Non-fungible token for automatic execution of aspects of an estate

Patent metadata

Field	Value
Publication number	US-2025252433-A1
Application number	US-202217823692-A
Country	US
Kind code	A1
Filing date	Aug 31, 2022
Priority date	Aug 31, 2022
Publication date	Aug 7, 2025
Grant date	—

Abstract

Systems and methods may generally provide a non-fungible token for automatic execution of aspects of an estate. An example method may include receiving information from a user, corresponding to a financial asset, the information identifying a right to be conferred to an entity on occurrence of a trigger event, generating a non-fungible token encapsulating the right to be conferred to the entity related to the financial asset, and storing the non-fungible token on a secure chain at a server. The example method may include determining whether the trigger event related to the user has occurred, and automatically outputting, in response to determining the trigger event has occurred, an indication of the non-fungible token to the entity.

First claim

1 . A method comprising:
receiving information from a user, corresponding to a financial asset, the information identifying a right to be conferred to an entity on occurrence of an incapacitation trigger event; generating, at a processor, a non-fungible token encapsulating the right to be conferred to the entity related to the financial asset; storing the non-fungible token in a block on a secure chain at a server, the secure chain using an encryption scheme to hash the block; determining the incapacitation trigger event related to the user has occurred; verifying the block based on the hash; automatically outputting, in response to the determining the incapacitation trigger event has occurred, an indication of the non-fungible token to the entity, wherein the non-fungible token is kept secret from the entity by the encryption scheme until after determining the incapacitation trigger event has occurred; and automatically transferring content of the non-fungible token to the entity by executing a smart contract stored in the non-fungible token.

2 . The method of claim 1 , wherein the incapacitation trigger event is death of the user, and wherein the right is conferred to the entity occurs outside of probate.

3 . The method of claim 1 , wherein the incapacitation trigger event is incapacitation of the user and wherein granting the right includes granting a healthcare advanced directive power of attorney to the entity.

4 . The method of claim 1 , wherein generating the non-fungible token includes encapsulating a non-financial asset to be granted to the entity, the non-financial asset including at least one of a password or an access code.

5 . The method of claim 1 , wherein generating the non-fungible token includes encapsulating a financial power of attorney to the entity over the financial asset.

6 . The method of claim 1 , wherein the financial asset is a bank account, a retirement account, or a real estate holding, and wherein the right transfers legal title to the financial asset.

7 . The method of claim 1 , wherein the non-fungible token includes a smart contract conferring the right, and wherein automatically outputting the indication includes causing the smart contract to execute.

8 . The method of claim 1 , further comprising:
receiving, in response to automatically outputting the indication, a rejection of the right from the entity; and transferring the right to a second entity.

9 . The method of claim 1 , wherein generating the non-fungible token includes generating a representation of the non-fungible token in a virtual reality environment.

10 . At least one non-transitory machine-readable medium including instructions, which when executed by processing circuitry, cause the processing circuitry to perform operations to:
receive information from a user, corresponding to a financial asset, the information identifying a right to be conferred to an entity on occurrence of an incapacitation trigger event; generate a non-fungible token encapsulating the right to be conferred to the entity related to the financial asset; store the non-fungible token in a block on a secure chain at a server, the secure chain using an encryption scheme to hash the block; determine the incapacitation trigger event related to the user has occurred; verify the block based on the hash; automatically output, in response to the determination the incapacitation trigger event has occurred, an indication of the non-fungible token to the entity, wherein the non-fungible token is kept secret from the entity by the encryption scheme until after determining the incapacitation trigger event has occurred; and automatically transfer content of the non-fungible token to the entity by executing a smart contract stored in the non-fungible token.

11 . The at least one non-transitory machine-readable medium of claim 10 , wherein the incapacitation trigger event is death of the user, and wherein the right is conferred to the entity outside of probate.

12 . The at least one non-transitory machine-readable medium of claim 10 , wherein the incapacitation trigger event is incapacitation of the user and wherein operations to grant the right include operations to grant a healthcare advanced directive power of attorney to the entity.

13 . The at least one non-transitory machine-readable medium of claim 10 , wherein operations to generate the non-fungible token include operations to encapsulate a non-financial asset to be granted to the entity, the non-financial asset including at least one of a password or an access code.

14 . The at least one non-transitory machine-readable medium of claim 10 , wherein operations to generate the non-fungible token include operations to encapsulate a financial power of attorney to the entity over the financial asset.

15 . The at least one non-transitory machine-readable medium of claim 10 , wherein the financial asset is a bank account, a retirement account, or a real estate holding, and wherein the right transfers legal title to the financial asset.

16 . The at least one non-transitory machine-readable medium of claim 10 , wherein the non-fungible token includes a smart contract conferring the right, and wherein operations to automatically output the indication include operations to cause the smart contract to execute.

17 . The at least one non-transitory machine-readable medium of claim 10 , further operations to:
receive, in response to automatically outputting the indication, a rejection of the right from the entity; and transfer the right to a second entity.

18 . The at least one non-transitory machine-readable medium of claim 10 , wherein operations to generate the non-fungible token include operations to generate a representation of the non-fungible token in a virtual reality environment.

19 . A device comprising:
processing circuitry; and memory including instructions, which when executed by the processing circuitry, cause the processing circuitry to perform operations to: receive information from a user, corresponding to a financial asset, the information identifying a right to be conferred to an entity on occurrence of an incapacitation trigger event; generate a non-fungible token encapsulating the right to be conferred to the entity related to the financial asset; store the non-fungible token in a block on a secure chain at a server, the secure chain using an encryption scheme to hash the block; determine the incapacitation trigger event related to the user has occurred; verify the block based on the hash; automatically output, in response to the determination the incapacitation trigger event has occurred, an indication of the non-fungible token to the entity, wherein the non-fungible token is kept secret from the entity by the encryption scheme until after determining the incapacitation trigger event has occurred; and automatically transferring content of the non-fungible token to the entity by executing a smart contract stored in the non-fungible token.

20 . The device of claim 19 , wherein the non-fungible token includes a smart contract conferring the right, and wherein operations to automatically output the indication include operations to cause the smart contract to execute.

Assignees

• Wells Fargo Bank Na

Inventors

• Ramilo Ray Joanna Luz Reyes
• Das Indranil
• Penmetcha Krishnamraju V
• Sin Ling Yee Lindy
• Salim Sadie S
• Ward Marc R

Classifications

• G06Q2220/00

  Business processing using cryptography · CPC title

• G06Q40/055

  Trading non-fungible tokens [NFT] · CPC title

• G06Q40/0225

  Bank transfers not related to payment transactions · CPC title

• G06Q40/0223

  For planning or pre-staging a bank account transaction · CPC title

• G06Q20/405

  Establishing or using transaction specific rules · CPC title