E304 Poor Man's Multisig for Bitcoin Inheritance

<p>What are some less costly alternatives for a managed <a href= "https://anthonyspark.com/e256-multisig-keys-for-bitcoin-inheritance-planning/"> multi-sig bitcoin inheritance plan</a>?</p> <h2>Why poor man’s multi-sig?</h2> <p><img class="aligncenter size-medium wp-image-43432" src= "https://anthonyspark.com/wp-content/uploads/2023/02/Why-poor-mans-multisig-300x169.jpg" alt="Why poor man’s multisig?" width="300" height="169" /></p> <p>A multi-sig setup is good for inheritance purposes, because multiple keys are needed to access your funds. This way, there’s no pressure on one single keyholder to have high-level security. In a multi-sig, if one person loses their key, an attacker or hacker can’t do much without the other keys. Of course, the keyholders should keep the keys secure. But if one leaves his 12 key words laying around, it’s not as risky as it would be if he was the sole keyholder. Also, the keyholders should be geographically distributed – don't give them to people all living in the same house.</p> <p>A drawback of using multi-sig is that it can be expensive, especially if your stack isn’t that big. Having 3 to 5 hardware wallets can cost several hundreds of dollars. It might not be cost-justified by the current level of your holdings.</p> <p>Many of the good plans are through popular services (such as <a href="https://unchained.com/" target="_blank" rel= "noopener">Unchained Capital</a>, <a href="https://keys.casa/" target="_blank" rel="noopener">Casa</a>, and <a href= "https://nunchuk.io/" target="_blank" rel="noopener">Nunchuk</a>). However, those are possible single points of failure. If a hacker knows that some of your keys are with these companies, they may find a way to access them. It’s easier for a hacker to hit one of these companies instead of hitting a computer in a random house.</p> <p>These companies are also an easy target for subpoenas. Maybe you going through a divorce or a child custody battle, or maybe you have IRS or creditor issues. They may figure out that you are using a big comp