<img src="https://vault12.com/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yODE4MTMwMC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTc3NTQ3MDk5Nn0.oWgzTdRUJKTXdrSLrvdUaKX7CAV5kR7I6PFgF2_6Wj8/image.jpg?width=980" /><br>
<div>
<div class="rebellt-item
col1" id="rebelltitem22" data-id="22" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/particle-22" data-basename="particle-22" data-post-id="2655939008" data-published-at="1729716049" data-use-pagination="False"><p>As digital assets like cryptocurrencies and NFTs rise in popularity, it's crucial for participants in this evolving landscape to devise a strategy for passing these assets on to future generations. If you’re involved in the crypto space, you must consider what will happen to your investments after you pass away. The unique challenges posed by digital assets require careful planning to ensure your loved ones can benefit from them in the future. We are here to assist you in navigating these challenges, allowing you to move forward with assurance and tranquility.</p></div>
<div class="rebellt-item
col1" id="rebelltitem1" data-id="1" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/key-highlights-about-digital-asset-inheritance" data-basename="key-highlights-about-digital-asset-inheritance" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><h2 data-role="headline">
Key Highlights about Digital Asset Inheritance
</h2><ul><li>Traditional estate planning does not adequately address the new complexities and risks associated with digital asset inheritance.</li><li>A significant risk is failing to create or maintain an accurate inventory of digital assets, resulting in potential loss.</li><li>Another critical risk involves relying on an unreliable third party to manage access credentials for your digital assets. Choosing the wrong individual or organization could lead to asset loss, unauthorized transfer, or premature access attempts.</li></ul>Modern solutions for digital asset inheritance must offer innovative methods for managing inventories of digital assets, safeguarding Web3 holdings with privacy and cutting-edge security, and incorporating your trusted Guardians throughout the process. Vault12 proudly introduces the Guard app to tackle these issues.
</div>
<div class="rebellt-item
col1" id="rebelltitem13" data-id="13" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/introducing-digital-inheritance" data-basename="introducing-digital-inheritance" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><h2 data-role="headline">
Introducing Digital Inheritance
</h2><p>Watch the video below for a concise introduction to Digital Inheritance.</p><span style="display:block;position:relative;padding-top:56.25%;" class="rm-shortcode" data-rm-shortcode-id="168e19fdb53002ef3c65826db1901427"></span></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem14" data-id="14" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/what-is-needed-for-traditional-and-digital-inheritance-at-a-high-level" data-basename="what-is-needed-for-traditional-and-digital-inheritance-at-a-high-level" data-post-id="2655939008" data-published-at="1721284455" data-use-pagination="False"><h2 data-role="headline">
What is needed for traditional and Digital Inheritance at a high level?
</h2><p>When planning the inheritance of both traditional and digital assets, it’s vital to consider several general requirements. The approach will differ based on whether the assets are traditional or digital, as each category presents unique risks.<br/></p><p>1. Identify your beneficiaries.</p><p>2. Establish a legally binding will. </p><p>3. Prepare - <strong>and</strong> <strong>maintain</strong> - detailed instructions for transitioning your various assets. </p><p>4. Engage in some form of secure storage for your inheritance plans.</p><p><em>Source: Cremation institute: </em><a href="https://cremationinstitute.com/cryptoasset-inheritance-planning/" target="_blank"><u>https://cremationinstitute.com/cryptoasset-inheritance-planning/</u></a></p></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem20" data-id="20" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/what-digital-inheritance-risks-are-related-to-beneficiaries" data-basename="what-digital-inheritance-risks-are-related-to-beneficiaries" data-post-id="2655939008" data-published-at="1721322220" data-use-pagination="False"><h2 data-role="headline">
What Digital Inheritance risks are related to beneficiaries?
</h2><p>In traditional inheritance, an executor is responsible for ensuring that each beneficiary receives their intended assets at the appropriate time. Similarly, a solid digital inheritance plan must ensure that no beneficiary can prematurely access their inherited assets.</p><blockquote><em><strong>RISK - Granting your intended beneficiary digital access to your assets today could enable them to access the assets before they are supposed to. Furthermore, anyone else privy to the instructions may gain inappropriate access.<br/></strong></em></blockquote><blockquote><em><strong><em>RISK - If you provide a lawyer or executor digital access to your assets to hold for a beneficiary, various third-party risks arise: the firm may not properly secure the assets, leading to potential loss or theft, or it could go out of business or have the assets seized.</em><br/></strong></em></blockquote>Vault12 Guard involves beneficiaries in your digital inheritance plans without the risk of premature access, as well as reducing the chances of a custodian misplacing assets before they reach the intended beneficiaries.
