heir the next generation blockchain estate planning solution · 2019-06-30 · money, real estate,...

heir The Next Generation Blockchain Estate Planning Solution

Built with on

TM

The cryptocurrency market’s approximate half-trillion dollar market cap as of April, 2018 has spawned fortunes both large and small among current adopters. With the overall growth of the market, introduction of new cryptocurrencies, and the influx of new adopters, cryptocurrency holdings have and will continue to become sizeable portions of the global populations overall assets. A consideration generally overlooked in the here-and-now is what would happen to one’s assets when its holder ceases to exist, or simply put, upon death. Put into the context of cryptocurrency assets, a major gap is not only present, but if ignored can lead to dire and unfortunate consequences for holders and next of kin alike. Non-traditional assets require non-traditional estate planning and estate distribution solutions—Heir is the next generation distributed and decentralized blockchain solution for estate planning, management, and distribution. With a near-term focus set on protecting cryptocurrency assets, and a long-term vision to adapt all asset types to work in harmony with blockchain technology, Heir endeavors to become the standardized and holistic estate management solution for generations to come. Estate planning, an industry with revenue figures exceeding $170 billion in 2017 within the United States alone, is an area riddled with flaws, gaps and pitfalls in its current state. With an average annual growth rate of 6.6%, this industry figure is on trajectory to rise to over $1 Trillion by the year 2046, and much sooner from a global standpoint. From present day traditional wills and estate trusts being open for potential corruption, manipulation and misinterpretation, to rampant price gouging tactics employed within the industry, the time to innovate and disrupt has arrived. Heir will spearhead the transformation from the current archaic estate planning methods and processes, to a next generation offering which will last the tests of time to ensure legacies are protected.

Estate Planning: An Industry in Dire Need of Change

Heir is the next generation distributed and decentralized blockchain solution for estate planning, management, and distribution.

Heir.io | Next Generation Estate Planning on the Blockchain 2

At the core of blockchain technology is the foundational belief in distribution, decentralization and elimination of intermediaries. In the context of cryptocurrency, specifically Bitcoin and other similar alternative coins, financial institutions are being removed from the equation of traditional banking. Accounting and transactional data traditionally logged and kept in a centralized bank-controlled ledger has now become property of the public domain. Anyone who desires to view, transact with, scrutinize, or own a copy of the distributed ledger can easily and simply do so without having to interface with any financial institution or bank. With the advent of smart contract / logic based transactional technology introduced by Ethereum, Stellar and other similar blockchain platforms, the same principal of eliminating intermediaries can and has been applied to many other industries. Smart contract / logic based transactional technology takes the concept of cryptocurrency to the next level by allowing for transactions to be carried through only if and when a specific set of pre-programmed non-modifiable criteria has been met. The ability to rely on code as an intermediary has become a reality; ownership of critical decisions can be turned over from human to machine to eliminate biases, uncertainty, and corruption. Heir’s vision is to apply the same decentralized, distributed and middle-man eliminating ideology and technology to estate planning via the use of five elements: blockchain technology, cryptocurrency, smart transactions, machine learning ,and artificial intelligence. Heir will leverage next generation technology to disrupt the estate planning industry and propel itself into becoming the global standard for individuals to secure digital, liquid and non-liquid assets alike.

Heir will leverage next generation technology to disrupt the estate planning industry and propel itself into becoming the global standard for individuals to secure digital, liquid and non-liquid assets alike.


Heir’s near-term vision will focus on securing and distributing individuals’ cryptocurrency holdings for and to beneficiaries. Our long-term vision is far-reaching; to enable traditional liquid and non-liquid assets (e.g. fiat money, real estate, property, material possessions, etc.) to be tokenized/adapted to the blockchain and steered away from present day estate planning pitfalls, in addition to allowing individuals to preserve their wealth for far-future generations and progeny. By bringing Heir’s vision to fruition, wills and trusts will no longer be vulnerable to corruption through malicious intent and modification. The risks associated with storing and entrusting sensitive estate documents to individuals will be eliminated. The days of exuberant up-front estate legal fees and complexity, will dwindle and cease to exist. The stipulations and clauses of an individual’s will/trust will no longer be susceptible to misinterpretation. Liquid assets will no longer be prone to account freezes by probate courts, financial institutions, or other third parties. The security and safety of an individual’s next of kin and future offspring will not be jeopardized. Legacies will be preserved. Progenies will be served. Heir will secure our collective futures.

Heir’s Vision

Heir—Preserving Legacies. Serving Progenies.


An In-Depth Look at Today’s Estate Planning Methods

The estate planning and protection vehicles available and commonly used today, come with varying degrees of benefits and pitfalls. This section describes the current state of common routes typically taken when it comes to estate management, along with implications and considerations from multiple standpoints. Heir was designed with these current state shortcomings and pain points in mind as to create a holistic, elegant, and immutable blockchain offering for estate planning, management and distribution.


