Tag Archives: estate

You’re dead…so what happens to your Bitcoins?

There’s been a BitCoin lot of discussion about digital assets and what happens to your bitcoin accounts when you die. When we checked a while ago, we were told that after a certain period of inactivity, your Bitcoin account will disappear and the money you have in it will be gone forever. If you haven’t given your login, password and digital key information to the person(s) you’d like to inherit the money, they cannot access your Bitcoin wallet and they’re out of luck.
Recently, a few companies have tried to address this important issue. One we came across is Bitcoin Estate Plan. Their premise is simple. They automatically deliver bitcoin wallet access instructions to your heirs upon your death or incapacitation. This is accomplished through email, phone and/or a written letter via the postal service. You tell them who you want them to contact and the message you want them to send.
The company “will then email or phone you periodically to confirm that you are still alive. If you do not respond after a specified number of attempts the system will deliver your message to your intended recipient(s) by email, snail mail or phone depending upon which service plan you choose.”
It would be cheaper for you to share the necessary information with your heirs prior to your death. However, if you do, they will have the ability to access your funds at any time. A better option to consider might be a company like Bitcoin Estate Plan. That way, your money won’t disappear when you do.

For more information about digital assets and how to protect them, read our book “Access Denied: Your Digital Estate – Why Passwords Are Now as Important as Passwords”. It’s available at Amazon. Also, check out our website www.diesmart.com.

Dinnerware made from your loved one’s ashes!

Last week, I wrote about glass art that can be fused with ashes from a deceased loved one. This week, I came across something even more bizarre.

Chronicle Cremation Designs has launched a range of custom ceramic dinnerware glazed with the cremated ashes of dead loved ones. Here’s what it says on their website.

Justin Crowe, based in Santa Fe, New Mexico, mixes cremated human ashes into a glaze which he uses to coat bowls, vases, candle holders, coffee cups, urns and other ceramic items. Once they’ve been fired in a kiln, the glaze becomes food- and drink-safe, which means you could perhaps drink a coffee with an aura of grandma, or use something of old uncle Bernard to serve roast potatoes.

The idea developed out of an art project in which Crowe used the mixed ashes of more than 200 people to create a dinnerware collection called Nourish, and then used it to serve food at a party.

“I wanted to create a dinnerware set that infuses a sense of mortality into everyday life,” he said, explaining that he bought human remains from bone dealers (who typically sell to medical professionals, students and oddity collectors) and then turned them into ash in the kiln before grinding them up with a mortar and pestle. He then mixed the powder into a glaze.

Now, you can send in about a cup of ashes from the remains of your loved one and have it made into an item that you can use every day.

This is definitely something for everyone, but….

For more cremation and funeral ideas, go to our site diesmart.com.

5 ideas to consider when doing estate planning

If you have a spouse and family, you’ll probably leave everything to them. However, if you don’t have a spouse or kids and you’ve been procrastinating doing your estate planning because you’re not sure what to do about all of your stuff, here are 5 ideas you should think about consider. We found them in the Rapid City Journal.

Consider leaving something to close friends, caregivers or anyone else who you are close to.
Think about charities that are meaningful to you. What organizations have goals that match your own?
Think about where a donation could benefit your community. There are places like libraries, volunteer fire departments, arts organizations that would welcome some extra funds. What about giving a piece of art to a hospital or buying a park bench?
Build relationships with people who share your interest in collections of antique, tools or other items. Then you can pass along your collections to people who will appreciate them and remember you.
Don’t wait until you’re gone. Consider donating collections to museums or giving personal possessions that you value but don’t necessarily use to someone who would appreciate them.

For more information about estate planning, go to www.diesmart.com.

Who has your healthcare power of attorney?

A healthcare power of attorney is the document where you name the person who will make medical decisions on your behalf when you are unable to do so. Equally as important as having this document is telling your family who it is and why.

A legal battle started a short while ago disputing whether Sumner Redstone, the 92 year old titular leader of both CBS and Viacom (who earned a combined $24 million in compensation from the companies in fiscal 2014), still has the mental capacity to make informed decisions.

The suit was brought by Manuela Herzer, a former companion to Mr. Redstone. The two dated between 1999 and 2001 and, according to her, still maintain a close relationship. She was legally designated as the person to make Mr. Redstone’s medical decisions. However, in October, new documents were executed that stripped her of this power and named, instead, Phillippe Dauman, Redstone’s longtime lawyer and CEO of Viacom. In court filings, Ms. Herzer claims that Mr. Redstone does not have adequate mental capacity to replace her and has asked the court to make him undergo a medical evaluation to prove her point.

Most of us don’t earn $24 million dollars in one year and don’t have the kind of net worth of Sumner Redstone. However, the point is still as valid for you and me as it is for him. If you make changes in your healthcare power of attorney or other legal documents that relate to who can make decisions on your behalf, it’s a good idea to tell those involved so they will be aware of what you’ve done and why.

For more information about a healthcare power of attorney and other estate planning documents, go to www.diesmart.com.

Haunting story of a lonely man’s death

george Bell I read this story in the New York Times a few days ago and it still haunts me.

The Lonely Death of George Bell tells about a man who died alone. No one realized he was gone and there was no one to plan his funeral or settle his estate. This story goes thru the saga of what happened to him, what he left behind and who had to deal with all of it. It’s more like a novella than an article but it’s well worth taking the time to read it. I did and can’t forget it!

For more information about issues related to dying and settling an estate, go to www.diesmart.com.