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Are there any paper wallets that lets you split a private key into multiple parts like how a multi-sig transaction works? Sure I can just print out a paper wallet and cut it up into 4 pieces and give one to each user, but I'm wondering has anyone solved such an issue? A good use case is cutting up a private key and giving each one to a family member. In order to form the private key back, all parties must be present.

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www.bitaddress.org offers something similar to your description. It's under the Split Wallet tab once you generate enough entropy. You can even specify a m-of-n multisig.

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