> For the complete documentation index, see [llms.txt](https://cjay-1.gitbook.io/cjay-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://cjay-1.gitbook.io/cjay-docs/overview/problem.md).

# The problem

## Most people leave nothing behind, on purpose or not

Caring.com's *2024 Wills and Estate Planning Study* found that roughly **one in three US adults has a will**, and the number has fallen among adults under 55. The most common reasons people give are "I haven't gotten around to it" and "it feels complicated and expensive." The result is that the majority of estates pass through the default legal process with no instructions from the person who died.

## The digital half of an estate is usually lost

A will, even when it exists, rarely covers:

* Self-custodied crypto — if the seed phrase isn't findable, the funds are gone.
* Exchange and brokerage accounts — often frozen for months pending paperwork.
* Password managers, email, cloud storage, photo libraries.
* Subscriptions, domain names, and online businesses.

Families routinely discover that the practical keys to a person's digital life died with them.

## The traditional process is slow and expensive

Commonly cited figures for US probate:

* **6 to 9 months** for a straightforward estate; **years** when contested.
* **3% to 7% of estate value** in court, executor, and attorney fees.
* Public record — the estate's contents and beneficiaries become searchable.

## Custodial "solutions" replace one trust problem with another

Products that promise to pass on your crypto usually work by holding it for you and promising to send it on when you die. That asks the family to trust:

1. that the company still exists at that moment,
2. that it will act correctly and promptly, and
3. that it hasn't lost or misused the funds in the meantime.

That is the same trust problem as a bank, without the regulation.

## What Heirloom changes

Heirloom moves the two things that matter — **the funds** and **the release rule** — onto a Soroban contract:

* The committed assets are **deposited into the contract**, not into Heirloom.
* Release requires **M-of-N approvals from the owner's own guardians**, checked on-chain.
* After approval, **anyone** can finalize the release; beneficiaries then **claim directly** from the contract.
* Before release, the **owner can cancel and get a full refund** at any time.

Heirloom the company runs the reminders, the encrypted archive, and the friendly interface. It cannot move the money and cannot decide the outcome. If it disappears, a beneficiary with the contract ID and their wallet can still claim.


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