</div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem18" data-id="18" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/what-digital-inheritance-risks-are-related-to-writing-and-maintaining-instructions" data-basename="what-digital-inheritance-risks-are-related-to-writing-and-maintaining-instructions" data-post-id="2655939008" data-published-at="1721284455" data-use-pagination="False"><h2 data-role="headline">
What Digital Inheritance risks are associated with writing and maintaining instructions?
</h2><p>Your digital assets could comprise unique artworks, fungible cryptocurrencies, essential documents, or a combination of these. Depending on the asset type, specific instructions may need to communicate where each asset resides and include all relevant PIN codes, seed phrases, and passwords associated with it.</p><blockquote><strong>RISK - You might document your assets and access codes incorrectly or inadvertently omit some.</strong></blockquote><p>Updating your instructions regularly is crucial! Digital asset portfolios can change rapidly, and relying on a one-time inventory is risky. Traditional methods require amending your instructions each time a new digital asset is added along with all the necessary access details. Any mistakes or omissions can result in inaccessible assets and wasted efforts.</p><blockquote><strong><em><strong><em><em><strong><em>RISK - Forgetting to update the list of digital assets or their access information.</em></strong></em></em></strong></em><br/></strong></blockquote><p>You also need to ensure that these detailed (and frequently changing) instructions are protected from access by unauthorized individuals or staff. In fact, safeguarding these instructions from potential theft is essential.</p><blockquote><strong>RISK - Your instructions could be flawless, yet they may reach the wrong individuals. <br/></strong></blockquote><p>Vault12 Guard streamlines the process of creating and storing your asset access instructions while reminding you to test and confirm that the access procedures are accurate. </p></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem19" data-id="19" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/what-risks-are-related-to-storing-your-digital-inheritance-instructions" data-basename="what-risks-are-related-to-storing-your-digital-inheritance-instructions" data-post-id="2655939008" data-published-at="1721284455" data-use-pagination="False"><h2 data-role="headline">
What risks are associated with storing your Digital Inheritance instructions?
</h2><p>In traditional inheritance, one might rent a safety deposit box at a bank or another secure physical location.</p><blockquote><strong>RISK - Safety deposit boxes may not always be secure or accessible during scenarios like pandemic bank closures, and they often lack insurance against loss or theft.</strong><br/><span/></blockquote><p>The Vault12 Guard app offers a safer alternative for keeping your digital asset inheritance instructions than a safety deposit box or any other physical location.</p></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem9" data-id="9" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/why-was-the-digital-inheritance-company-vault12-created" data-basename="why-was-the-digital-inheritance-company-vault12-created" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><h2 data-role="headline">
Why was the Digital Inheritance company Vault12 established?
</h2><p>Our CEO and co-founder previously worked on early crypto ventures at Andreessen Horowitz, a leading venture capital firm in the blockchain sector. He recognized a significant gap: there was no comprehensive solution to back up and secure seed phrases and private keys, nor was there a method to pass on assets directly to a designated recipient upon death or incapacitation. This insight led to the creation of Vault12!</p><p>Beyond the personal tragedy of failing to transfer digital assets to heirs, unplanned “death events” in the crypto world often result in significant amounts of cryptocurrency being permanently lost. This loss diminishes the overall supply of coins accessible to current and future participants. If left unaddressed, this issue could escalate into a more substantial crisis for the crypto industry, particularly as it gains mainstream traction, reducing the availability of digital resources for incoming users in unforeseen ways.<br/></p></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem10" data-id="10" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/how-does-vault12-digital-inheritance-clarify-your-intentions" data-basename="how-does-vault12-digital-inheritance-clarify-your-intentions" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><h2 data-role="headline">
How does Vault12 Digital Inheritance clarify your intentions?
</h2><p>Vault12 Digital Inheritance is the pioneering solution offering a straightforward, secure method for all types of investors to ensure their digital assets are preserved for future generations.</p><ul><li>Using conventional approaches to digital asset inheritance introduces unnecessary complexity and risk.</li><li>Your digital asset portfolio is constantly evolving—conducting a one-time inventory is not sufficient; continuous assistance is needed.</li><li>Vault12's streamlined Digital Vault solution with trusted Guardians accommodates different digital asset types and alleviates uncertainty regarding asset availability to designated recipients, eliminating the need to individually engage with each service provider during probate for access.</li></ul></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem11" data-id="11" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/how-does-vault12-digital-inheritance-work" data-basename="how-does-vault12-digital-inheritance-work" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><h2 data-role="headline">
How does Vault12 Digital Inheritance function?
