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In the event laBITconf, which took place from December 5 to 8 in Chile, a publication was presented that offers a guide on the declaration of inheritances in cryptoactives, which includes a free template that is already available in Spanish.
The publication was presented during the conference given by Pamela Morgan, CEO of the company Empowered Law & Board Member Cryptocurrency Certification Consortium, and is entitled Planning the inheritance of cryptoactives, a simple guide for owners called Letter to Loved Ones. loved ones), which is available on the empoweredlaw.com site.
The template is part of Morgan’s book and is recommended as a declaration format of the assets that are held in cryptocurrencies. Although its use does not guarantee that loved ones can access the assets, it can be part of the process of creating an inheritance plan, according to the author. The importance of owners defining what will happen to their digital assets, once they die.
So far, most people do not have any plans about it and the usual practice is to leave the passwords to a friend or close person. In any case, the idea is to allow that after our death, relatives or friends “who perhaps have no idea of what Bitcoin or a cryptocurrency can recover the funds without our help”.
Part of the plan recommended by the author is to use the template and draw up a letter that includes an inventory of the digital assets that are possessed, with explanations and details on how to access the cryptoactives.
In this way, the relatives will have at hand a document that gives them indications about what they have at their disposal. This includes information on the portfolios and / or exchange houses where the cryptoactives are deposited, where the procedures to be followed are specified to have access to them. In addition, it is advisable to leave instructions for the use of key chains or cold wallets that contain funds in cryptocurrencies. The existing difficulties for the successor declaration of this type of assets, taking into account that there are no intelligent contracts for this (with legal rank). In this sense, the speaker mentioned the emergence of some projects that plan to focus on this area, however, she recommends not entrusting our private keys and cryptocurrencies to a third party.
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