Unless your mom is Lucille Bluth.
I think a better way would be to have one person click 'Mark is dead' and it immediately sends an email to Mark saying 'Joe says you're dead.' If Mark doesnt' access the account within x days, then it sends further confirmation emails to Mom and business partner who also have to confirm that Mark is dead. If so, then it set 'Mark = dead' and opens the vaults as Mark configured.
Aside from that, this seems like a really elegant solution. Occam's razor.
Note the idea is applicable to far more than "relatives when I die".. e.g. root password for the server when you're sick in the hospital. Also, remember that many people don't want their estate documents to be viewed pre-death (e.g. don't want people to know how much they're getting), and letting people know where you put them / how to contact the lawyer in a reliable way is a hassle in and of itself.
(Although that does leave me with one practical issue: if I go to my trustworthy small town lawyer tomorrow and say "Hiya Taro [he's not Bob -- Bobs are quite rare in these parts], in the event that I pass away suddenly, I'd like you to take care of my final affairs as I'm about to instruct you:", and Taro gets hit by a bus, what happens to my plan? Should I be asking my lawyers "But before I give you my business can I ask you a little more about your business continuity contingency planning? How about we start with your bus number?")
A company exists that offers after-death services using a multiple-redundancy scheme like the one described:
They call the trustworthy people "angels" :)
A lot of things happen after confirming someone is really truly dead, and many of those things can't be easily undone :)
(Full disclosure: I work for the company that developed the site)
Your data is forever locked because of one person. It's even worse than you not telling the service that you changed your email. At least you should have known that the service existed.
Burdening your friends and relatives doesn't strike me as the best way t handle this issue.
What if nobody responds?
I'd much rather trust myself to manage things, to be honest.
That way it's only slightly alarming to your loved ones.
I guess a lot of us are analytically minded here.
My question is: did you (and if yes, what?) do something to release your digital assets to your family?