The dead man’s time lock

[apogio]

Consider a multisig setup with an attorney as a required cosigner after your death. The timelocked TX approach works, but you need reliable calendar systems to remind you to refresh it regularly.

Instead of an attorney, you could give the same cosigner to 2 trusted people. This wouldn't break security because both of them (even if combined) they can't do anything against you. And it gives redundancy because there are 2 copies of the same cosigner.

[satscraper]

Is there a model or a solution that can treat my fears by giving me a fair balance?

Actually there’s already off-the-shelf solution for this, namely Liana wallet. It supports the MiniScript language, which lets you build ^{automatically!} wallets based on different inheritance scenarios you want to plan.

Just as a few examples:

Using Liana you could create a 2-of-3 multisig setup that decays into a 1-of-3 after a certain time period ^{say, time = X*}. Then, you’d give one of the keys to your heir/s ahead of time.

Another opt for you :

After a certain delay ^T1, a particular key (let’s say key #1 from the 2-of-3 multisig) gets spending rights. Again, your heir/s would need that key and its descriptor in advance to use it.

You can go even further and assign different time delays for each key ^{T2 for key #2, T3 for key #3,} etc and give control for your stash to different heirs.

The simplest scenario, wallet with just two keys, one of them ^{called primary} is available for spending at every time while the other one called ^{inheritance key} is spendable after X period of primary key inactivity.

* Max X =

[StreetDog6000]

The simplest scenario, wallet with just two keys, one of them ^{called primary} is available for spending at every time while the other one called ^{inheritance key} is spendable after X period of primary key inactivity.

Hi, thanks for pointing me to Liana! Looks really interesting. You seem to know Liana quite well, so may I ask you a question that was not answered on their website (…or maybe I was too dumb to find it myself…)?

Questions:
In the above scenario, after the inheritence key gained rights to spend, can the primary key still be used for spending? (…I assume so…)

If yes and if as well the primary key than was used again, does the inheritance key lose its rights again? Or does the inheritance key, once "promoted", keep its rights even if the primary key was used again?

Thanks in advance!

[satscraper]

Questions:
In the above scenario, after the inheritence key gained rights to spend, can the primary key still be used for spending? (…I assume so…)


Thanks in advance!

The primary key remains permanently active. Therefore, if the inheritance key becomes active after given period of inactivity from the primary key, the latter still remains valid and can be used for spending.

If yes and if as well the primary key than was used again, does the inheritance key lose its rights again? Or does the inheritance key, once "promoted", keep its rights even if the primary key was used again?

Thanks in advance!

If the primary key suddenly becomes active again, the inheritance key does not lose its rights. In this case, both keys remain active and have equal rights to access and manage the funds.