Earlier quoted context omitted.
I debate this with myself often. Short of renting a security box and telling people I trust about it, I haven’t come up with a strategy for the master password. At the moment, I’ve resigned myself to the feeling that if I lose my memory, maybe it’ll be the opportunity for a fresh start, and so losing everything is a feature not a bug.
Just send four trusted family members half of the passphrase in a sealed envelope and tell them what it's for. If your family has a lawyer or safe deposit box trusting that instead is a 1000x better option.
Three reasons:
- Banks fubar safe deposit boxes all of the time, in a variety of ways.
- Once the bank figures out that you’re dead, it’s sealed without a court order.
- As you get older it’s more likely that you’ll screw up payments, lose keys or codes, etc.
Also, the attorney will advise your loved ones on what they can do. For example, you need a power of attorney for many things.