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.
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.