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How can I plan my inheritance with 21st Capital?

Some methods risk loss and mismanagement, but 21st Capital’s Smart Vault uses multi-signature, Miniscripts, and timelocks for secure Bitcoin inheritance.

Non-Secure Inheritance Planning Setups

  1. Private Key Transfer Method: This method involves handing over a single private key or seed phrase to beneficiaries. While seemingly straightforward, it is highly susceptible to loss, mismanagement, or compromise, making it unreliable for long-term inheritance planning.

  2. Extra Multi-signature Parties Method: Adding more signatories or trusted third parties to a multi-signature wallet introduces a different risk—collusion. If two or more signatories collaborate, they can access or steal the funds, making it a flawed solution for secure inheritance planning.

Smart Vault and Smart Backups: The Superior Solution

21st Capital’s Smart Vault eliminates these vulnerabilities by combining multi-signature technology with timelocks and Miniscripts to create a truly secure, trust-minimized, and customizable inheritance plan. Using these features, clients can design layered access paths with precise time-based conditions, ensuring that different beneficiaries gain access only at predefined intervals. This prevents premature access and ensures that no single entity can compromise the assets.

Smart Vault Key Features:

  1. Timelocks: Prevent access to funds until specific periods of inactivity are met.
  2. Miniscripts: Set complex rules for how and when funds are accessed.
  3. Multi-signature Security: Eliminate reliance on trusted third parties.
  4. Flexible Recovery Paths: Ensure funds can still be recovered through pre-set conditions without depending on external trust.

Practical Implementation with Smart Vault

  1. Multi-signature Setup: Create a 3-of-5 multi-signature wallet. Keys are distributed among the user, trusted family members, and a legal entity or trustee.
  2. Miniscript Configuration: Define a Miniscript that specifies which keys are activated after different periods of inactivity.
  3. Timelock Activation: For example, after 6 months of inactivity, the spouse’s keys can be used; after 9 months, children’s keys can access the funds. If no activity is detected within 15 months, 21st Capital’s key becomes active, ensuring secure recovery.
  4. Key Management: Ensure all keys are securely stored and communicated to the relevant parties.

Considerations for Bitcoin Inheritance Planning

  1. Security: Securely store all backup phrases, seeds, and keys in separate locations.
  2. Clarity: Clearly communicate the plan to your beneficiaries to prevent confusion.
  3. Updates: Regularly review and update your plan to reflect changes in family or financial situations.
  4. Expert Advice: Seek guidance from legal, financial, and technical experts to create a robust Bitcoin inheritance plan.

Smart Vault: The Ultimate Bitcoin Inheritance Solution

By leveraging multi-signature technology, timelocks, and Miniscripts, 21st Capital’s Smart Vault addresses the shortcomings of both private key transfer and extra multi-signature methods, providing a secure, flexible, and decentralized solution that prevents loss of funds, removes trust dependencies, and ensures that your Bitcoin is inherited according to your wishes—providing complete peace of mind for you and your loved ones.