Passing Without a Will or a Trust

The most practiced and widespread estate planning method of the global population today is to simply not plan at all. No will, no estate trust, absolutely nothing—instead, pure reliance on destiny, fate, or the belief that next of kin will do right by each other and distribute a deceased individuals assets fairly and proportionally. Although turning a blind eye to the inevitable may seem like the easiest solution in the here-and-now, the negative repercussions of doing so are heavy. Without a valid will or trust, the final disposition of a deceased individual’s estate is determined by state, provincial, or country specific laws. These laws, formally known as intestacy laws, determines how, to whom, and when a deceased individual's assets should be distributed. Fees levied by the probate court system and attorneys to cover the cost and overhead of managing the affairs of an estate can be extremely hefty as well. Within the United States, fees associated with the probate system can be upwards of 8% of an estate’s total value (sum of at-time value of all assets). In addition to cost implications, dying intestate (without a will or trust) subjects assets to a distribution delay ranging anywhere from 4 months to over 2 years. During this time period, creditors and individuals are allowed by the court to step forward to stake claims against the estate of the deceased. As such, assets are generally frozen until the probate process is complete. From a beneficiary's standpoint, this means waiting on the sidelines at the mercy of the probate system. The implications of this can be dire and lead to unnecessary losses. With asset freezes being at the crux of the matter, funds stored in a deceased individuals bank account(s) cannot be withdrawn, property cannot be sold nor transferred to next of kin, mortgages may lapse, and foreclosures may be imminent. In summary, passing without a will or trust may lead to the complete and total lockdown of one’s assets for an extended amount of time at an exuberant cost, while subjecting beneficiaries to unnecessary ramifications and risks.

Passing with a Will

Although wills serve the purpose of conveying how assets should be distributed once an individual has passed, issues are still present. Put short, within the United States and other parts of the World, assets listed within a will are still subject to the court’s probate process, rules and most importantly costs. Additionally, validity of wills are subject to approval by the court system and are open to being contested by potential beneficiaries who may not agree with or question the terms denoted within. At it’s best wills help the probate courts in determining how, to whom and by whom assets should be distributed per the wishes of the deceased, however wills are still subject to delays, costs and decisions put forth by the legal system. At its worst, wills deemed invalid by probate courts essentially serve no purpose, and leads to assets and beneficiaries being subject to the same issues as if no will ever existed. Additionally, wills become part of the public record, preventing anonymity should beneficiaries prefer to keep details of an estate private.


Passing with an Estate Trust

Estate trusts compared to the aforementioned asset protection routes are considered to be superior. A properly prepared estate trust comes with multiple benefits, including: being the only estate planning vehicle with the ability to circumvent the probate court system within the United States and similar court systems throughout the World, beneficiary taxation benefits, and creditor protection. Trusts, similar to wills, denotes how and to whom assets held within the trust should be distributed. One major difference compared to wills however, is that that trusts can also define criteria as to when assets should be distributed. This can either be immediately after death, at a predefined future date or time after death, or while the creator of the trust is still alive and well. To better understand how estate trusts work at a high-level, it is important to understand specific key definitions and the various entities/actors involved:

Trust Grantor Trustee An established entity to

which assets can be assigned. The details of a

trust including how, when, to whom, and by whom assets should be distributed live

within documents prepared for the trust. These

documents are typically prepared by an estate law

firm for an established cost.

The individual who establishes and creates the

trust. Grantors are responsible with assigning

assets to their trust (i.e., bank accounts, real estate,

vehicles, etc.). Grantors are also responsible with

selecting a trustee (defined below) and entrusting the details/documents of their

trust to the trustee for execution upon their death.

An individual or organization selected by the Grantor to

administer and execute their trust per the details outlined within the trust. Trustees are

responsible and entrusted with carrying out the wishes of the Grantor. For their time

and effort, Trustees are compensated upwards of 2%

annually, based on the at-time net value of trust assets

under management.

Beneficiaries Individuals or organizations

who have interest in the trust. In other words, these

are the parties to whom assets held within the trust

will eventually be distributed.

Remaindermen Individuals or organizations to whom assets held within

the trust are distributed only after the interest of named beneficiaries has expired.

Although trusts are considered to be amongst the safest estate planning methods available today, pain points and risks are still present: The up-front cost of establishing a trust with a reputable estate law firm can be extremely costly (upwards of $3,000 - $5,000). An incorrectly prepared trust can be subject to contestation by beneficiaries, leading to long drawn out court processes and the potential for nullification. Trusts are additionally not immutable; given that the complete details of a trust must be provided to/managed by a third party (the trustee), the potential for unapproved changes and corruption exists. Trusts are also susceptible to unintended risks such as loss and destruction due its centralized nature.


