tl;dr below
I'm young but the world is full of surprises, for better and for worse. So I've been thinking, in the unpredictable yet inevitable event of my death, how would I make sure that my bitcoins were left behind for those I care for.
I figured the best way for me would be to sign and print a time locked transaction one year in advance, along with the private key to the receiving address. This can be placed anywhere I expect my family/friends to find. The idea being that if something unexpected happens, my loved ones would have to wait no longer than a year to broadcast the transaction and receive my bitcoins. I, of course, would update this transaction once a year (destroy the old, make a new) or move the coins to a new address and sign a new time locked transaction.
tl;dr
I understand this is technically possible. If I were to use http://brainwallet.org/#tx, the lock_time is simply the absolute block height from which I would like the transaction to be valid?
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