This should be standard.

If you lose one key you have to wait up to 60 months till it decays and you can use your funds. Only downside is that you will have to move funds every 60 months, but I don’t think that’s a big deal personally.

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Not at all

Forces one to keep the UTXO's fresh on updated hardware signers

Green wallet has done this for a long time. It even reminds you when you need to move funds. Great feature for a collaborative multisig wallet.

Kinda cool could see some use cases for it more options the better different flavors for more people