Safe4, in association with the Society of Will Writers, have created a facility for the secure online storage and management of all the information that comprises of an inheritance plan, with provision for the rapid and efficient completion of the probate process.
So, what is Digital Inheritance Vault?
The Safe4 Digital Inheritance Vault is an internet-based service that allows your will writer to place all of the information required for your inheritance plan to be held in a secure facility that you can access at any time, from anywhere with an internet connection.
You can also upload information to the vault yourself, and to edit and update documents that are held there, as well as keeping lists of your assets and liabilities up to date.
Whether you access it regularly or only occasionally, the vault will allow you to ensure that your inheritance plan is always complete and up to date.
Is the Digital Inheritance Vault private to me?
Your vault will only be available to you and your will writer. Nobody else will have access to it, unless you specifically request that access be granted to your executor or members of your family, for example. It will also contain an area that is completely private to you, that not even your will writer can see it.
Can I store everything in here needed for probate?
All of the information that your executor will need to carry out for probate can be held in the vault. This will include an electronic copy of your will, as well as any other elements such as trusts, lasting powers of attorney, or deeds. Copies of critical documents such as insurance policies, as well as details of bank accounts, credit cards, mortgages, bonds, and equities.
Other potential issues encountered when carrying out probate include such elements as partly used subscriptions or pre-paid services. These include gym and club memberships, AA or RAC cover, annually paid insurances for the car and home, car tax and TV licence among others.
Many of us now use services such as PayPal or eBay, and indeed online gambling services. Money held in any of these accounts can add to the value of the estate if a record is kept within the vault.
What about my online presence / activity?
Although we may not realise the full extent, almost all of us use electronic services to handle many parts of our lives. We all use email to communicate with family and friends. Years of treasured and valuable correspondence can be lost if email passwords are not available as part of the legacy we leave behind. The leading email service providers will not release email accounts for your successors, no matter what legal proceedings are undertaken.
Other online activities will include our digital presence on services such as Facebook, Twitter, Skype, LinkedIn, and other social media. It can be very distressing for anniversary or birthday messages to keep popping up for loved ones who may have passed away years earlier. If access to such accounts is made available through information stored in the inheritance vault, they can be closed down properly.
If you would like to see a recent video testimonial on Digital Inheritance Vault, you can watch it on our YouTube channel here.
If you would like some advice on Digital Inheritance Vault, Funeral Planning, Will Writing, Power of Attorneys and how we can help you, you can call Sara on 01304 577998 or email email@example.com.
(Thank you to Safe4 for the use of their content for this blog article).