Estate planning for hobbyists and collectors http://www.smh.com.au/money/estate-planning-for-hobbyists-and-collectors-20171109-gzhxe5.html This subject came up a little while ago (here) but it's worth thinking about if you've got a bit of spare time over the Christmas break. There's a neat summary of DIY will kits from Choice here if you've got a spare couple of hours and you've been putting it off: https://www.choice.com.au/money/fin.../financial-planning/articles/will-kit-reviews
In my case, i am educating the children about it and share the joy of it with my wife. Probably children will not cherish them in the future due to digitalisation of most of the things. I had planned to separate all my collection in 1 room except PM. My children was sharing their knowledge in crypto currency as well. I showed them as well how important those things and how to exchange them in money. I made them involved and keep telling some stories every now and then. They are appreciative in my social media accounts which some of my collections are uploaded on it. In this case, i know they have at least a knowledge in the value and time spent on these things. I fervently sure that my passion on all these matter will always be recognise by at least anyone of them when i fell six feet on the ground.
Something else to think about is the rise of mobile money - a number of members here have crytpos, or investment apps like Robinhood or Acorns. If you pass, will anyone know that you have five figures worth of bitcoin in the form of a folded piece of paper in the bottom of the sock drawer - or on your phone behind a pin, password, two factor authentication and a twelve word security phrase.
I am in mobil money+BTC where we use them in paying bills. We are using an application that is locally versatile. This just came into my mind as well that we have to make a series of password and list of pins. Also security answers with questions as well. We always put them in a special location where all our mementos for 28 years are kept. All digital inscriptions, bank informations and cards, including computers, laptop, mobile phones, crypto wallets should have a secure place and only accessible to entrusted person. Year by year things became more complicated and needs to keep up with securities. Really very hard to maintain them, a bit of upgrading in all items, decluttering many information from time to time to keep them neat and easy to remember. Any untoward incident that may occur, this will make easy for them to extract data.
