Our Recovery Process
Your private keys need to be securely stored, but still recoverable under the right conditions to your estate and beneficiaries.
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This process can not begin without approval from Legacy Lockbox*, and likewise, Legacy Lockbox can not access your keys without the approval of a quorum of your beneficiaries or custodians.
(For the curious, we use commutative double-encryption with t of n thresholding. More details...)
Estate Recovery Process
In the worst case scenario where your estate now has need of your assets, your executor will receive detailed instructions of the process to follow to recover and then distribute your digital assets.
Estate Begins
Following their instructions, the Executor of your estate begins the process, contacting Lockbox and setting the process in motion.*
Verification
We verify the authority of the executor in conjunction with our partner law firms. This includes a one month due diligence pause to obtain and review death certificates and other validation.
Custodian
Notification
All custodians are notified and we generate a new unique challenge key for each one them.
(This is a commutative EIGamal key.)
Key Recovery
Each custodian uses their CEG key to decrypt their keyshare to re-assemble the encrypted key. This encrypted key is then sent to the appropriate inheritor where it is finally decrypted on their device. They now have access and control of your assets.
We can then assist with other recovery, tax, and reporting issues.