Quote from: DenisGorbachev on October 24, 2015, 10:00:49 AM

Amph, 1Referee If some trustees turn against you, the others will still protect your funds. For example, an encoded passphrase can be split between mom, dad, wife, best friend. Even if dad, wife and best friend conspire against you, mom will still hold defense (by not giving them her part of the passphrase)

// I've added this to FAQ section in initial post

Raimonn, RustyNomad You can send copies of the same piece to multiple trustees using a "split" technique:

Split the passphrase in 2 pieces
Send the 1st piece to mom and wife
Send the 2nd piece to dad and best friend

Even if best friend loses his piece, dad will still have his own copy. // Added this to FAQ also

Everybody useful suggestions, thanks! What are the other problems you can think of?

That explains it all. Then again, doomthinkers will say; what if the last person gets forced by the others to turn in its part of the passphrase? It's not unlikely for something like that to happen. Especially when the price of Bitcoin is going through the roof at some point.