That's always the question, n'est-ce pas?
I mean, everyone seems to forget that every person is a single point of failure. If you have data, say, on your phone or in your iCloud account and something happens to you, there goes the access to that data because it requires a password that only you would know. Apple just thought about that with the legacy contact features the just added to iOS.
In my case, what I have done is make sure that I am not the only one with access to that data, and that those that need access to that vault in case something happens to me has a way to get to the master password for that vault and only that vault. That's the main reason why I separated them not only by vault, but by application as well. That way, they couldn't use the same password to access a different vault in a different application.
So in my mother's case, on an encrypted USB stick, I have the vault, the portable binary for the password manager, and instructions on how to use it. In case they have any disaster, they can pull from that, or I reseed their info. If something happens to me, they have access to their info. At that point, they would be on their own.
Wash/rinse/repeat for my father, as well as my family. For my family, I'm considering the legacy contact info in iOS 15, but I'm wanting to see how that pans out as well as the entire CSAM issue before jumping to it from iOS 14.8.
BL.