What is Inherit?

Preserving wealth during someone’s lifetime is always going to be a milestone that not too many will be able to achieve. Surprisingly, here we are not even talking about increasing someone’s wealth but simply preserving it from being diluted. As hard as it may sound, many families have lost their hard-earned generational fortunes even with the assistance of professional and licensed financial advisors, and that’s why Inherit’s first objective is preserving wealth before anything else. The good news is that Inherit’s second objective is increasing every family’s wealth with the assistance of life insurance polices, and it’s what we define as “inheritance insurance”, but this will be explained later on.
Now, as we were saying, if preserving a family’s wealth is something extremely difficult to achieve even with sound mind, being sophisticated and having the assistance of qualified financial advisors, let alone imagine how could this possibly be achieved once someone has passed away!
The million dollar question today is how to prevent a deceased person’s fortune from being diluted the moment they passed away and until it has reached the hands of the decedent’s heirs? It may not look that obvious but this short period of time starting from the moment when the decedent dies and until the very moment when all the heirs have received their inheritance from the testator, there is where our experts at Inherit see a window for several different and many bad actors who are trying to dilute or divert the testator’s wealth the moment they died or became incapacitated in a direction different from what that same testator proposed in their will.
Statistically speaking, building wealth can take decades if not a few generations of work, but it can also take an incredibly short period of time to end up being partially diluted or even all wiped out and gone forever with just a few bad decisions. At Inherit, our team has seen this happen over and over again because of “bad actors” who are always around in most inheritances trying to take advantage of testators who are normally seniors not making the best decisions.

It is during these short and fragile periods of time where Inherit is putting a laser focus, trying to prevent families from being taken advantage of, guiding them through their decision-making moments when the head of a family is not in a position to make the best financial choices, becomes incapacitated or simply dies unexpectedly.

Inherit is the first startup built to prevent the loss of wealth -which most commonly happens during that very short period of time when the head of a family, or someone administrating wealth within a family can’t opt for the best interests for their loved ones, becomes incapacitated or suddenly passes away-. All this happens much more frequently than most people can even imagine. To put things more in perspective, every head of a household and every individual holding wealth -without an exception- is going to become incapacitated or will die unexpectedly at some given point in life. Again, there is no exception here. If there is no plan in place to preserve the property and assets of a testator once someone dies and until their heirs have taken over, many tragic things can happen economically speaking. This is why Inherit will become a necessary tool for wealth management! Inherit.com is the TurboTax of Inheritances. It is as boring as taxes can get, but yet we are making it become completely unavoidable if the goal is to achieve a smooth transitioning inheritance. Failing to plan has always equaled to planning to fail, and Inherit is a mechanism to prevent this tragic event once death or incapacity knocks someone’s door.

The main reason why everyone’s ancestors have usually never passed-on their know-how on this crucial and sometimes catastrophic event that Inherit is focusing on, -meaning on how to pass on wealth from one generation to another-, is simply because of a series of factors that happen all together at once and build-up nothing but frustration and endless confusion:

  1. PEOPLE DIE ONLY ONCE AND IT HAPPENS UNEXPECTEDLY. No one can be experienced at something that only happens once in a lifetime and catches us at the “end” in the cycle of our lives. Basically, death tackles most people during the weakest periods of their lives, which is normally when they are very advanced in age or when they become physically or mentally incapacitated.
  2. NO DATE OF DEATH KNOWN: No one knows the exact time in life when they are going to pass-away, and there is no way to determine even an approximate date of death in the vast majority of cases. Death is by nature something completely unexpected which will take us all by surprise.
  3. PEOPLE THINK THEY WILL NEVER DIE BECAUSE DYING ONLY HAPPENS TO OTHERS, UNTIL IT HAPPENS TO THEM: Everyone thinks that dying is something that will only happen to others, but never to them! Until they suddenly die, of course!
  4. HUNTING WILLS: People who have been diligent and have prepared a will and a last testament with an estate planning attorney do not realize that a will is of no legal value whatsoever unless the paper-document can later be found once the testator dies, and in many cases wills end up getting lost or they are hidden by bad actors with malicious intentions once the testator dies or becomes ill.
  5. THE INTENTIONS OF LAST WILLS IN MANY CASES ARE NOT FOLLOWED: The main reason why most wills are never followed strictly by their executors is because the estate’s heirs never get to read the will’s content and in consequence they can’t demand what the testator wanted in writing. Of course, this happens because the testator is now dead and the new decision maker of that decedent’s will now becomes its executor.
  6. LIFE EXPERIENCE: It’s hard to pass on a life experience to your next generations of something that requires you to die in order to be able to understand what mistakes you should never-ever allow to happen to your future generations.
  7. LACK OF COMMUNICATION: Since most testators are usually reluctant about disclosing to their heirs what they will be passing-on upon dying, most of the time all that you are going to hear from an heir is that their family-estate was nothing but a mess, an absolute nightmare, and that they got taken advantage-of by not well-intended actors.
  8. REJECTION TO ESTATE PLANNING: People are constantly avoiding to plan who they are going to give all their hard-earned wealth once they pass away. Let’s face it, no one wants to spend time planning on how to give away all their hard-earned wealth once they’ve pass away. The sad news is that if this isn’t prepared ahead of time, someone else will do it for the testator, and in many cases a family’s fortune can end-up in the wrong hands, or even in the hands of the unclaimed property’s government’s office in the USA.

