How to deal with Bitcoins (or other crypto-cash) in a Will

Question: I’m one of the lucky ones who bought five #bitcoins in good time. But what if I die?

Answer: As soon as you create a Bitcoin wallet, you will receive a private key and a public key. To convert the value in the wallet into money you need the private key.

If you put the code of the private key in your computer or in your encrypted backup unit, your heirs must know the password of your computer or that unit. And it often goes wrong here, because you change your password regularly, don’t you? 

You can deal with this in several ways, depending on what suits you.

You can print the private key in your safe, and give your executor the key to the safe (with a safe you naturally have the same problem as with a computer; the heirs should be able to access it). Or…
Have a joint password manager (with your partner – heir) for all your portals. Then he or she can always join you, whether you are dead or alive. As soon as you split up, you should no longer do this, of course. Or…
You can register the private key as an attachment to your will.

Note: the unique thing about a bitcoin is that it is not under any jurisdiction, which is the case with your other assets.
So if you already have a will in the Netherlands, and no will in the UAE yet, I recommend registering the private key in the Netherlands. An adjustment of your will is not necessary because it is an attachment.