Five years ago, 26-year-old Matthew Moody was killed in a tragic plane crash in California. He was a Bitcoin miner and left a small fortune behind him.
"My son was actually one of the very first who started to engage in prey, "Said his father, Michael Moody, in an interview. He described in detail the struggle of the family for the discovery and restoration of lost funds.
Moody, a software engineer in the past, began searching for his son's crypto currency three years ago. He discovered that his son used the Web-purse Blockchain, and this was the main problem, since it is impossible to access it without a password or personal wallet keys.
Many users neglect how to transfer their crypto-currency assets to heirs. This is not surprising, because the largest proportion of crypto-currency investors are millenials, and studies show that less than 25 percent of them take care of their will.
Pamela Morgan, a lawyer specializing in crypto currency, writes a lot about the need for investors to take steps to transfer information and access to their wallets to heirs.
"People are dying. Crypto currency – no », – wrote Morgan in his blog.
Morgan, who is currently the author of a comprehensive guide to real estate planning for crypto-currency investors, published a convenient template "Letter to loved ones". Investors can use it to help heirs, including without the experience of using crypto currency, to access these assets and, if desired, to liquidate them.
Although this is not a substitute for a will, compiling one of these letters is an important step towards enabling your heirs to access your investments.
Author: Olga Novikova, Analyst Freedman Club Crypto News
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