockchain.

To simplify this example, asset owner A wants to will assets to owners B and C. B and C must prove A has died via the blockchain; then and only then are those assets than transported to B and C's respective wallets.

A lot of research needs to be done in this example such as how do you know that a death certificate hasn't been spoofed. But ideally it would be as simple as that.

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I was actually discussing this with a friend who is part of Halo Platform. It wouldn't even be that complicated. We figured out a few ways to use a smart contract without being susceptible to a spoofed death certificate. :)

Can you link? Would really like to learn more. My parents are into crypto and this would be super helpful.

No I can't.