Digital assets expert Vincent Van Code urges XRP holders to think about the future of their assets if they don’t provide access to their loved ones after passing.
The Risks of Cold Wallets
Cold wallets, both hardware and paper, are among the most secure ways to store cryptocurrency. However, they require clear instructions for access. Van Code stresses that it's not enough to simply own a device or write down your seed phrase. The real risk lies in whether anyone else knows how to find and use that information when you're no longer around.
Leave a Clear, Accessible Trail
Van Code urges XRP holders to create a detailed, easy-to-understand access plan for their loved ones. This document should clearly explain where the wallet is stored, how to unlock it, what assets are in it, and how to manage or liquidate them. Don't assume your heirs understand blockchain basics; write the guide as if explaining crypto to a complete beginner.
Legal Backing for Digital Assets
From a legal standpoint, it's vital to formally include your crypto holdings in your estate plan. This can be done through your will or a separate letter of instruction. However, as Van Code points out, never include private keys or seed phrases directly in your will, as wills become public documents during probate. Instead, reference the existence and secure location of your access instructions in the legal paperwork.
Vincent Van Code's message serves as a crucial wake-up call to XRP holders and the broader crypto community. True ownership doesn’t end with securing your tokens; it also includes ensuring they remain accessible after you're gone.
