It's not a nice subject but one we need to talk about, my partner and I; we're not the type of couple who shies away from difficult things, discussions included, so we tackled this one head on with positive results, a clear way forward and a good feeling afterwards.
What do I do when you're gone?
It's a simple question and one we have covered from all relevant angles which makes sense to us. Dealing with the complexities of losing a partner can be terrible enough but when decisions need to be made while in the process of grieving what may seem like easy decisions at other times become major hurdles and that's when mistakes occur, or avoidable heartache and stress.
I won't delve into our personal situation but will go as far as saying that if one of us were to die suddenly, grief aside, the other would know what to do and how to do it - even if that's simply where to go for help to get things moving towards resolution. We have worked towards this situation and have paperwork in place, phone lists of who to contact for what and even have our funeral events planned and paid for. We have learned the hard way that failure in preparation can be a terrible burden to carry when grieving and vowed never to put the other person into that position - It's the responsible and caring thing to do.
One area that is not covered though, an area that is quite complicated.
When it comes to cryptocurrency I have almost no clue and that's a problem considering my partner has so much of it. This is what we were discussing as we see the need for preparation around this matter just like with our other financial and life-situations we have arranged.
My guy explained a few things for me and we worked on a document that outlines what his current holdings are, how and where they are all connected and where passwords and other security measures can be found as well as how they're utilised; the latter all seems very complicated to me. I'll admit to it all being quite confusing but I'm clearer on it than I was before and that means we're a little more prepared should something happen.
I know how I'm going to feel if something were to happen to my partner; I'll be broken, devastated and distraught and cryptocurrency will be the last thing on my mind. Over time it's something I'll need to face though and without some prior planning I'd have no idea where to start. We are still working on a plan to make it as easy as possible for me to deal with and have a way to go however we both feel better knowing it's something we are actively working on and are seeking viable solutions for.
Oh, one of the things we decided to do to help me understand a little better is for me to begin my own portfolio of cryptocurrency which, I guess, has already started considering I'm on Hive; I'll be doing some buying in the weeks ahead but that's a different post so I'll leave it until then.
It's a discussion that needs to be had and it's good you have done it. I have had a similar discussion with my Good Lady although she isn't interested in starting a portfolio of her own. I don't blame her 🤣
May the day such preparation is needed in practice be long away!!
It seemed the right thing to do and I've avoided it for probably too long. I'm not very interested in it all, same as your wife I suppose, if I'm quite honest but the boy has worked hard at it so out of respect I'll get more involved and understanding of it.
Becca 🌷
(u r sounding so positive), i feel, Not necessarily, it could be other way round too. but it is good to keep a note of all the investments of wealth and documents easily accessible to the closed one. I also belive that life is unpredictable, and in my family not all are so conversant with crypto currency. Still I kept everything documented. May be the time will let them make use of it fully.
Documenting things is a good thing to do as it will help those you leave behind make sense of it all and hopefully helps to provide them with some proceeds from your hard work.
Becca 🌷
It is a very complicated situation to prepare everything in case the worst happens, but being prepared is the best thing to do. Learning about new issues can be challenging but I know you will do well. A few years ago I had no idea about cryptocurrencies, it cost me a lot but you learn everything.
Preparation is key.
Hugs Becca.❤️
I don't mind learning new things but with this particular ting I have little to no interest which makes it a bit more difficult to learn, I'm trying though.
Becca 🌷
You will do very well, I have no doubt about that.🤗
It is a sensitive topic, and I'm glad that you are both prepared for it and have talked about it. I have seen some posts where they also consider the difficulty of leaving behind crypto. Giving the passwords early is usually not ideal since an additional person that knows is another weakness in security. Some have suggested splitting the seed phrase to the partner and a law firm for some security. Starting to be familiar with crypto is a good start though.
It's always a security risk I think, sharing information, but my partner and I trust each other and operate as a team so it will work out; we feel better knowing we're a little more prepared for what may happen in the future.
Becca 🌷
That's good to know. I've heard of a lot of couples where they hide their finances from each other.
Thanks for sharing this post @becca-mac!
I personally feel that this is definitely something that all couples / family should be talking about more openly.
My wife and I discussed about the what-ifs too. After my wife had a health scare late last year and was hospitalized, we had some time to think about things and how the other party would feel (aside from the grieving of course) from a sudden lost. As a result, one thing we got set up was getting a password vault through a paid application to secure and store our sensitive information in the case of when either of us are gone.
It makes a lot of sense to have things in place for situations like this because it's going to eventually happen to us all; being prepared makes things less difficult.
I hope your wife got through her issues ok and is doing well.
Becca 🌷
Yeah thank you for your concern, she is feeling alot better now!
Though the conversation may sound dark to some extent, it is never wrong to be prepared for what is likely to come. It will definitely help ease the transition or serve as a protection for the partner in the future! 😁
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Alright. It's a difficult but necessary topic. The thing is, many people resist talking about this because they think they'll live forever. Then come the problems and bad agreements, against the will of the person who passed away and who ultimately should have decided what to do with their assets.
I think it's great that you have your cryptocurrency portfolio and that you're learning all about it.
Hugs, Becca.