Hardly anyone likes to think about their own mortality. Nevertheless, death is inevitable. It is not only doctors who rightly point out again and again how important precautions are for emergencies. Not only are wishes regarding medical care important. It is also important to consider how finances should be arranged with a view to the heirs. In this way, disputes among the bereaved can be ruled out even during their lifetime. While the distribution of shares<\/a>, cash and similar classic investments can be arranged relatively easily, investments in digital currencies deserve special attention. How can I bequeath Bitcoin without causing problems for my heirs? This aspect will be discussed below \u2013 from both a purely legal and technical point of view. <\/p>\n The separate consideration of the aspects in the field of technology on the one hand and the characteristics of a legal nature on the other is quite crucial. Without a technical understanding of how it works, it will be difficult for surviving relatives with claims to take up their inheritance. Terms such as wallet, personal keys and other technical terms must be known in order to benefit from the proof. Crypto owners who have misplaced or lost their access data can sing a sad song about the typical problems when accessing holdings. The legal framework for crypto inheritances is now largely equivalent to that for classic inheritances in many places. In other words, concealing large inheritances in cryptocurrencies such as Bitcoins or altcoins from Ethereum to Zcash from the tax authorities can have tax consequences. However, certain allowances also apply. Depending on the family relationship between the deceased and the heirs, no taxes may be payable. <\/p>\nNot Only the Technical Side Deserves Attention<\/h2>\n
| Worth knowing:<\/p>\n \u2192 When people bequeath Bitcoin, many authorities find it difficult to determine the actual value of the inheritance. One reason for this is the sometimes enormous fluctuations (volatility) in the prices of digital currencies. <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Owners of cryptocurrencies in particular still tend to give too little or no thought to how they can bequeath currencies such as Bitcoin. However, precautions are advisable here too. After all, a major dilemma for heirs is that there is basically no assistance to restore access data to digital wallets, i.e. to crypto wallets<\/a> \u2013 if this data cannot be found, access to such an inheritance fails. In the meantime, there is also specialist literature on the subject of bequeathing Bitcoin. One example is the work \u201cStoring and Inheriting Bitcoins: A Practical Guide\u201d by the author Markt Steiner. The basic message of such books, as well as numerous websites that deal with the inheritance of Bitcoins and Co., could probably best be summarised as follows: Early planning prevents problems after the death of a testator. <\/p>\n |