Americans tend to keep their estate planning visible, such as in file cabinets, desk drawers and recycled shoeboxes.
Estate paperwork, which includes files, wills and insurance policies, bank statements and investments, can add up. A daughter might not be able to understand the assets of her late father or who she should contact when she goes through his personal files.
People used to struggle to organize their bank statements or bills a few years back. Online banking simplifies bill-paying and money transfer. Customers can view their transaction history or aggregate their accounts in one place.
Some financial advisors recommend that their clients plan their estates online, using a system similar and as secure to online banking.
Online estate planning allows customers consolidate and keep everything up-to-date, from their credit card information and vehicle information to the pre-nuptial agreements they have made and their plans for the pet.
Online systems can prove to be more secure than paper paperwork which can be damaged by fire or water.
The Estate Vault, which is a software-based plan system, has backups. Primus Telecommunications canada, which has received awards for its support system, stores the company’s data. The Estate Vault advises users to backup their systems, but it also emphasizes how easy it makes it to retrieve data. The Estate Vault can be downloaded from the company’s web site and customers can then re-enter information in case their home computers go down. Customers have the option of keeping their information on secure Web sites, on their own computers, on CDs or USB devices, or in any combination.
Relatives will find it much easier to locate a CD in the safety box than piles of folders and crumpled receipts in times of need. When planning for their estates, people can feel secure knowing their wishes will be fulfilled.
You can learn more about computer based estate planning by visiting www.estatevault.com. Estate Vault trades the NASDAQ OTC using the symbol TEVI.
