I know a guy in my area that suddenly became mentally deranged and that guy was a huge investor in bitcoin investment but funny enough nobody knows the pass phrase of any of his wallet or any of his crypto assets,and his family was in bitter need of money for his treatment and welfare and non can access his funds because they are ignorant of any of these, so I kept wondering if an investor can invest in bitcoin for a long term plan without disclosing to any of family members?
If his condition is not critical to the extent that he cannot talk, then he should give them the necessary keys required to have access to his wallet and then got the best treatment, because to source for fund sometimes may be a serious task, but if in comma, that is why they are the family, they should look for any means for getting him the financial aid needed for his treatment and after he is back healthy, he can pay back from anywhere the fund was gotten.
Is it proper sharing your pass phrase to your family members?
Ideally it is not, because we have to maintain privacy with what we have, but if we can confide trust in anyone and we weigh the risk and advantages, then we may have it shared with our close relative, this may be our wife or children and for those who are single, their parent or any close sibling.