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Inheriti Deep-Dive Series // 003 : Why Traditional Inheritance Plans Don’t Work for Digital Assets

Welcome to the third article in our Inheriti Deep-Dive Series.

Assuming you’ve read the previous article in this series (or perhaps watched the accompanying video), you’ve now considered all the many reasons for setting up a digital inheritance plan and you’ve come to the conclusion that your life will be better if you create one.

In later articles, we’ll tell you more about all the reasons you might choose Inheriti — Safe Haven’s flagship product that is available for use now — as your preferred digital inheritance and private key backup solution.

But first, let’s talk about all the wrong ways you might consider to pass your digital assets onto your loved ones.

Inheriti: the only truly decentralized (and totally secure) digital inheritance and private key backup solution in the world.

Looking for Solutions In All the Wrong Places

Research recently conducted by The Cremation Institute in 2020 reveals that a massive 89% of cryptocurrency investors worry about what will happen to their assets after they die.

Yet, despite this worry and real threat of losing their hard-earned crypto assets, only 23% of investors have a documented plan.

The study also revealed that even though 23% have a plan, they all use a range of insecure methods that typically involve leaving behind detailed instructions on how to access their funds for their next of kin.

These methods include leaving instructions in the household (65%), on computer (17%), on USB (15%), in safety deposit boxes (2%) or ‘other’ (1%).

Traditional Digital Inheritance Methods Used By Cryptocurrency Investors (The Cremation Institute, 2020)

Let’s examine the various flaws of each …

#1 — In the Household: Go Old School and Make Paper Copies (65%)

Many long-time crypto holders have opted for this method — making copies of your seed phrases and then hiding them in one (or more) locations around the house.

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