With so much of our information stored in a digital format, it’s not a leap to consider having your estate plan in a digital format as well. It certainly makes the executor’s job much easier.
Having a comprehensive digital vault to store all of your essential life information with bank-level security becomes a complete archive of everything your loved ones will need should something happen to you. You can securely store your will, other estate planning documents, a list of passwords and even funeral instructions in your secure vault that gets shared with your executor or designee upon your passing away or incapacitation.
There are many benefits to storing important information online such as portability and ease of access. The Revised Uniform Fiduciary Access to Digital Assets Act allows fiduciaries, such as executors of a will or trustees over a trust, to access some digital assets, but does not give full access to all of your accounts without you specifying that access in certain legal documents. Using an online vault, like Everplans, streamlines this access.
Verify the online tool you choose has the proper security. It’s also important to note that while online storage is convenient, it should not replace seeking expert advice in estate planning. It also should not replace having physical documents saved in a safe place.
For more information on taking your estate plan into the digital space, contact Stouffer Legal in the Greater Baltimore area for recommendations.