Ushering in the next generation blockchain solution for estate planning, management and

distribution

Introducing Heir’s Flagship Products and

Suite of Services


Heir intends to usher in the next generation estate planning, protection, and distribution solution by introducing a novel suite of services and offerings to the global market. Heir creates an intelligent online estate trust and beneficiary protection system, backed by high-security features, and a system of rules leveraging Stellar blockchain-based smart transactions working in harmony with Heir’s proprietary AI and deep-machine learning proof-of-life engine. In the near-term, Heir intends to protect cryptocurrency assets, in a borderless, low-risk and highly secured fashion; while enabling a streamlined funds distribution system to beneficiaries. Our long-term goal includes incorporating all asset types, whether digital or not, within Heir’s ecosystem through the concept of real-world asset tokenization and physical anchor locations for a holistic estate planning solution. Our goals are accomplished by leveraging distributed ledger technology, smart transactions, an intuitive and engaging user experience/process, biometric technologies and device integration, and key strategic partnerships. As Heir aspires to become a global standardized solution for estate planning, Heir intends to make our full-suite of services accessible to all individuals, regardless of geography, socio-economic background, among all other classifications and demographic categorizations. Heir believes in estate planning for all, without discrimination.

• Build an intuitive, highly secure, and intelligent online estate trust creation and management system by improvising and transforming today’s traditional processes.

• Drive an effortless user experience to import assets, select beneficiaries

(individuals and organizations), and configure rules for estate distribution, management and planning.

• Leverage the immutability of blockchain technology to preserve and

ensure trusts are executed per the exact parameters set by a Grantor. • Seamlessly marry a user with their intelligent trust using Heir’s artificial

intelligence and machine learning based proof-of-life engine, coupled with multiple tiers of automated and manual checks. This will allow assets to behave in accordance to pre-configured trust rules.

• Distribute funds/assets to Beneficiaries upon the passing of a Grantor in an

automated, effective and fail-proof manner, with a caring touch.

Heir’s Near-Term Goals

Next generation Estate Planning for All


The core of Heir’s estate management decision

making engine. Powered by AI, machine learning,

and the blockchain. Designed to protect legacies.

Forever.

HeirPulse meet

TM


HeirPulse - Heir’s Advanced Estate Management Engine TM

HeirPulse, the engine which powers Heir’s advanced estate management and distribution offering will be built using next generation deep machine learning and AI to enable a new era of estate protection. In it’s simplest form, HeirPulse will serve as a novel proof-of-life system allowing users to check-in periodically at an interval of their choosing, either manually or automatically. By leveraging advanced machine learning and behavioral analysis technology, users will have the ability to allow HeirPulse to integrate into their digital footprint to serve as their personal active estate monitoring system. Should a pre-scheduled Heir check-in lapse, or should abnormal digital behavior be detected, HeirPulse will trigger a series of validations to ensure a user’s well-being. In the event of death, Heir will validate actual demise using multiple tiers of checks and balances, ranging from advanced automated features, to a human validated check and outreach process. In it’s more advanced form, by coupling with recognizable wearable technology devices in today’s market, HeirPulse will enable biometric and behavioral analysis to build digital proof-of-life signatures for users of Heir. By understanding an individual’s life and health patterns, HeirPulse will not only detect the potential passing of an individual, but will also serve as a novel means of proactive health and personal wellness monitoring and alerting system. HeirPulse leverages machine learning to preemptively detect risky user behavior based on various metrics and data to protect assets held by users within Heir’s ecosystem.


heirlooms

Introducing

TM

Heirlooms (HEIR), a Stellar protocol coin/token, will be the cryptocurrency powering and utilized

within the Heir ecosystem. Heirlooms are considered utility tokens, backed by a valid and necessary use case. By possessing Heirlooms,

users will be able to take full advantage of Heir’s advanced suite of offerings and services.


HeirWallet

Beneficiary Wallet Beneficiary HeirWallets are created and initially managed by the grantor, tied to specific individuals. These individuals can be any person a Grantor would like to transfer assets to automatically as per their established Heir estate trust distribution rules. Beneficiary HeirWallets are backed by the same security measures and features of a Grantor’s HeirWallet. Grantor’s will be required to provide respective Beneficiary contact information for purposes of Beneficiary outreach services provided by Heir, a service offering coined as HeirReach.

Heir’s extended suite of products and services

HeirPortal The journey starts for a user at an elegant control panel, used to create their initial credentials, manage their HeirWallet (described below), transfer assets inbound and outbound, and create/configure their estate trust. The HeirPortal solution is powered by a global cloud, secured by cutting-edge technologies, and built by certified master architects.

