What the...? People actually use this? Take literally every piece of information and document about themselves, enough for an attacker to completely empty all their financial accounts and open huge amounts of credit in their name and take over every single account they have ever opened anywhere, and store all that in a single location with a company which were found to be storing passwords in plaintext for more than a decade. Wow.
I fear that at least some people use this system (sadly) without being fully aware of what they are actually getting into. Sadly I wasn't able to find much information regarding the company activity... I was only able to find the twitter account of it's founder (don't know if it's real or not) - Jeffrey Loewenstein[1]
Yeah, I would only ever use timelocked transactions to potentially move some funds to someone else I wanted to inherit them in the event of my death/incapacitation. I would still have access to the relevant private keys, so could move the coins to invalidate the timelocked transaction and then generate a new one if needed.
I wonder, is it possible to schedule a transaction to be sent at X date? If that were possible one could only just schedule that all his funds will be moved over to X wallet at Y date. If the person is still alive / not incapacitated it was just a matter of time to cancel the transaction and just schedule another one to another point in time. I don't know if it's possible though ...
[1]
https://twitter.com/myessentialinfo