By some estimates, 3–4 million BTC are lost forever, many due to the death of owners without an inheritance plan. Do not let your assets become part of this statistic.
Inheritance Scenarios
Solo Owner
You are the only one who knows about the crypto assets. A reliable knowledge transfer plan is needed.
Shamir 2-of-3: notary + trusted person + bank safe deposit box. Recovery instructions in a sealed envelope.
Couple / Partners
Both partners know about the cryptocurrency, but only one manages the wallet.
Shamir 2-of-3 with one part for each partner + third in a secure location. Both can recover with the help of a third party.
Family with Children
Need to protect assets and provide access to multiple heirs.
Shamir 3-of-5: parents (1 part each), notary, bank safe deposit box, trusted family friend. Any 3 participants can recover.
Inheritance Checklist
Document
Create written instructions: which wallets, which protection methods, where parts are stored.
Distribute
Use Shamir SSS to split the seed phrase. Distribute parts to trusted people and organizations.
Test
Make sure heirs can collect the required number of parts and follow the instructions.
Update
Review the plan once a year. Update when life circumstances change.