Meet the Bennett family
If Something Happened to Michael Bennett Today
Michael (45) and Sarah (43) live in California with their two kids, Emma (12) and Noah (9). They've built a solid life — a home, retirement accounts, a small business, and life insurance — but like most families, they've never seen what would actually happen if one of them died tomorrow.
Here's exactly what Sarah Bennett and the kids would face — the relief, and the gaps. This is the picture Heritas gives every family.
Total Estate
$3,228,000
Transfers Smoothly
$1,670,000
bypasses probate
Would Probate
$1,558,000
5 assets
Beneficiary Gaps
5
$1,558,000
Probate Exposure
5 assets totaling $1,558,000 would likely pass through probate before the family could access them.
| Account | Value | Why |
|---|---|---|
| Family Home | $850,000 | Sole ownership, no beneficiary designation |
| Emergency Savings | $95,000 | Sole ownership, no beneficiary designation |
| Brokerage Account | $265,000 | Sole ownership, no beneficiary designation |
| Bennett Design LLC | $300,000 | Sole ownership, no beneficiary designation |
| Crypto Wallet | $48,000 | Sole ownership, no beneficiary designation |
Beneficiary Gaps
5 assets ($1,558,000) have no beneficiary designated.
| Account | Type | Value |
|---|---|---|
CRITICALBrokerage Account | Brokerage | $265,000 |
Family Home | Real Estate | $850,000 |
Bennett Design LLC | Other | $300,000 |
Emergency Savings | Savings | $95,000 |
Crypto Wallet | Crypto | $48,000 |
2 assets have a primary beneficiary but no backup. Adding a contingent beneficiary keeps these out of probate if a primary can't inherit.
1 designation not yet confirmed as officially filed.
A beneficiary recorded only in Heritas has no legal effect. Each designation needs to be on file with the institution, DMV, or county recorder — then marked confirmed on the asset.
Estate Tax Exposure
Total estate value: $3,228,000
Federal exemption (per person): $15,000,000
What the Family Would Need to Do
Heritas turns the chaos into a clear, ordered checklist your family can actually follow.
- 1
Locate the will or trust documents
Check home safe, attorney files, or safe deposit box.
- 2
File for probate
5 assets ($1,558,000) would need to pass through probate.
- 3
Verify 1 beneficiary designation is officially on file
Tesla Model Y (TOD not yet confirmed as filed). A beneficiary named only in Heritas has no legal effect until the designation is recorded with the institution, DMV, or county.
- 4
Contact 8 financial institutions
Chase, Fidelity, Schwab, Northwestern Mutual, Coinbase, Wells Fargo, Tesla Finance, American Express
- 5
Transfer 3 retirement / brokerage accounts
Beneficiary-designated accounts transfer outside probate but require death certificate and claim forms.
- 6
Resolve 3 debts ($541,500)
Notify creditors. Some debts are forgiven at death; others must be settled from estate assets.
- 7
Notify Social Security and government agencies
SSA, IRS, Medicare/Medicaid, state agencies as applicable.
- 8
File final tax returns
Final personal return plus estate/fiduciary return if required.
This is what clarity feels like.
The Bennett family can see exactly where they stand — and what to fix first. Add a single asset and Heritas starts building the same picture for you.
Start mine freeThe Bennett family is fictional and the figures are illustrative. This preview is for educational purposes only and does not constitute legal, tax, or financial advice.