Am i failing to understand bitcoin inheritance planning correctly? \ stacker news ~bitcoin

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Am i failing to understand bitcoin inheritance planning correctly?

252 sats \ 10 comments \ @stack_harder 3h bitcoin

ok, so I have some issues with mulstisig, but I understand better than before.

I hear the ad for Casa and bitcoin inheritance planning all the time and say it's a 2 of 3 multisig

me, casa and one of the kids has a key, then i die and casa and my kid then unlock my shitposting fortune.

but what happens if Casa goes bankrupt or ceases to exist?

what happens if my kid loses their key?

and would that mean that every single time i want to move anything on chain, i would need my kid or casa to complete the transition?

I'm sure i must be overcomplicating it.

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53 sats \ 3 replies \ @fm 2h

i think they allow more configs..

Casa 2-of-3, 3-of-5, and 3-of-6

but what happens if Casa goes bankrupt or ceases to exist?

you need your kid

what happens if my kid loses their key?

You need casa..

If you go with 3 of 6 you can hold the 3 and move it alone

21 sats \ 2 replies \ @stack_harder OP 1h

isnt me holding 3 just the same risk as me holding the 1?

or is it more like i know all 3 and can move btc when i like, and then a kid each and casa has their own one (a key being like a seed phrase) and if something happens for example the two kids combine to unlock the btc

if it's the latter, that kind makes sense, for some reason i wasn't thinking about me also knowing all 3 keys

in which case, i suppose i could do regular inheritance plan and the lawyer has one key but cant rug me.

although i plan on being around for at least another 60 years and would prefer to just have the kids have keys and not pay inheritance tax and be on the radar etc

21 sats \ 0 replies \ @fm 1h

isnt me holding 3 just the same risk as me holding the 1?

Not if you save them in different places.. lets say someone breaks in and only find one or two.. those are useless

0 sats \ 0 replies \ @fm 1h

or is it more like i know all 3 and can move btc when i like,

This is a good option since you dont need casa or the kids

0 sats \ 0 replies \ @Signal312 29m

Consider figuring out how to set up the multi sig with non-casa software, for instance, Sparrow. And make sure you can work with alternative software, with the 2 keys that you have (minus Casa)

If your kid loses their key, AND your key is available - you and casa collaborate to fix.

If Casa ceases to exist - hope you figured out how to handle multi-sig without Casa's help.

0 sats \ 2 replies \ @optimism 1h

and would that mean that every single time i want to move anything on chain

Why would you want to move it?

21 sats \ 1 reply \ @stack_harder OP 1h

i just mean theoretically, like if i wanted to liquidate a bit to make a purchase or something , or flip some on boltz to top up my lightning wallet

0 sats \ 0 replies \ @optimism 1h

I think its not really meant for that. It's more like the final boss of stashes that is ultra-cold and meant to be fully inherited.

If I were your kid and you came begging me for my signature for you to spend funds that were earmarked for my inheritance I'd nope you 😂

0 sats \ 1 reply \ @sangekrypto 2h

Give trust to our own children, don't keep the key a secret from them, because if we are gone, the next generation will be our children when they grow up.

0 sats \ 0 replies \ @stack_harder OP 1h

oh i do, but they are both small and one itnt even literate yet lol so it's too early