Multi sig solution for business clients and coin inheritance

[Zlantann]

Recently I started introducing my wife to Bitcoin. My children are young and it might not be advisable to teach them much about Bitcoin because of privacy and cyber-security reason. I have taught my wife about both centralized and decentralized wallet and she knows where I saved both the password and the keys. My wife is the only person I can give such information to because she is the mother of my children and might not mismanage the funds I might leave behind if I walk through the path of eternity. My only fear when I die is my children's well-being, that is why I am giving the keys to there mum. Multi signature wallet would make the whole stuff complicated for my Bitcoin uninformed wife, hence a single signature wallet is perfect for now.     

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[Strongkored]

Since I don't have a lot of bitcoins so don't really think about it. Some of my family members know that I store this important data because store it on my laptop and back it up in another storage that they also know where I store it, about how to access a bitcoin wallet it is easy to learn on google, so they will be very likely to be able to retrieve it if I die.

[KaliLinux]

Multisig has many good uses, but imho using multisig for when I am dead means that I don't trust my family enough.
So while I do care what happens with my coins after I am gone, I consider that the fact my family knows where I keep one of the seed backups is just fine. Why would I make it more complicated?!

How about cases of funds mismanagement or situation where a member of my family wants me dead just to have full custody of the coin. We live in an evil world where different things happen as we keep advancing. In as much as i trust my family member i think securing both my future and theirs should also be considered

My wife uses my cards too, since she does most of the shopping while I'm working.
So if she wants to "mismanage" funds, she already can

There's indeed an evil world, but ... maybe it's not as bad as in the news after all. I mean if one doesn't trust his wife, why would they stay under the same roof at all? As I said, keep it simple

I don't know, maybe Bitcoin price would have to grow much much more to make me get paranoid also about my family. For now it's not the case.

I couldn't have agreed with you more. We are just alike there, my wife uses my card the most if we need anything for the house or whatever and she also knows everything about my Crypto life and knows where all the PKs and such kinds of info are stored. I believe I have stated this in one of the similar topics posted up there  by romaro121, I like to keep it simple as well and besides, I don't have that much to think someone will be after me, and even if I did, I have to announce it for anyone to know which I won't  

[leea-1334]

I am pretty sure they understand the bitcoin wallets and how to access it. My phone is always accessible to everyone in my house (password protected). In addition to this they know how to use hardware wallet and they have their own wallets too. Geekies here

Moreover, if I accidently die, they know how to access it, if all of us accidently die then there is no question about it, consider them lost with us. Lolz.

Then you are a rare case indeed,,, family of geekies who know the password and access to your wallets and HDD is weird on 2 things. All being geekies,,, which is not so strange, but all having access to the private funds and data of each other? That does not add up. Geeks especially would be quite serious about that. And would use more complex methods like time lock.

I know they are your family, but the only way my family will ever know my password is if I die and they get a message in their will.

[FanEagle]

I mean why go this weird when you could literally store it on your binance account? If I ever die, or I am in a coma or whatever reason I can't reach my coins, my family could use my phone to just end up with account access just like I do. It doesn't require to be "me", it requires someone to know my email, my password, and have my phone for 2FA, all of which my wife has.

This is why I do not think that it would ever be a problem, why would it be? I personally believe that we should simply ignore all of these anxiety, and look for the better life ahead of us, it's too early to think about death for majority of us, sure get ready for it, but just a piece of paper explaining how to do it would be enough.

[o_e_l_e_o]

I mean why go this weird when you could literally store it on your binance account? If I ever die, or I am in a coma or whatever reason I can't reach my coins, my family could use my phone to just end up with account access just like I do. It doesn't require to be "me", it requires someone to know my email, my password, and have my phone for 2FA, all of which my wife has.

Oh dear. Let's ignore all the reasons (and there are a lot of them) you shouldn't store coins on a centralized exchange even when you are alive, from censorship and lack of privacy to hacks, thefts, scams, and bankruptcy. From the Binance Terms of Use:

The Binance Account can only be used by the account registrant. Binance reserves the right to suspend, freeze or cancel the use of Binance Accounts by persons other than account registrant.

If Binance ever find out that your wife is accessing your account, then she can wave goodbye to all of your coins, since your account will be immediately suspended. In classic Binance fashion, probably the only thing which would allow her to unfreeze your account is for you to complete "enhaned KYC" or some other such nonsense, which of course will be impossible after your death.

[Zilon]

No one is seeing beyond the family. How about business, co-operations, institutes, organizations and religious sectors they too can benefit from this multi-sig wallets for their transactions that are always open between clients. It can serve as an open court for both parties in off-chain transactions

[Codswallop]

No, I am not bothered about my bitcoins. I have told everything to my sister. I will be happy if she has them after me. Moreover,  she is also interested in bitcoins and I am teaching her how bitcoins work every weekend.