There is no guarantee that person would give you the bitcoin back once they see how much those can potentially be worth.
I had read some cases where family members have done this and refused to give access to the wallet where the bitcoins are held.
The second method you had mentioned would probably be better than trust anyone even a close family member with your bitcoin.
Have also read some cases where people have buried their flash drives which held bitcoin on in their backyards. Well secured from the elements of course.
It is very risky to let anyone else even family hold your Bitcoin because they might not give it back especially if its value goes up proving saying not your keys not your coins. To truly control our Bitcoin we need to keep our private keys safe possibly by using methods like hardware wallets or even physical storage like buried flash drive which shows how far people go to avoid relying on others or online services for their long term Bitcoin storage.