With this said, it’s completely imaginable how this succession of events happening simultaneously can become the perfect recipe for many families suddenly loosing all their wealth to the wrong hands of bad actors and in a very short period of time.

Inherit is building a whole new category in the inheritance industry which we defined as “Post-Life Security”. It’s obvious that it’s important to engage Inherit’s services as soon as possible, but where Inherit’s service becomes crucial to have in place is within that precise moment when the testator passed away to prevent a tsunami of unexpected events. Within a few hours in the first days after a person has passed away, and while the loved ones of most decedents are mourning the death of this family member, bad actors are moving fast to defraud or dilute the testator’s estate. Bad actors only care about profiting the moment the testator suddenly died. They know they have a small window of time before to act while the heirs are grieving the death of the testator. This is where Inherit can make an incredibly huge difference, protecting the testator’s wealth with post-life security.

What exactly does Inherit do for testators and families?

Inherit is a platform where testators can login safely to upload and share all the information on when, where and how to obtain all the vital documents, property and assets that they intend to pass-on to their beneficiaries the moment they passed away.

In a few words, Inherit is a sophisticated and well engineered death-alarm that notifies the decedent’s heirs on how and where to find everything that’s being passed on once the testator died. Inherit’s system is constantly sending out notifications per the testator’s preferences and instructions on checking whether this person is alive. Now, in the precise moment in which the testator stops responding to these life notifications and the system detects it, Inherit’s platform will inform all the named heirs on what the testator left behind. Alternatively, the testator can also inform its heirs before its death on the plans on how and where to find and collect their portion of the inheritance. Now our experience tells us that testators will always prefer to inform their heirs of all the wealth they must pass on once they die and usually not before, but of course, exceptions can also be the norm. Inherit is crucial at informing the heirs because it won’t be done by human intelligence but by artificial unbiased intelligence.

Information is everything. If the heirs of an estate can’t find the will of a deceased testator when needed, how good can a will and last testament be? Imagine all the wills that were never found because who found them first was not named on the will -or they were named but still wanted more-, and decided instead to do something to steer that inheritance in their favor by hiding or destroying this will. In many cases bad actors hide or destroy these wills to defraud the decedent’s estate.

At Inherit we discovered that pretty much all inheritances always have to deal with one if not a few or several of these bad actors. fyi: Inherit’s ceo is an international inheritance lawyer (licensed in Argentina) with more than two decades of inheritance experience worldwide. He built Inherit after watching these patterns repeat themselves, case after case.

Now, what exactly is a bad actor!? Bad actors are individuals in the inner-circle of the testator who became incapacitated or died suddenly; these so-called “bad actors” are either not legally entitled to inherit anything, or if they are, they want more than what they will be entitled to, and because of their greed they make their way through the inheritance to take a part or all of the estate of the decedent against what was intended by the testator in writing.

Of course, Inherit’s ultimate goal is that one day and with just a few clicks people will be able to allow their beneficiaries to inherit all their wealth instantly through the blockchain. We are confident that if all this is imaginable, it should be 100% possible to materialize Inherit’s idea with AI and machine learning. Within just a few seconds after someone has passed away and with just a few clicks people will be able to inherit a family’s fortune; but for now we want to do one thing at a time, by achieving simple baby-steps. Today Inherit’s goal is to provide information on how, when and where to inherit all the testator’s vital information and wealth. Without this information a will and Last testament, a trust, or even the property and assets of a decedent are completely worthless to an heir if this can’t be found to do a take-over. Inherit is like an inheritance GPS helping its heirs find everything as fast as possible so that the estate is safeguarded until it reaches the hands of the beneficiaries that the decedent named on our platform.

Today tracking and locating wealth in an estate is one of the three top-pains and priorities in this industry!

Inherit is an encrypted vault in the cloud to preserve and transfer digital inheritance information on a blockchain. The blockchain is the only way to prevent all the testator’s information from being deleted by any third party, or even by bad actors with conflicting interests once the inheritance information was stored on Inherit.com’s platform.

Inherit’s security strategy includes two-factor authentication, data redaction, and AES 256-bit encryption. Inherit is also SOC 3, HIPAA, and PCI DSS certified because this type of security is what makes Inherit to be the world’s 1st and undisputed inheritance platform.

At Inherit, we are confident that we are building something that the world already needs. We hope you feel the same as us.

Thank you,

The Inherit Team