Potential Usage of Smart Contracts for Inheritance Planning

Abstract

A part of wealth planning is succession planning. As of today, wills or inheritance contracts are drawn up. People may still be concerned that their testament will not be carried out according to their wishes. The risk that their testimony will be recognized as invalid, misinterpreted, or that an objection will be filed is high. The testator's last will could be implemented with a smart contract and not be manipulated thanks to blockchain. Banks could maybe offer smart contracts as an additional service in inheritance planning. This thesis shows the advantages for banks as well as for clients.