Estate Planning Document Management

[Matt]

Super important for people with complex finances, lots of bank accounts and 'gigs'. I'm currently looking through a few vendors for this and wanted to ask what you do, here is a couple:

Everplans
Estate Assist
Best Bequest (broken https....!)

Also, there are some products that offer a 'Vault' as part of their financial planning software. One is EMX (emoney) so you may have access to this via your current advisor/broker.

I like the idea of a dedicated spot to locate all your documents/papers, and that you can grant access to others. I'm starting to talk with these companies to learn how it works, eg how do I set up access for someone to my account that doesn't show them my net worth, but does allow that level of access should I die.

 

[addemoh]

I like the idea of a dedicated spot to locate all your documents/papers, and that you can grant access to others. I'm starting to talk with these companies to learn how it works, eg how do I set up access for someone to my account that doesn't show them my net worth, but does allow that level of access should I die.

Hey @Matt - thanks for sharing the links.

Given the growing digital landscape in the financial planning industry, these companies seem to offer a valuable service. I will be looking into what they (and others) offer as a means to add value to my firm's clients as we transition into the paperless-office era. I look forward to discussing any pros and cons that might exist between their offerings!

 

[Matt]

Hey @Matt - thanks for sharing the links.

Given the growing digital landscape in the financial planning industry, these companies seem to offer a valuable service. I will be looking into what they (and others) offer as a means to add value to my firm's clients as we transition into the paperless-office era. I look forward to discussing any pros and cons that might exist between their offerings!

I just spoke with Everplans briefly, they seem to be a strong all rounder and perhaps the leader out of these 3. Having a deeper dive next week.

 

[addemoh]

Same here, I just scheduled demo's for Everplan and Estate Assist next Wednesday. It will be interesting to see what all they offer.

 

[raenye]

Hmm, I need to register a domain for my new company Initiating And Managing Digital Estate & Assets Distribution.

 

[ElainePDX]

Here I finally have a handle on all my PWs with 1Password (which, BTW, I still love) and now this !

While much of our estate planning documents remain in plain, old fashioned paper folders, a system that worked just fine when I settled my parents' estate years ago, these online options would make it a lot easier for our kids who may be very far from the file cabinet/safety deposit box that now houses it all.

I look forward to your deep dive, @Matt, as well as any info that @addemoh wants to share too.

As for 1Password, not only does it make my life easier but should something happen such that my kids need access to my online accounts, it will make it a lot easier for them too. So I see PW management as a part of estate planning. I trust 1Password. How secure do you think the estate planning sites are?

 

[Matt]

How secure do you think the estate planning sites are?

I don't trust Best Bequest, the other two seem better. Though one of them tried to highlight security issues of the other during their sales pitch... will find out more as we go along.

 

[addemoh]

I had a demo with Estate Assist today and will have one with Everplan tomorrow afternoon. This weekend I'll put together a brief write up comparing the two.

How secure do you think the estate planning sites are?

Estate Assist seems to be secure and they state that they "use security technology that exceeds that of online banks and hospitals."

That means data is:

• Stored using 256-bit Advanced Encryption Standard
• HIPAA compliant
• Transferred with Secure Socket Layer tech that relies on 2048-bit certificates

Additionally they back each member with a $1 Million security guarantee policy and offer Identity Theft protection (similar to LifeLock) to protect you from any potential data breach.