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Using Digital Tools to Help Your Family with Estate Planning

Estate-Planning2

Most of us don’t like to consider what will happen to our assets once we pass away, because we don’t like to think about our own mortality. However, this is a process all of us must address at some point during our lives. Estate planning involves careful planning, so that your loved ones can gain access to trusts, wills, and insurance benefits after your death. Don’t leave your family in the dark regarding your savings, property, stocks, and other assets. Here are four apps that can help you get organized during the estate planning process

Creating Wills

The WillCrafter app is an excellent primer for those who aren’t sure where to start drafting a will. WillCrafter contains a handy user manual, walking you through the steps to define an estate. You will be able to clearly identify your assets and inform your loved ones on where to find important information. These steps can help your family members avoid lengthy probate court processes. Users also get a clear idea of guardianship processes, so that adult family members can oversee the use of funds inherited by minors. This app addresses a comprehensive range of estate planning concerns, including estate distribution, funeral arrangements, executors, taxes, and more.

Digital Assets

Our lives are becoming increasingly tangled with online opportunities. Chances are, you have online accounts that your loved ones will need to access after you pass away. Services like SecureSafe can keep all of your important data, such as passwords, financial information, and other documents stored safely online. For example, if you own a business with digital assets, it can lead to immense complications for your employees and clients if no one can access administrative information. Or you might have executed stock trades online without creating hard copy documentation. You can provide the executor of your estate with this information, so that they can manage your digital assets with ease. This way, you don’t have to worry about assets in a variety of online accounts slipping through the cracks.

Funeral Planning

Funeral costs can quickly add up and burden your loved ones. While it might seem strange, there are online services that can help you plan ahead for your funeral, so that your loved ones don’t have to worry about the financial and planning obligations. MyWonderfulLife helps you make funeral arrangements, pre-pay funeral expenses, design an obituary, and pass on letters to your family members and friends. This service can be used in conjunction with your other estate planning efforts to make the process as simple as possible for your survivors. MyWonderfulLife helps people confront death in constructive ways that can relieve burden from their family members.

Life Insurance Information

Many insurance companies have their own proprietary app, which allows you to view beneficiaries, examine benefits, and file claims. These tools can be indispensible to your loved ones, who might not have a firm understanding of your life insurance coverage. They could be entitled to receive payments, which can greatly alleviate financial burdens. Make sure to leave your health insurance details in your will and inform your executor about your life insurance company’s online resources. This can make it significantly easier for your family members to access important information about your account.

Getting ready to take the initial steps for estate planning can be an intimidating prospect. However, using online tools to manage your assets and accounts can help you distribute your wealth to your loved ones without fuss. Think about the type of legacy you wish to pass down to future generations in your family. There are several online tools available to make this process easier.

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