Grantor Wallet A Grantor HeirWallet enables brand new user sign-ups to hold digital and tokenized real-world assets on a highly-secured and fail-safe online Stellar integrated wallet. Grantors will have the ability to easily transfer assets to and from their HeirWallet. To ensure complete peace of mind and safety of assets held within the Heir ecosystem, Heir intends to never hold the private key(s) required to withdraw funds/assets. Furthermore, each HeirWallet is unique to an individual user and funds are never held, nor pooled together within shared wallets (a common practice for exchanges). Accessing and transacting with one’s HeirWallet will require passing a layered security validation process including two-factor authentication, email/smart device validation, and eventual advanced biometric/facial-recognition validation.

TM

TM


Elegance, security, and unmatched protection of

digital and tokenized real-world assets. Breath easy.

Heir has you secured.

TM HeirWallet


HeirTrust

HeirTrust is the next generation estate trust solution offered by Heir and backed by immutable blockchain technology. By leveraging blockchain-based advanced programmatic transaction technology, Grantors will be able to easily and intuitively build and deploy estate trusts customized per their defined distribution rules. HeirTrust will serve the estate planning needs of all individuals, regardless of level of wealth, geography, or distribution desires. Heir drives an easy and intuitive experience with “ready-to-go” templates based on geography, family dynamics, religious preference, and particular “tried-and-true” estate planning best practices. For users requiring or desiring a highly complex estate planning solution, Heir provides an advanced estate rules customization engine. Grantors will be enabled to define rules to precisely specify to whom, when, and how estate asset distribution should occur. Throughout the HeirTrust configuration process, Heir ensures complete compliance with jurisdictional specific estate planning laws. Post configuration and activation, HeirTrusts are deployed to the blockchain where they live in a perpetual listening state until triggered or inactivated (in which case, an audit trail will exist within the blockchain ledger) by a Grantor. In the event of a death, an activated HeirTrust will execute to initiate a quick, low-cost, automated and secure transfer of Heirlooms and real-world tokenized assets to Beneficiaries per the exact configuration parameters set by the Grantor. As an added fail-safe, by leveraging a series of escrow wallets, Grantors will have the ability to recall distributed assets for a pre-defined period of time should distribution occur due to extraordinary unintended circumstances. The activation of an HeirTrust is managed by HeirPulse, Heir’s advanced estate management engine.

HeirAlert HeirAlert leverages smart device locational information, geo-fencing technology, and integration with numerous data sources to identify potential nearby risks for users of Heir. Natural disasters, political unrest, violent crimes, among other dangers will trigger HeirAlert to inform users of imminent risk for personal well being protection. Should a user’s HeirTrust be temporarily disabled, or should assets be detected which are not presently included within a user’s HeirTrust; HeirAlert will allow for an automated and swift activation of a user’s HeirTrust.

TM

TM


HeirTrust TM

Management, protection and distribution of digital

and real-world assets. All of the benefits of a

traditional estate trust. None of the pitfalls.


HeirAlert TM

Real time threat monitoring and proactive risk

mitigation. Stress, eliminated.


HeirGive

HeirReach Heir’s unique tiered grantor and beneficiary outreach offering will be powered using a symbiotic relationship of AI technology and personalized human-outreach by a member of Heir’s team. HeirReach will serve multiple functions, including: automated and human-validation of a potential death, beneficiary outreach post-HeirTrust execution, white glove HeirTrust customization services, and more.

Heir plans to integrate multiple non-profit partners within the Heir ecosystem to enable a culture of giving and generosity. As part of an HeirTrust, grantor’s can choose to distribute funds to their favorite organizations or charities automatically in addition to, or in lieu of beneficiaries. Partners invited/looking to join Heir’s platform will undergo internal evaluation prior to registration via a dedicated partner portal. Partner HeirWallets will be created and secured using organizational governance rules in addition to the same security measures in place for users of Heir. Heir eventually intends to implement a partner submission and voting system to allow for community consensus of new partner additions.

TM

TM


Omni-channel outreach services tailored to ensure

Grantor wellness and Beneficiary care. Phone,

text, emails, and certified grief counselors when

needed. Live life. Let Heir do the worrying.

HeirReach


TM

HeirGive TM

Automatically distribute funds to your favorite

organizations or charities in addition to

beneficiaries. Heir enables generosity.


start

Blo

ckch

ain

Grantor

HeirWallet

- Holds assets of the Grantor,

including: digital

(cryptocurrency), and traditional

tokenized assets (real estate,

property, etc.)

Asset Tokenization

Engine

-

Enables tokenization of

traditional assets (real

estate, property, etc.)

