Free from The Bitcoin You Leave Behind
Just inherited Bitcoin? Nothing is on fire.
You don't need to understand Bitcoin to get through the next thirty days, and you don't need to decide anything today. Bitcoin doesn't expire and doesn't need to be moved to stay safe. The fast mistakes are the expensive ones.
The first 30 days
- Don't move anything yet. Moving Bitcoin is permanent. Moving it before you understand what you have is how mistakes happen.
- Secure the papers. Put any letter, list, notebook or device related to their Bitcoin somewhere safe. Don't photograph seed phrases or passwords, and don't type them into anything.
- Don't post about it. Not on social media, not in a group chat. Telling people you inherited Bitcoin makes you a target.
- Look for their instructions. A letter of instruction, a list of accounts, a note with the estate papers. Read it slowly and do the first step first.
- Get several copies of the death certificate. Each company involved will want one.
- Contact companies the right way. Go to the exchange, app, custody company or brokerage's official website yourself and find its estate or deceased-customer process. Never use a phone number or link someone sends you.
- Talk to the estate attorney or executor before you take anything out of anyone's name.
- When you do move anything, send a small test amount first. Then the rest.
The one exception to "no clock": investment accounts with open options contracts or loans can have dates attached. If you see anything like that, take it to a professional early.
Holding keys you weren't legally left? Even if you were promised it, don't move it. Get advice first.
Three rules that stop the scams
Already been hit? You're not alone and you're not foolish. Report it, tell someone you trust, and be wary of anyone who then offers to recover your money. That's a second scam.
Write it down here
When things are calm, you'll decide what to do with it. You're allowed to keep it, sell it, or give it away, and you don't owe anyone an explanation.
From The Bitcoin You Leave Behind: A Guide for the People Who Hold Bitcoin and the Families Who Inherit It by William Dean · williamdeanbtc.com
General information only, not financial, legal or tax advice. Rules vary by state; talk to the estate's attorney before moving inherited assets.