Heir is building the next generation inheritance & estate planning solution powered by the Stellar blockchain , artificial intelligence, and deep machine learning technology. Heir endeavors to become the global standard in the protection of digital and traditional real-world assets (e.g. real estate, property, and other tangibles) for next of kin and loved ones. This article explores how Heir intends to bridge real-world assets with the Stellar blockchain platform.
Protecting Real-World Assets For Next of Kin
When it comes to the traditional methods of protecting tangible property for inheritance purposes, the options are fairly limited. For the vast majority, the general route taken is to create an inheritance will (which comes with various pitfalls), or for the wealthy and well-informed spinning up an estate trust (provides better protection, but at a substantial upfront and on-going cost).
What’s an estate trust? Estate trusts are asset protection vehicles generally only available to the wealthy due to their expensive upstart and maintenance costs (which can amount to tens of thousands of dollars in upfront and on-going costs). Having an estate trust provides significant benefits over having a traditional inheritance will, including: tax benefits, creditor protection, and eliminates beneficiaries from having to deal with long, expensive and drawn out court processes, prior to obtaining access to their inheritance. Keep reading, and we will explain how Heir will make estate trusts accessible to all.
How Will Heir Bridge Real-World Assets with the Stellar Blockchain Platform?
The magic lies within Heir’s upcoming asset tokenization engine. By taking a real-world tangible asset (like real estate), and running it through Heir’s tokenization engine, Heir will bridge the real-world with the blockchain. Here is a high-level overview of how Heir will accomplish this:
- Users will have the ability to upload real-world property titles and deeds within the Heir ecosystem via Heir’s intuitive portal
- Heir’s asset tokenization engine ingests details of the property deed to tokenizes the real-world asset
- Tokens tied to the real-world asset are created, which serve the purposes of mirroring real-world ownership of the property/asset
- Token state lives within the Stellar platform for immutability, decentralization, and protection
- Tokens are automatically placed and live within a users HeirWallet (shown below):
Users will then be provided with the ability to seamlessly assign their real-world property deed/title, to mimic the state of their tokenized counterpart (details will be provided in a future article).
Sounds Amazing! But What Will Users Do with Their Tokenized Property?
Post-tokenization of real-world assets, users will have the ability to assign their tokenized real-world assets to their Heir enabled estate trust (Heir’s flagship product refereed to as HeirTrust). By doing so, users are enabled to specify to whom, when, and how their tokenized assets should be distributed:
HeirTrust will allow users to reap the exact same real-world benefits that a traditionally prepared estate trust would. This includes: inheritance tax benefits, creditor protection, and beneficiary ease. Heir will do what’s generally done within the confines of an estate planning firm, but better, faster, simpler and much more affordably.
Interested in Learning More About Heir?
Visit our Website: www.heir.io
Read our White Paper: link to download
Join the Heir Twitter and Telegram Community
For the latest details regarding Heir, follow us on twitter and join the conversation on Heir’s official telegram channel.