Ext

ern

al

Third-Party

Exchanges

Beneficiary

HeirWallet(s)

-

Assets are eventually distributed

to Beneficiary accounts per

Grantor’s HeirTrust

configuration

HeirTrust

Triggered

HeirTrust

Configuration Engine

- Ensures estate trusts are

established in compliance

with estate planning best

practices

Activated HeirTrust

- Lives in a perpetual listening

state, managed by HeirPulse.

Applied to assets within

Grantor’s wallet as configured.

HeirPulse

Proof-of-Life

AI/ML Engine

- Next generation

wellness and

HeirTrust estate

monitoring system

HeirAlert

Monitoring

AI Engine

-

Proactive risk

monitoring and

mitigation

External Data Sources &

Third-Party Integrations

Escrow Wallet

- Distribution rules governed

escrow wallet. Activated

post-HeirTrust being

triggered.

Valiu

datio

n &

Benefici

ary

Outr

each

Est

ate

Dis

trib

utio

n

Spouse

Child

Charity

Physical Anchor

Locations

Account

Creation

Account

Funding

Beneficiary

Config

HeirTrust

Config

HeirTrust

Activation

HeirPulse /

HeirAlert

Monitoring

Heir—User Flow & Technical Overview H

eir F

ronte

nd

HeirReach

- Grantor/beneficiary

outreach services

HearReach

Alert

System

Heir S

erv

ices

Laye

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heir + stellar

1 2

The decision to develop on the Stellar network was influenced by the key features, building blocks and benefits provided by the platform. After critical evaluation and thorough solution-fit testing using Stellar's test and public networks, it was determined that Stellar will function as the ideal blockchain platform for Heir to thrive. Furthermore, the core values embodied and promoted by Stellar.org compliments and aligns with Heir’s own values and beliefs. Simply put, Heir and Stellar are a perfect match. Here is why:

why stellar?

Extremely low cost of transactions

The cost of a single-operation transaction on the Stellar network is negligible at 0.00001 XLM. This will allow Heir to provide our advanced features without having to ex-pose users to unnecessary transaction cost overhead.

The right building blocks

When combined and used in a novel way, Stellar’s advanced and declarative transac-tion operations provides Heir with he exact components needed to build an estate man-agement blockchain solution.

3 4 Decentralization in Seconds From the moment a valid transaction is re-ceived, Stellar-Core nodes are continuously flooding/propagating transactions across the Stellar network, with consensus being reached every 5 seconds. For users of Heir, this means near-immediate deployment of their estate trust details to the Stellar block-chain from the moment of activation, with a permanent ledger entry occurring within 5 seconds. Preserving legacies within seconds can now be accomplished by Heir.

Fiat Anchors Heir intends to serve the estate planning and distribution needs of cryptocurrency and non-cryptocurrency holders alike. For the latter target demographic, Stellar en-ables this via the concept of Anchors. Heir intends to leverage the concept of anchor locations as a means of allowing the non-cryptocurrency holding population to enter the Heir ecosystem via traditional assets. Heir endeavors to indirectly increase the global adoption of cryptocurrency by providing a cryptocurrency-based solution to a present day global issue.

5 Integrated Distributed Exchange The integrated asset exchange functionality provided by Stellar, will serve as a bridge to easily allow users to enter the Heir ecosystem. Regardless of the cryptocurrency held by potential users, the ability to quickly exchange current holdings for Heirlooms will immediately be available. Further-more, post-distribution of an HeirTrust, beneficiaries will have the ability to exchange any Heirlooms received for other cryptocurrencies should it be desired.


Heir Versus The Status Quo

No Estate Planning

Traditional Wills

Traditional Estate Trusts Heir

Initial Setup Costs

Not Applicable $0 - $1,500 depending on whether self-prepared, use of a web-based service, or use of an estate law firm

$2,000 - $5,000 depending on reputability of estate law firm

Starting from $1 —Heir believes in making estate planning accessible for all individuals.

Established by Not Applicable Self-prepared, au-tomated services, estate law firm

Generally an estate law firm due to complexity

Self—via Heir’s intuitive suite of services

Complexity of Establishing

Not Applicable Medium High Very Low—using HeirTrust’s intui-tive workflow

Risk of Incorrect Preparation

Not Applicable High if self-prepared Low if prepared by a reputable estate law firm

Low to Medium depending on experience and reputability of estate law firm

Non-Issue—Heir’s validation rules engine ensures HeirTrust’s are correctly established

Exposure to Probate Court System

Yes - Property held solely in the name of the deceased must go through the probate process

Yes - Property held solely in the name of the deceased must go through the probate process

Yes/No - Depends on validity & accu-racy of documents

No—Assets held within a HeirTrust can be compared to a traditional trust, with multiple added benefits including: robust-ness, decentraliza-tion, security, im-mutability, etc.

