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Frequently Asked Questions

How does Legacy Suite protect users with exchanges like FTX?

Holding assets on a centralized exchange such as FTX has significant risks. Legacy Suite supports alternatives such as hot wallets and cold wallets by providing a one-click backup "panic" feature called LegacyLifeline. LegacyLifeline allows users to pre-authorize asset transfers on their non-custodial wallets and quickly execute smart contracts to avoid instances of digital items being held or frozen on exchanges. With this innovation, users can have peace of mind knowing that their assets are secure, even in a distressing situation such as a hack or security breach.

Does Legacy Suite take custody or hold any of my Digital Assets?

We get that question a lot, but we are happy to tell you that it’s YOUR wallet and YOUR assets. You have sole control over them. Our platform is developed using non-custodial digital asset technology, which means we do not take custody of your assets nor control of your private keys. Your assets always remain in control.

Do you require my wallet password or passphrase for NFT/Crypto Will™?

No, we work with smart contracts that does not include us as a mediator entity. This works with your wallet address and addresses of your loved ones. No passphrase or password needed. When the time comes, your assets will be available to be claimed by your loved ones only. Since the solution is fully on chain, your assets will never be lost even without Legacy Suite.

What are your platform security encryptions?

We care about you, and we care about your security. For that reason, our code casters implemented encryption for every step of your suite life journey. The conversion of data from a readable format into an encoded format is what we call "encryption." Our code casters cast an impenetrable wall of security using 256-bit AES encryption out of 128-bit and 192-bit. 256-bit AES encryption is technically the most secure because of its crucial length size. Do you know? Based on estimation, 256-bit AES encryption can’t be overkill because it would take trillions of years to crack using a brute-force attack.

What happens to your cryptocurrency after you pass away?

In 2021, the New York Times reported that around 20 percent of all 18.5M Bitcoin — valued at around $140 billion at the time— appeared to have been lost or in stranded wallets. This data was sourced from the cryptocurrency data firm Chainalysis. Therefore, you must make every effort to ensure this doesn't happen to you, and you properly plan for the transfer of these assets or sharing of private keys to protect these assets.

Can I leave Cryptocurrency and NFTs in a traditional will?

To make sure your cryptocurrency and NFTs aren't lost or forever stranded in your wallet, you might consider outlining the details of your blockchain treasures in your will. However, traditional wills are not designed to hold private information and are typically public records once filed in probate court. So although a will won't necessarily be made public immediately, it's not a good idea to expose your private keys to your wallets. Leaving cryptocurrency and NFTs to your loved ones after your passing requires more planning than that traditional assets. Legacy Suite allows you to create a Crypto Will™️ and NFT Will™️ to leave a detailed guide on how to access your wallets and exchanges. These are not public legal documents; they remain private until your passing and are then shared as instructed to your Digital Executor™️.

What is a Digital Will™️?

A traditional will is a legal document outlining how to distribute your estate when you die. Historically, those items in your estate typically included cash, real estate, investment assets, vehicles, etc. However, as our lives have transitioned online, electronic records, social accounts, and various digital accounts need to be accounted for. A Digital Will™️ helps determine the fate of a person's digital presence once they are deceased. Currently, most states don't formally recognize digital estate plans. Although a Digital Will™️ is not a legal document, it is an informal document that is meant to ensure your "digital assets" are addressed in the scope of your overall estate plan.

What is a Digital Executor™️?

A Digital Executor™️ is the individual which you have designated to manage your digital estate after your passing. The role of a Digital Executor™️ is to assist in addressing all of your digital assets, such as:



Social Media accounts

Email accounts

Phone and computers

Domain names

Paid accounts and subscriptions

Seller's accounts

And so much more

Why do I need Legacy Suite?

