Fiduciaries (executors, trustees, guardians) maintain and handle funds on behalf of others (heirs, beneficiaries, and so forth). So it is essential to have the ability to audit a fiduciary’s transactions, to make sure he hasn’t mismanaged or stolen any funds.
With financial institution and brokerage accounts, this may be pieced collectively from account statements. How can a bitcoin pockets be equally audited?
Simplified Instance: Upon dying, the executor takes possession of the deceased’s {hardware} pockets. Over the course the probate course of, executor spends to pay collectors, taxes, and so forth.
On the finish of probate, executor proposes to distribute the remaining bitcoin/utxos equally to the heirs, as per the need.
Had this been financial institution/brokerage accounts, the Executor would use statements to create a paper path of all of the {dollars} he collected, what he spent, and thus the remaining steadiness for the heirs.
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However how can the heirs affirm what was the “opening steadiness” of the pockets? The executor might present an inventory of addresses and utxos when he took possession of the pockets, however how might anybody confirm that it is a full record?
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If there is a passable reply to this, the remainder (auditing executors’s spending, remaining steadiness, and so forth.) looks like primary on-chain monitoring, assuming he spends on-chain and never lightning. Am I mistaken?
Thanks
