[joshzayin]

What benefit would this provide over simply having an encrypted memory stick (or similar) containing all of the necessary account information and leaving the password with someone trusted (e.g., lawyer responsible for will, family member friend, etc)? (or, as troels suggests, leaving the password or even the stick in a safe)

[bzupnick]

The benefit is that if you did it with an encrypted USB that you keep with a lawyer, every time you make a new account or change your username or password, you would have to get the USB back, re-write the txt file, then give it back. Whereas here, it may be easier to update your information in this fashion

[joshzayin]

Well, you could keep the USB stick and give the lawyer the decryption key.