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allows the owner access to the wallet’s contents. This means that when you
die, your heirs may discover your Bitcoin wallet, but will be unable to gain
access thereto without the private key.

The easiest way to ensure that your Bitcoins can be transferred to your heirs
is to ensure that someone has a copy of the private key by writing it down,
storing it on a memory drive or entrusting it with a company or a trusted
financial advisor or attorney who can give it to your family after your death.
Commercial It is also a good idea to bequeath your Bitcoins formally in your will and
identify who has a copy of the private key. Although it won’t form part of the
physical assets of your estate to be administered, this will help ensure that
there is no uncertainty as to whom you wanted to gain access to your wallet
after your death.

I would suggest discussing your Bitcoin portfolio with your estate planner with
a view to formally providing therefore in your will.

How should I plan for my minor child to inherit?

Johnny Davis
January 2018

“My wife and I have a young daughter. We are planning to update our estate
planning to provide that our daughter inherits everything should both of us
pass, but have been wondering what will happen if this happens while she is
a minor? Can we plan for this eventuality?”

Our law determines that minor children (under the age of 18) cannot enter
into contracts without the consent of their legal guardian (parent or court
appointed guardian). By implication, this limitation also prohibits minors from
inheriting assets while they are still minors. Rightly so, it raises the question of who
will look after assets that a minor child stands to inherit.
A trusted way of ensuring that the inheritance of a minor child is protected until
the child becomes a major is to have the parents set up a trust. Such a trust can
be set up during their lifetime (an inter vivos trust) or their will can be drafted
to provide for a trust to be established on their death (a testamentary trust).
Although the process for setting up these trusts may differ, the end result is same,
namely that the minor’s inheritance will be administered on the minor’s behalf
by the appointed trustees of the trust.
A trust can own property, receive donations and inherit money from your
estate when you die. What makes a trust a very good choice, is the fact that

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