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Bitaroo Estate Transfer Process

  • Updated

How can an executor access and transfer Bitcoin held with Bitaroo for an estate?

Transferring bitcoin held with Bitaroo to the appropriate recipients as part of an estate involves several key steps. Below is a guide for executors to navigate this process effectively.

  1. Notification and Documentation:

    • The executor must notify Bitaroo of the account holder's death. This typically requires providing a death certificate and proof of executorship, such as a grant of probate or letters of administration.

  2. Account Verification:

    • Bitaroo will verify the provided documentation. It is essential that all documents are accurate and up-to-date to avoid delays in the verification process.

  3. Accessing the Account:

    • Once verified, the executor will be granted access to the deceased’s Bitaroo account. It is crucial to ensure that the executor has secure access to the account, including any required authentication methods.

  4. Withdrawal of Bitcoin:

    • The executor can then initiate the withdrawal process. To do this:
      • Log into the Bitaroo account.
      • Navigate to the 'Withdrawal' section.
      • Enter the recipient's Bitcoin wallet address and select the withdrawal speed (Economy, Standard, or Priority). Each speed option has a different fee.
      • Confirm the withdrawal to transfer the bitcoin to the specified wallet.

  5. Distribution to Beneficiaries:

    • The bitcoin can then be distributed to the beneficiaries as specified in the will. This can involve multiple transactions if there are several beneficiaries.

  6. Seeking Professional Assistance:

    • For complex situations or additional assistance, Bitaroo offers services through our Skippy service. Our Skippy Experts can help with estate planning, setting up cold wallets, and other aspects of bitcoin management.

  7. Additional Considerations:

    • Executors should be aware of potential tax implications and ensure compliance with relevant regulations. It may be beneficial to consult with a legal or financial advisor familiar with bitcoin and estate laws.

For more information or to initiate the estate transfer process, executors can contact Bitaroo Support.

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