# Family wallet

Shared family finances with recovery and separate accounts for savings, cash, and investments

A **family wallet** is a [workspace](https://splits.org/docs/workspaces) that gives household members direct access to shared [accounts](https://splits.org/docs/accounts). Each account has its own signers, threshold, and purpose. [Email recovery signers](https://splits.org/docs/workspaces/recovery#recovery-signers) let chosen guardians restore access without managing crypto wallets.

![Family wallet account structure from the original post: Recovery keys can reset the Treasury signers. The family workspace includes Sweep, Cash, and Investments accounts connected to banking, statements, a browser extension, and a CFO agent.](https://splits.org/docs/images/solutions/family-wallet.jpg)

## Why not use one wallet

| Requirement | One EOA wallet | A family workspace in Splits |
| --- | --- | --- |
| Shared control | One signing key controls all assets | Each account has an [M-of-N threshold](https://splits.org/docs/accounts/thresholds) |
| Recovery | The family must find the wallet's secret | Email or wallet recovery signers can [reset account signers](https://splits.org/docs/accounts/editing#resetting-signers) |
| Separation | All assets share one address | [Operating accounts](https://splits.org/docs/accounts#operating-accounts) separate assets by purpose |
| Visibility | One person often controls the wallet interface | Each [member](https://splits.org/docs/members) can view the workspace's accounts |
| Records | Activity stays in one wallet history | [Accounting](https://splits.org/docs/accounting) combines transactions, tax lots, and reports |

## How it works

* **The household controls the Treasury together.** Add each adult's signing key as a signer. Select a threshold that matches your approval policy.
* **Recovery does not hold family assets.** Email or wallet recovery signers control the Root. The Root can restore the Treasury's signer set.
* **Each purpose has a separate account.** Keep long-term assets in the Treasury. Use operating accounts for cash and investments.
* **Daily spending can use a lower threshold.** A 1-of-2 Cash account lets either adult spend. A 2-of-2 Treasury requires both adults.
* **Idle cash can earn.** [Automated Earn](https://splits.org/docs/accounts/earn#automated-earn) deposits supported idle stablecoins from the Cash account.
* **Investments stay separate.** Use [just-in-time swaps](https://splits.org/docs/transactions/swaps#just-in-time-swaps) to fund a purchase. Use the [browser extension](https://splits.org/docs/introduction/extension) to connect the Investments account to another app.
* **Bank transfers connect family income.** After [individual verification](https://splits.org/docs/banking#getting-verified), the household can connect a personal bank account.
* **An automation can simplify deposits.** An [automation account](https://splits.org/docs/accounts#automation-accounts) can convert incoming tokens and send the output to Cash.
* **One history supports review and taxes.** Accounting provides balances, tax lots, gains, transactions, and PDF reports.
* **An agent can help without moving money alone.** An [API key](https://splits.org/docs/introduction/agents#get-an-api-key) lets an agent read data and propose work. Account thresholds control transaction approval.

## Set up a family wallet

Prerequisites: each adult needs a [signing key](https://splits.org/docs/members/keys). Each recovery guardian needs an email address or an external wallet.

:::steps
### Create the family workspace

Complete [workspace setup](https://splits.org/docs/workspaces#the-setup-steps). Add both adults as Owners. Add guardians as email recovery signers. Select the recovery threshold.

### Create accounts by purpose

Keep long-term assets in the Treasury. Create a Cash operating account and an Investments operating account.

### Set account thresholds

Set the Treasury threshold for joint approval. Give daily accounts the threshold that matches their risk and use.

### Add cash tools

Complete [individual verification](https://splits.org/docs/banking#getting-verified) for bank transfers. Enable Automated Earn on the Cash account if it holds supported assets.

### Add deposits and reports

Create an automation account if you receive many tokens. Generate [accounting reports](https://splits.org/docs/accounting#reports) for household review and tax preparation.

### Add an agent

Create an API key for an agent. Give it the minimum required [scope](https://splits.org/docs/workspaces/roles#api-key-scopes). Keep manual approval on financial transactions.
:::

## Limits

* Banking requires verification and supports the jurisdictions listed on [Banking](https://splits.org/docs/banking#jurisdictions).

## Next steps

* [Create a family workspace](https://app.splits.org)
* [Workspaces](https://splits.org/docs/workspaces): create the household and select Recovery
* [Accounts](https://splits.org/docs/accounts): separate assets by purpose
* [Accounting](https://splits.org/docs/accounting): create statements and tax reports

## Programmatic access

Via the [Splits CLI / MCP](https://splits.org/docs/introduction/agents):

* `splits accounts list`: list the family's accounts (**Read** scope)
* `splits transactions list`: review transactions across the workspace (**Read** scope)
* `splits accounting reports generate <report>`: create an accounting report (**Read** scope)