</h2><ul><li>The Vault12 Digital Inheritance solution provides an app for securing, backing up, and safeguarding your digital assets. It enables you to name a beneficiary who can inherit your complete portfolio of digital assets stored in your Vault when the time arrives—no ongoing inventory updates or revised instructions required.</li><li>Assets such as cryptocurrencies, financial logins, legal documents, medical records, and more can be added to a Vault12 Digital Vault.</li><li>The Vault is secured by a network of Guardians—friends, family, and trusted associates.</li><li>A beneficiary is designated by the Vault owner from among the Guardians, and a digitally signed declaration is sent to the beneficiary and, if necessary, lawyers.</li><li>Upon the Vault owner's passing, when the beneficiary seeks to access the digital assets, a specified number of Guardians must approve the request, allowing the assets to be restored and access granted to the beneficiary.</li><li>Should the beneficiary attempt to access the assets before the owner passes away, the owner has the ability to deny the request.</li></ul></div>
<div class="rebellt-item
col1" id="rebelltitem12" data-id="12" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/vault12-maintains-digital-asset-inventory-and-provides-private-access" data-basename="vault12-maintains-digital-asset-inventory-and-provides-private-access" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><h2 data-role="headline">
Vault12 manages Digital Asset inventory and offers private access
</h2><p>Vault12 Digital Inheritance was crafted to mitigate the risks linked to managing digital assets and prepping them for future transition:</p><ul><li><strong>Comprehensive Digital Asset Inventory</strong>: Designed to accommodate all types of digital assets. Utilizing it to secure and back up an investor’s entire range of assets provides a current inheritance inventory.</li><li><strong>Direct access for the designated individual</strong>: Provides an easy and efficient means for the designated individual to access their digital assets without needing to petition several services or financial institutions. </li><li><strong>Privacy</strong>: Guarantees that, unlike multi-sig solutions, details about the digital assets remain confidential—even from lawyers.</li></ul></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem5" data-id="5" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/what-are-some-personal-stories-of-digital-inheritance-failures" data-basename="what-are-some-personal-stories-of-digital-inheritance-failures" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><h2 data-role="headline">
What are some personal accounts of Digital Inheritance failures?
</h2><p>There is a growing number of these stories emerging with concerning frequency:</p></div>
<div class="rebellt-item
col1" id="rebelltitem7" data-id="7" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/particle-7" data-basename="particle-7" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><ul><li>In April 2018, Matthew Mellon, an heir to the Mellon family banking legacy and previous chairman of the NY Republican Party finance committee, passed away. At the time of his death, he possessed an estimated $1 billion in Ripple (XRP) - yet all of it remains inaccessible as he left no instructions, despite having secured the cryptocurrency in cold storage across multiple locations within the U.S., each under different names. <br/><a href="https://fortune.com/2018/04/17/matthew-mellon-crypto-billionaire/" rel="noopener noreferrer" target="_blank"><u>https://fortune.com/2018/04/17/matthew-mellon-crypto-billionaire/</u></a></li></ul></div>
<div class="rebellt-item
col1" id="rebelltitem8" data-id="8" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/particle-8" data-basename="particle-8" data-post-id="2655939008" data-published-at="1638908994" data-use-pagination="False"><ul><li>In 2017, an unidentified young cryptocurrency investor in Colorado passed away with a significant amount in a Coinbase account. Unfortunately, the family lacked access to the account and had to approach Coinbase directly. After a lengthy process, the assets were ultimately released. Had the account holder not been a U.S. citizen, this would have been a far more complicated scenario.</li></ul></div>
<div class="rebellt-item
col1 rebellt-question" id="rebelltitem21" data-id="21" data-reload-ads="false" data-is-image="False" data-href="https://vault12.com/learn/why-care-crypto-inheritance/ready-to-ensure-your-inheritance-of-crypto-assets" data-basename="ready-to-ensure-your-inheritance-of-crypto-assets" data-post-id="2655939008" data-published-at="1721322416" data-use-pagination="False"><h2 data-role="headline">
Ready to secure your inheritance of crypto assets?
</h2><p>We invite you to visit the Vault12 website for further information, and join us in the new frontier of Digital Inheritance. In just a few minutes, you can download the Vault12 Guard app and safeguard all of your digital resources.</p></div>
</div>Understanding Crypto Inheritance: Protect Your Digital Assets[embed]https://www.youtube.com/watch?v=6fSu_99sy0A[/embed]
Leave a comment