Asset Distribution Costs Upon Death (upon asset transfer to beneficiaries)

Up to 5% of total valuation of assets held by the deceased. Cost is mandated by country/local pro-bate laws.

Up to 5% of total valuation of assets held by the deceased. Cost is mandated by country/local pro-bate laws.

Varies and can range up to 3% yearly of total valu-ation of assets be-ing managed, de-pending on who is handling the distri-bution/acting as the trustee

Tiered—Starting from 1% of the net-value of assets distributed, depending on asset type and level of service of-ferings selected.


No Estate Planning

Traditional Wills


Contestation Possibility

High High Low to Medium Non Issue—Heir will use multi fac-tored ID and bio-metric validation to eliminate any possibility of contestation

Asset Distribution Time

Up to 2 years, de-pending on contes-tation possibility

Up to 2 years, de-pending on contes-tation possibility

Throttled by responsiveness of trustee

Near-instant, or per exact config-ured Grantor rules

Asset Distribution Handled By

Court appointed family member / representative

Representative indicated within the will, given they are present and capable

Representative or Organization (Trustee) indicated within the Trust, given they are present and capable

Heir + Stellar advanced transactional Operations—Heir provides a gate-way to establish-ing and executing trusts using the blockchain.

Potential of Loss & De-struction

Not Applicable High—Wills are generally written/printed on paper, entrusted to an in-dividual(s), and kept in a centralized lo-cation.

High—Traditional trusts are generally printed on paper, entrusted to an in-dividual(s), and kept in a centralized lo-cation.

Non Issue—HeirTrusts are immutable and stored on the blockchain with a full and complete audit trail.

Immutable (not susceptible to malicious change)

Not Applicable No - Wills are open to corruption via modification by in-dividuals/beneficiaries with malicious intent

No - Trusts are open to corruption via modification by individuals/beneficiaries with malicious intent

Complete Protection—HeirTrust’s are completely immutable and can only be modi-fied by the Gran-tor. Upon activa-tion HeirTrust’s are decentralized and distributed on the blockchain until execution or deactivation by the grantor.


No Estate Planning

Traditional Wills


Customization of Distribution Rules

Not Applicable Low Medium High—A grantor can specify exact details of how, to whom, and when assets should be distributed

Adherence to Wishes of the Deceased

Not Applicable Medium - Possibility of contestation exists

Medium to High - Possibility of contestation exists

Complete Adherence—Heir is designed to only be able to execute HeirTrusts per the exact distribution rules specified by a grantor

Protection of Non-Traditional Assets (e.g. cryptocur-rency)

No No No Yes—Heir’s near-term vision to pro-tect cryptocurren-cy assets, with a long-term vision to tokenize and protect all asset types.

Beneficiary ease

Extremely complex and burdensome

Complex and burdensome

Somewhat burdensome depending on trustee’s adherence to distribution rules

Very Easy—Beneficiaries are informed of distri-bution via HeirReach, and are elegantly guided through Heir’s in-tuitive distribution process to claim their inheritance.

Beneficiary involvement

High High Medium to High Low—Heir ena-bles an extremely straightforward and simple experi-ence for benefi-ciaries via our HeirReach offer-ing. Heir will do the heavy lifting at times of sorrow.


Token Sale Details & Roadmap



heirlooms TM

A Closer Look at the Cryptocurrency Powering Heir

Heirlooms Utility Herilooms (HEIR), a Stellar protocol coin/token, will be the currency utilized within the Heir ecosystem. Heirlooms are utility tokens which will allow users to take full advantage of Heir’s suite of offerings and services when held within the Heir ecosystem.

It is important to note that Heirlooms will serve as the medium for cryptocurrency-based asset transfers from Grantors to Beneficiaries upon the execution of a Grantor’s HeirTrust*. Should a Grantor desire to hold other alternative coins in addition to or in lieu of Heirlooms, Heir intends to eventually enable the automated exchange of such coins to Heirlooms upon the execution of a Grantor’s HeirTrust.

*The above does not apply to the distribution of tokenized real-world assets (e.g., real estate, property, etc.), which is part of Heir’s long-term vision.

Initial Valuation & Future Outlook The initial valuation of Heirlooms (HEIR) will be set at 0.10 USD / 1 HEIR for purposes of Heir’s anticipated public token sale.

Heirlooms’ long-term valuation post token sale, will be determined and driven by the market price set by buyers and sellers of Heirlooms. As listing on secondary exchanges may occur, the price/exchange rate of Heirlooms may be susceptible to fluctuation and market volatility. Due to the market driven nature of cryptocurrencies, Heir cannot make promises regarding the future valuation of Heirlooms.

