GenWealth Tests Crypto Inheritance Without Sharing Seed Phrases on Cardano

GenWealth invited Cardano users on November 5 to test how beneficiaries can claim crypto from a vault using their own wallets. The application runs on Preprod, a Cardano test network, and lets participants try both sides of an inheritance plan, from setting the distribution rules to claiming the assets. Beneficiaries use the wallet address named in the plan and never need the owner's seed phrase.

Owners Set Beneficiaries and an Inactivity Deadline

A GenWealth vault is a smart wallet that the owner manages through a connected Cardano wallet. The inheritance plan applies to assets deposited in that vault. The app assigns the vault an ID when the owner creates it. That ID can be used to import the vault if it does not appear in the app.

Owners can name up to nine beneficiaries and assign them specific tokens or NFTs, a percentage of the remaining assets, or both. The percentage allocations must add up to 100%. An owner could, for example, reserve an NFT for one beneficiary and split the rest of the vault 60–40 between two people. If the NFT recipient also has a percentage allocation, that person can claim the NFT first and then claim their share of the remaining assets.

The owner also sets how long the vault can go unused before inheritance can start. Depositing or sending assets through the vault records new activity, and the owner can update the deadline directly. The plan can be edited before inheritance begins. According to GenWealth's documentation, inheritance cannot be canceled on-chain once it starts.

Beneficiaries Claim Assets in Two Stages

The owner can name an executor and grant specific permissions, such as closing a DeFi position to make assets available for distribution or changing selected inheritance settings. An executor authorized to trigger inheritance can start the process earlier than the standard inactivity deadline if the owner's settings allow it. The executor connects their own wallet and can use only the tools tied to their permissions.

A beneficiary connects the wallet named in the plan. If the vault does not appear, they can search by signing a message with that wallet or import the vault using its ID. The app can show that a beneficiary is listed before any assets become available to claim.

Once inheritance starts and the applicable waiting periods pass, beneficiaries can claim the assets set aside for them. They can then claim their percentage of the remaining vault when the second stage opens. Each claim requires a separate wallet approval. If assets remain unclaimed after an additional period set by the owner, GenWealth's documentation specifies a designated community address that may receive them.

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One Authorized Signature Can Restore Vault Control

The separate recovery plan lets an owner assign a new wallet to control the same vault if access to the original wallet is lost. Owners can designate up to five recovery addresses, including other wallets they control or wallets belonging to people they trust. Once the recovery inactivity period expires, any one of those wallets can authorize the change on its own. GenWealth's documentation recommends setting a shorter delay for recovery than for inheritance, giving the owner time to regain control before distribution can begin.

The public trial began October 26 with an initial two-week window. In its November 5 forum post, GenWealth indicated it was considering extending the trial through November 16. Participants use test ADA and other test tokens on Preprod. The team is collecting bug reports and feedback on where testers get stuck, including when they switch from setting up a plan to claiming assets as a beneficiary.