Saturday, April 3, 2021

Multisig and passing keys down to next of kin

Assume the following example setup where I setup a 2/3 Multisig:

Key 1 I keep for Myself.

Key 2 I give to a Family Member.

Key 3 I give to a trusted Best Friend.

In the unfortunate event where I suddenly pass away. How easy would it be for my Family and Best friend to gain access to my Bitcoin? Am I correct in assuming they would need access to Key 1 in order to reconstruct my wallet? (Either Key 1, or a wallet config that has all 3 Key's XPUB already loaded)

If so, what is the best way to ensure I am able to pass down bitcoin stored in a 2/3 multisig in the event I suddenly pass away?


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