Token Fact Sheet Token Code HEIR

Token Finite

Supply 1 Billion

Token

Standard Stellar Asset

Release into Circulation Heir intends to generate a one-time finite supply of 1 Billion Heirlooms total. As Heir’s adoption will initially closely be tied to the global adoption of cryptocurrency, it is necessary to account for the large projected influx of newcomers to the cryptocurrency market. As such, although the complete supply of Heirlooms will be initiated at one time, Heirlooms allocated to the public (50%/500MM in total) will be released into circulation over a period of 5 years at the tentative rates and schedule denoted in the table to the right. Heirlooms not presently in circulation will be securely held within a series of Heir initiated and governed wallets, and will be bound by distribution rules per Heir’s established release rates and schedule.

0.10 USD

=

1 HEIR

Phased Release Schedule Release

Date May 2018 2019—2023

Heirlooms

Released

into

Circulation

250 MM HEIR

(Heirlooms Allocated

for Public Token Sale)

+ 50 MM HEIR per year

(introduced into

circulation on a quarterly

basis)

Total

Heirlooms

in

Circulation

Up to 25% of all

Heirlooms in

existence, dependent

on public sale

outcome

A minimum of 50% of all

Heirlooms in existence

heirlooms TM

Token Sale Details

In order to successfully bring Heir’s vision to reality, Heir intends to raise funds via a public token sale of Heirlooms. A pre-sale is not being conducted as development of Heirlooms will be completed prior to our

anticipated token sale. Heir additionally plans to enable a seamless and intuitive token sale process via Heir’s token sale portal planned for release in advance of the public sale.

Team 10% / 100M HEIR

To ensure alignment with the long-term

goals set forth by Heir, tokens allocated

to team members will be subject to a

vesting schedule and held within

corporate governed wallets until vesting

periods have lapsed.

Token Allocation

1B HEIR

Total

Company 40% / 400M HEIR

Tokens allocated to and held by Heir, Inc. will be kept within a series of

company governed wallets and will be used for purposes of: R&D, strategic

partnerships, continued market expansion, and future liquidity needs

at the discretion of Heir.

Token

Sale Price

0.08 USD* - 0.10 USD /

HEIR

Initial

Coin Sale

QTY

250M HEIR

(remainder will be

released over a course

Accepted

Currencies

Lumens (XLM), Bitcoin

(BTC), Ethereum (ETH)

Hardcap $25M USD

Start /

End Date TBD

Public 50% / 500M HEIR

(250M HEIR provisioned for initial token sale, remaining 250M to be released over a course of 5 years)

Heir’s initial token sale will consist of offering 250M HEIR out of the 500M HEIR provisioned for eventual release to the public, with the intention of raising $25M USD. The remaining 250M HEIR will be introduced into circulation over a period of 5 consecutive years as denoted on page 29. Heir’s goal of raising 25M USD will allow for the delivery of the near-term milestones outlined per Heir’s roadmap (page 33).

Should an amount less than 25M USD be raised due to unsold tokens, Heir will continue delivery per the roadmap until funds are exhausted & subsequently raised via a future token sale offering. Should this scenario be encountered, Heir intends to only introduce future Heirlooms into circulation at the at-time market value of Heirlooms. Heir will ensure all measures are taken to prevent unnecessary potential price volatility.

*For Stellar community incentivization purposes, Heir intends to sell a limited amount of Heirlooms at a discounted rate of 0.08 USD/HEIR. Stellar Lumens (XLM) will be the only accepted currency for the incentivized token sale offering. Details to be provided on Heir.io as our token sale date approaches.


heirlooms TM

Intended Usage of Funds Raised

Funds raised via Heir’s public token sale will be used bring Heir’s near-term goals and vision to reality. Post-deployment of Heir’s application and services, Heir, Inc. intends to eventually become completely financially

independent. This will be accomplished through the various revenue generating means which will be exercised in the future, and may include: HeirTrust upstart fees, estate distribution fees, and tiered support services. By doing so, Heir will be able to continuously build for the future by adding additional offerings and features to our portfolio of services.

Usage of Token Sale Funds

30%Marketing &

Partnerships

50% Development

20% Legal

Up to 50% of token sale proceeds will be allocated to

development efforts including capital and operational

expenditures required to build Heir’s applications and next generations suite of services. Release of features may be limited to MVP or complete

functionality and services depending on the amount of

funds raised and how close the figure is to Heir’s hardcap goal.

Funds will additionally be

allocated to on-going technical overhead costs, for example, the the maintenance of/running of

global Stellar nodes to serve the needs of not only Heir’s users,

but the growing Stellar community and network.

