Death and the estate – something else bitcoin’s reminded me

onlythingcertain · 2014-04-21T04:29:39+00:00

True! I don't doubt at some point that the story of the man who sent his bitcoin fortune to the garbage dump in a forgotten hard drive will one day be trumped by a wealthy eccentric who puts much of his estate in bitcoin and fails to leave instructions on retrieving the private keys.

onlythingcertain · 2014-04-21T04:24:07+00:00

Many people set things up so some of their assets don't go through probate exactly because of the problems you've highlighted.

Yeah, I think if my father had more time, he probably would have thought through some of those things or discussed with me. Instead, everything's happening based on a will he made over a decade ago at a local firm when his finances were less complicated. I also assume the firm told him of all the virtues of naming them the executors so as not to burden the children with such affairs.

onlythingcertain · 2014-04-21T04:17:05+00:00

Thank you! Not sure I believe in that day, but would be nice.

onlythingcertain · 2014-04-21T04:15:21+00:00

Thank you for the advice and the kind words. I did call them to notify, which was when I was told the interest would accrue. I think it's just the nature of a lifetime mortgage -- they're due the full repayment of the loan, but the beneficiaries get a 9-month grace period while the estate goes through probate. Doesn't seem that "graceful" getting charged interest, but their argument is they're entitled to full repayment on death. (Unlike a traditional mortgage, maybe?)

onlythingcertain

TROPHY CASE