Estate planning offers several advantages. You not only minimize expenses and taxes but you also ensure your property and assets are passed down to the right beneficiaries. Due to COVID, many families finally understand the many benefits associated with estate planning and document storage.
However, creating an estate plan sounds difficult, but our digital storage vault in Illinois makes estate planning easier for families. Families often struggle to find physial documents, but an online storage vault can simplify access for loved ones – while also offering data encryption and full system privacy for added protection. To ensure your estate plan is digitally savvy, here are a few tips to keep in mind:
- Create a comprehensive list.
Compose a list of all your digital assets, so your loved ones are aware of what you own and where they can access it. Make sure to include vital information like passwords, online accounts, and other digital property.
- Provide consent to legal documents.
This includes creating critical documents such as a power of attorney both medical and financial, wills, and medical advance directives. These documents should contain language that gives lawful consent for providers to disclose information to those you have designated.
- Backup physical documents in the cloud.
Having physical documents stored at home isn’t enough. Make sure documents and key information is loaded into the cloud and updated regularly. Your online storage solution should provide a roadmap to your loved one so they can easily identify your financial providers, digital passwords, insurance companies, key contacts, etc.
Store and share everything with Life Snapshot®, Inc. Through our services, we can help you create a digitally savvy estate plan that suits your needs. Reach out to us at your earliest convenience for more information on how we can assist you.