This is actually a good idea. Why didn't I think of that before, lol?! Tbh, disclosing the whole portfolio is a bad practice when the amount is just too big. If it's a couple thousand bucks (depending on where you live), then I wouldn't worry much. Some might say, Man, they are your own family members.
No advice to store all your big capital in a single wallet or account.
The advice is always decentralizing your capital storage, and "Don't put all eggs in one basket" that is correct and usable with Bitcoin and cryptocurrency storage too. Decentralizing it more by choosing different wallet brands, softwares, hardware wallets for example to store your cryptocurrencies.
With family members, who you can trust and want them to access your cryptocurrencies if you unfortunately pass away or have serious accident, you can tell them part of your capital. Make sure you reserve something for yourself privately, just in case your family members betray you and steal your money.
I don't, and I certainly don't have everything in one single basket! Everything is scattered across different universes with different seeds, addresses, DEXs, and so on. What I meant by portfolio is how I keep a record of my total holdings and not show that to anyone. Btw, I use CMC to make the list and track everything, BTC, altcoins, and so on.
I am thinking about the timelock feature of Bitcoin. I don't remember what it was. Afaik, even if I tell them and get into an accident and they have total access, they won't be able to spend it carelessly until the timer runs out or a certain block height is reached. They won't be able to cash it.