Smart Legacy Planning
Smart Contract & Blockchain Enabled Wills and Probate Practices
Succession is the process by which family wealth is distributed across the generations. Often, however, inefficient legacy planning results in contentious probate whereby, instead of an individual’s heir enjoying your lifelong success, all the benefits of your hard work end up flowing to lawyers and tax officials.
The creation of smart contract enabled wills will mitigate such possibilities. By leveraging blockchain and smart contracts, typical contentious probate founded on:
Challenge on testamentary capacity;
Challenge on proper execution of testamentary disposition; and
can all be eliminated at the outset. By spending more time and resources at the beginning, XBE can leverage our Web 5.0 technologies to ensure that your legacy is more immutable (both formation and execution of your crypto will shall be stored on the blockchain) and above reproach.
Further, instead of relying on your appointed Executor/Executrix to carry out your will (which can be a complicated and costly exercise), their job can be made easy with the click of a button for a tokenized estate. Contact our Smart Legacy Planning Team for more information today.
Tech-Arbitration & Regulatory-Arbitration Specialists
Family Offices Advising
Tokenization of Assets
Testamantary Capacity Check & Record
At XBE, we understand the upholding of a settlor’s legacy. We therefore want to use technology to ensure a smooth transition of generational legacy with as little latency and disruption as possible.
Need #1: Automated Execution: Legacy is all about remembering the lifelong achievement of the settlor. By automating the distribution of an estate, not only can we replace hassle with the click of a button for your executor, but we can also ensure execution is to your specification by removing human error altogether.
Need #2: An Immutable Legacy: Immutable legacy leaves little room for disputes amongst heirs. We minimize the chances of disputes via the use of technology whilst immutable records make it tremendously more difficult for prospective troublemakers to commence action.
Need #3: Privacy: A crypto-will maintains privacy in that the settlor who makes the crypto-will and the chosen beneficiaries can only be identified by their ‘public keys’, similar to a username. Identification through public keys also enables you to make a new crypto-will and for it to be easily identified as your last will.
As one of the world’s leading technology companies, we can offer our technology to provide family services with a machine and logic-driven set of services:
Advantage 1: We have a legally trained team that can either lead or collaborate with our panel of partnering law firms in your family legacy planning projects.
Advantage 2: We have a full capability and full-service tech team able to custom-make individualized smart contract-enabled legacy plans or crypto-wills.
Advantage 3: We have tokenization specialists, able to tokenization your entire estate. Tokenized estate will have utility both for ease and secure form of secondary transactions within a settlor’s lifetime as well as forming part of a smart-legacy estate.