Given the current landscape of distributed ledger technology

and cryptocurrency, in addition to the legalities involved

regarding the estate planning industry, Heir intends to work

closely with trailblazers in various legal verticals globally. Heir

intends to build a holistic standardized estate planning

solution for all, and as such will work in collaboration with/rely on the expertise of industry leaders

to bridge the gap between bleeding-edge technology and traditional estate planning laws.

As Heir will serve the needs of a

global audience, it is important to stay within the bounds of each

regions/jurisdictions estate planning rules and regulations.

Heir intends to pursue a heavy marketing campaign to spread awareness and increase Heir’s

overall user adoption via multiple mediums. The types of

campaigns funded will vary, and will/may include digital ads,

hosting/attending of live global forums/events, print/media

commercials, and incentivized offerings/programs.

Funds will also be allocated for partnership purposes, which

includes garnering the support of leading household names, financial/trust management institutions, charities/NPOs,

among others. By building a strong network of partnership

support, Heir endeavors to become a trusted household

name of its own.



TM

Heir’s Near-Term Roadmap

Heir intends to bring our vision of next generation estate planning to reality per the roadmap and key milestones outlined below. Delivery of remaining key near-term milestones will be dependent upon the amount of funds raised via Heir’s public token sale. Shall Heir’s token sale goal of 250M Heirlooms sold ($25M USD raised) be met, Heir will

complete delivery of the items indicated below, excluding future phase goals denoted on page 33.

Ideation & Inception Q2 2017

Founding members of heir identify opportunity and need to transform the estate planning industry using AI, Machine Learning, and blockchain

technology.

Business Formalization Q3 2017 Formalization of Heir, Inc as a US based entity

Blockchain Platform Testing Q1 2018

Team completes multi-phased blockchain platform selection tests, including:: solution-fit, stress/load tests, and global network testing

leveraging Amazon’s global cloud infrastructure

Selection of the Stellar Platform Q1 2018 Heir completes multi-phased blockchain platform selection testing, including: solution-fit evaluation, network stress/load test, and global network tests leveraging Amazon’s global cloud infrastructure

Whitepaper & Full Site Release April 2018

Complete details regarding Heir’s products and suite of services are revealed to the public

Public Token Sale Q2 2018 Stellar community incentivized token sale begins (0.08 USD/HEIR) followed by Heir’s mainstream public token sale (0.10 USD/HEIR). Token sale conducted through Heir’s streamlined and intuitive token sale portal.

Infrastructure & Platform Architecture Q2 2018

Setup of foundational backend required to deliver Heir’s suite of services using Amazon’s global cloud infrastructure. Includes building of security

and configuration services using scalable, secure and fault tolerant architecture per industry best practices.

Deployment of Global Stellar Nodes Q2 2018 Deploy Stellar core nodes using containerization throughout all applicable Amazon Web Services regions. Goal: Ensure Heir will thrive for all users regardless of their geography, while increasing reliability and ensuring performance metrics will be met..

Heir’s Near-Term Roadmap

Blockchain Layer Development Q3 2018

Development of Stellar blockchain-centric functionality required to deliver Heir’s services, using cloud-native microservices.

Heir Frontend & Supporting Backend Development Q3 2018 Development of Heir’s frontend and services layer, including: Account creation, Beneficiary management, digital asset funding, and HeirTrust functionality along with development of the HeirTrust Configuration Engine..

HeirPulse Phase 1 Development Q4 2018

Development of HeirPulse’s MVP features, which will include manual check-in functionality and digital footprint integration for proof-of-life and

wellness monitoring purposes.

HeirReach Phase 1 Development Q4 2018—Q1 2019 Buildout of Heir’s outreach services using automated SMS, phone, email, and push-notification channels..

Release of Heir App V1.0 Q4 2018—Q1 2019

Public release of Heir’s native applications which will ship with the functionality developed until this point. Includes desktop, iOS, and Android

applications, along with integration with various mainstream wearable technology devices.

HeirAlert Dev & Release Q2 2019 Release of HeirAlert real-time risk monitoring and proactive mitigation functionality

Future Phases / Goals Q3 2019+

Release of real-world asset tokenization engine & services Build out of Heir flagship physical anchor location

Integration of Heir with global estate planning firms and institutions through continued partnerships Continued market expansion into new geographies and demographics

HeirReach Phase 2 Rollout Q2 2019

Deploy advanced tiers of HearReach services, including the initial buildout of Heir’s global response center staffed with Heir personnel for white glove

support and service of Grantor’s and Beneficiaries.

HeirPulse Advanced AI & ML Release Q3 2019 Enable biometric and behavioral analysis HeirPulse features using advanced AI and deep machine learning technology. Allow for the management of HeirTrust using digital proof-of-life and wellness monitoring metrics.


heir the next generation blockchain estate planning solution · 2019-06-30 · money, real estate,...

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