In our modern world, many of us still function with archaic estate planning methods and fail to account for our digital assets. Traditional banking and estate planning methods maintain records by a centralized governing body, which typically includes ownership of accounts, titles, and deeds. However, digital assets such as Cryptocurrency and NFTs do not have a 'centralized' tracking system to maintain licenses, titles, and deeds. Legacy Suite seeks to modernize the Estate planning process with our patent-pending platform, which helps you keep your critical ledger of Crypto, NFTs, and all digital assets in one secure personal 'centralized' location. You also can share these vital details with whom you want and when you want. This helps ensure your assets are not lost or stranded and allows your heirs to have full knowledge of all your assets owned, where they are located and how they may access them when you depart from this world.

Glossary of Terms

Administrator - a person who is appointed by a court to administer the estate of a decedent who died without a will.
Ancillary Probate- The probate process for property located outside of the decedent’s “home” state.
Bequest- Property that is given according to the terms of a will.
Bond - an insurance policy to prevent loss or waste of a probate estate.
Codicil - an amendment to a will. When a person dies, a codicil gets added to the original will.
Decedents - a person who has passed away.
Elective Share - An elective share gives a surviving spouse the right to take a percentage or share of a decedent’s estate if the surviving spouse is not satisfied with what was left to them by will.
Estate - The collective real and personal property of a decedent, including their debts and obligations.
Grantor/Settlor/Trustor - A person who establishes a trust.
Gross Estate (IRS) - The total dollar value of a person’s assets at the time of their death. Every asset is considered, regardless of whether or not they were subject to probate or placed in trust. The IRS will also consider assets that were given away within the three years before death.
Heir - A person who is entitled to inherit a decedent’s estate by operation of law when a person dies.
Holographic Will -a handwritten will (several states don’t recognize holographic wills).
Intestate - dying without a valid will.
Inventory - A thorough listing of the decedent’s assets.
Legatee -The persons or entities that are designated in a will to receive the testator’s property. Commonly known as beneficiaries.
Letters of Office/Letters of Administration/Letters Testamentary - documented court authorization for a personal representative to act on behalf of the estate.
Non-Probate Assets - Assets that are automatically transferred to beneficiaries when a decedent passes away. Joint assets and assets with beneficiary designations are examples of non-probate assets.
Personal Representative - Typically an administrator or executor. It can be a person or corporation who acts on behalf of the decedent in connection with administering the estate.
Pour-over Will - A will that directs an executor to transfer any assets that are part of the decedent’s probate estate into the decedent’s revocable trust.
Power of Attorney - A document created by a person (“principal) that allows another person (“agent”) to make decisions for them if they no longer have the ability to make decisions for themselves. Powers of attorney are only valid while the principal is living.
Probate - the process of court-involved administration of a decedent’s estate.
Probate Assets/Probate Estate -assets that were left in the decedent’s name alone. These assets have no designated beneficiary or surviving joint owner associated with them.
Revocable Trust -a legal agreement between a Grantor and a Trustee in which the Grantor transfers assets to the FINISH
Residue -Balance or remainder of an estate after all debts, expenses, taxes, and specific distributions are made to legatees.
Self-Proving Will - A validly executed will that includes notarized affidavits by the witnesses to “prove” the validity of the will at a later date.
Small Estate - not all states recognize “small estates”. Estates that have probate assets that are less than a certain monetary value. Some states have non-probate small estate procedures, in other words, the small estate can be handled outside of court.
Testamentary Trust -A trust that is established within a will and goes into effect when a person passes away.
Testate - when a person dies with a will.
Testator - a person who creates a will.
Trust - A trust is a legal agreement whereby one party entrusts another to hold title to assets. Trusts can be revocable or irrevocable. To create a valid trust the Grantor must have the capacity and intent to create the trust, the property must be transferred into the trust, there must be a trustee to manage the property, and there should be beneficiaries to accept the property.
Trustee - A person, people, or corporation who is responsible for administering the terms of a trust. A trustee is legally responsible for following the instructions in a trust exactly as they are provided.
Will -A legally binding document that transfers a person’s property to designated beneficiaries when that person dies. In most cases, a will is subject to the probate process.

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