Cryptoasset Inheritance Planning: A Simple Guide for Owners (English Edition)

Description

“What happens to my bitcoin, ether, or other cryptoassets when I die?” Cryptoasset Inheritance Planning: A Simple Guide for Owners by Pamela Morgan, Esq. is a clear blueprint to inheritance planning for those holding cryptocurrency, tokens, crypto-collectibles, and other cryptoassets. Since 2015, Pamela has educated thousands of cryptocurrency owners around the world about why inheritance planning for cryptoassets matters and how to do it in a secure, usable, resilient, and efficient manner. In this book, Pamela walks you through her successful step-by-step inheritance planning processes. These processes are designed to help you build a customized crypotasset inheritance plan - and you don’t need to be a security expert or lawyer to do it. Inside you’ll also find helpful tools like checklists, templates, and worksheets to make building your plan simple and easy. Topics include: - how to write a basic access plan in two to three hours - how to assess your risks and make your plan better - debunking common myths and misconceptions about cryptoasset inheritance planning - what laws you need to know about and why - how to interview, hire, and fire a lawyer and how to keep costs down - why smart contracts don’t apply to inheritance today, but will someday - and so much more By the time you complete the book, your plans should: (1) allow your heirs to take possession of your cryptoassets when the time comes, but not before, (2) minimize the opportunity for others to steal cryptoassets from your loved ones, (3) provide an opportunity for your loved ones to hold the assets securely, instead of liquidating, (4) prevent fighting amongst your heirs and avoid legal problems whenever possible. Buy this book, follow the process, and you’ll be able to confidently answer the question, “What happens to my bitcoin, ether, or other cryptoassets when I die?” Cryptoasset Inheritance Planning Praise Foreword 1. Introduction 1.1. Who Is This Book For? 1.2. Goals 1.2.1. Planning is For You Too 1.3. Perfect Solutions are an Illusion 1.4. How to Read This Book? 1.5. Disclaimers and Clarifications 1.6. Independent Recovery Strategy 2. Six Mistaken Beliefs 2.1. Mistaken Belief #1: I have to hire a lawyer 2.2. Mistaken Belief #2: I have to trust a third party 2.3. Mistaken Belief #3: Planning will make my assets easy to steal 2.4. Mistaken Belief #4: The value of my cryptoassets is too low to plan 2.5. Mistaken Belief #5: My heirs will figure it out 2.6. Mistaken Belief #6: All I need is a smart contract 3. Get It Done: Making Your First Plan 3.1. Supplies Checklist 3.1.1. Why Those Supplies? 3.1.2. Why Primitive Technology? 3.2. Select A Storage Location 3.3. Selecting Helpers 3.3.1. Your Heirs Already Rely On A Helper—YOU High-Value Transfers, High Stress Let’s Be Honest About the Technical Requirements Let’s Be Honest About Your Ability To Write It All Down 3.3.2. Identifying People To Help 3.4. Begin Writing A Letter To Your Loved Ones 3.5. Building Your Quick Asset Inventory 3.5.1. Phone Backing Up Your Wallet Sample Backup Card Sample Access Code Card 3.5.2. Computers And Laptops 3.6. Wrapping It Up 3.6.1. Make A Copy 3.6.2. Educate Your Heirs 3.7. Store Your Letter and Backups 3.8. Schedule Time to Make It Better 3.9. Celebrate! 4. Make It Better 4.1. Access Plan Do’s and Don’ts 4.1.1. Do Decide Who You Want to Control the Access Process 4.1.2. Do Include All of the Information Your Heirs Will Need 4.1.3. Do Write The Plan For Your Heirs, Not For You 4.1.4. Don’t Make Your Access Plan a Top Secret Document 4.1.5. Don’t Make Your Access Plan a HODL Plan For Your Heirs 4.1.6. Don’t Make Your Access Plan Your Will Or Testament 4.2. Be SURE 4.2.1. Set a Goal 4.2.2. Better Asset Inventory Consolidating and Evaluating Assets Separation Of Powers Multisignature Key or Seed, Plus Passphrase Shamir’s Secret Sharing Physically Dividing the Key New Division Options Are Coming Don’t Build Your Own Encryption Choosing Your Separation of Powers Strategy 4.2.3. Audit Your Backups 4.3. Better Long-Term Storage 4.3.1. Storing Key Material Access Logs Location Chart 4.3.2. Update Your Get It Done Plan 4.4. Better Helpers 4.4.1. Evaluating Potential Helpers 4.4.2. Fiduciary Helpers 4.4.3. Revise Your Access Plan 4.5. Evaluating Your Access Plan 4.6. Detailed Analysis 4.6.1. Keys, Seeds, and Access Codes Security of Key Materials Usability of Key Materials Resilience of Key Materials Efficiency of Key Materials Identifying Areas of Improvement 4.6.2. Evaluating Your Storage Locations Security of Places Usability of Places Resilience of Places Efficiency of Places Identifying Areas of Improvement 4.6.3. Evaluating the people Security of People Usability for the People Resilience of People Efficiency of People Identifying Areas of Improvement 4.7. Improve Your Access Plan 4.8. Additional Legal Documentation Required 5. Make it Legal 5.1. The Laws You Need to Know About 5.1.1. Consider Who Gets What 5.1.2. Intestacy Laws and Why You Should Care About Them 5.2. What You Need to Know About Wills and Probate 5.2.1. Don’t Put Keys or Passwords in Wills Wills Become Public Records Avoiding a Race To The Jackpot Attorneys’ Office Documents Aren’t Secure 5.3. Felonious Heirs 5.4. Taxes 5.4.1. Secret Transfers 5.5. Legal Trusts 5.5.1. Make Your Wishes Known 5.6. How To Find An Estate Planning Lawyer? 5.6.1. Check Public Discipline Records 5.6.2. Interviewing Prospective Lawyers Understanding How Lawyers Bill For Time 5.6.3. What is a Retainer Agreement? 5.7. Keeping Legal Costs Down 5.7.1. Be Prepared 5.7.2. Firing Your Attorney 6. Keeping It Fresh 7. Conclusion 8. Want More? 8.1. Please Review This Book 8.2. Sign Up and Keep Up A. Smart Contracts For Inheritance Planning A.1. Distribution of Assets Isn’t the Real Problem A.2. Problems with Software-only Inheritance Planning A.3. Oracle v Dead Man’s Switch A.3.1. Today the Tech Is Too Immature A.4. When a Dead Man’s Switch Might Be Useful A.5. Smart Contracts in Inheritance Planning Today B. Acknowledgements C. Keys, Seeds, and Access Code Templates D. SURE Evaluation Template E. Letter to Loved One Template