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Kadesh Will

Kadesh Will​

Kadesh Will

Kadesh Will allows a Kadesh Wallet user to transfer the assets in their wallet to a designated heir in the event of their death. Thus, Kadesh Will enables the user to create an inheritance contract (will). The user's inheritance contract is stored on the blockchain and can only be viewed or modified by the user.

The person who is assigned as the heir to the account of the user who wants to use the Kadesh Will service is assigned as a passive user or a passive wallet owner. As in the KYC system, KYC verification of passive users is made and their contact information is saved into the system.

If the user who wants to pass on her digital assets does not have access to their wallet for the time period specified or if the heir or heirs doesn’t contact with Kadesh legal service, the inheritance contract is activated automatically.

The system operates differently depending on whether the heir or heirs is a Kadesh Wallet user. If both the user and the heir or heirs are Kadesh Wallet users, with a prior order, this transaction can be performed as an automatic transfer between wallets.

If the heir or heirs is not a Kadesh Wallet user, when the system issues an inheritance contract warning, the Kadesh legal service steps in and contacts the heir or heirs. When the heir or heirs present the user's (legator's) death certificate and identity information (within the period determined by the partner legal service, which differs from country to country) to one of the legal services with which Kadesh has partnered. After the confirmation of the death, the passive user is assigned as the main user by the legal service. Due to security concerns and potential objections, the relevant wallet is closed to all transactions for 30 days. At the end of this period, the passive user is given all the rights on the wallet as the main user.

For the Kadesh Will service certain amount KDS token should be kept locked in the Kadesh Wallet. Before the Kadesh Wallet transfer, a 5% KDS token commission is deducted from the total wallet balance.

Digital assets or contracts transferred to Kadesh users through the Kadesh Will service may be taxed, depending on the regulations of the heir or heirs country of residence. If the official authorities request it, Kadesh will share information about the wallet and its owner (except the password, super key, and biometric data) with the official authorities through partner legal services in the relevant country.