Not today, little do-gooder hobbit!
Use timelocked recovery keys for your coins and prevent destructive halflings from ruining your day.
Discussion
I have seen an idea for another time locked recovery path concept that doesn't require renewal. The idea was to share presigned transaction, to use a recovrey you broadcast the transaction, which will trigger an on-chain even that start the time lock count-down. X blcoks after the first recovery transactions is broadcasted, the recovery path will be able to sign another transaction to withdraw the BTC to another wallet unless the person who control the original path move the BTC away before the timelock expire.
It's like a deadman Bitcoin switch.
This need machines activeley monitoring the blockchain (or you put a reminder to manually check at shorter interval than the time lock, like once per year if the timelock is 65'000 blocks.
However I don't remember where I saw this concept and if someone is working on it or not.
We worked on a vault system managing watchtowers and cosigning servers before Liana: https://github.com/revault
The presigned timelock tx was called a unvault tx and the watchtowers were able to cancel (send funds back to the vault) during the time of the locktime according to specific spend policies.
Amazing, I will study that. Why was the solution from Liana prefered in the end?
We had poor demand for it (complexity of self hosting services for users) and we had a chicken and egg problem with hardware wallets manufacturers who did not want to implement miniscript without users asking for it. Also presigned txs are a pain in case of mempool fluctuation and most of the core improvements (package relay etc) were missing.
So we sat on a beach, asking ourself what the simplest wallet we could create that illustrate the power of miniscript and we came up with Liana.
Antoine did the work to integrate miniscript in bitcoin core and I worked with Stephan and Salvatore to have compatibility and tests with specter-diy and Ledger.