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?
Is it proper sharing your pass phrase to your family members?
Keeping your secret seed phrase from everyone is very dangerous and not advised for one to take on forever. There is limit to how you must have invested to necessitate that one of your close family member knows the secret seed phrase to your wallet because of unforeseen eventualities that will warrant an access to it. Anyone investing in bitcoin is for them and their families to be financially free one day, and achieving that can only be possible if this your families have access to the wealth even when you’re still alive to some extent at your own peril and also have access to it when you’re no more.
Since it’s a very delicate thing to tell around, you would have to take your time to chose who to tell, because it’ll hurt more to be betrayed than not having access to the wealth when you’re no more. Every being as an end and no one can tell when theirs will come to an end, so allowing at least one trusted person to have access to your wallet is important. You don’t have to rush to tell, do your own research and only give the secret seed phrase out to who you only trust and won’t let you down even when you’re no more.