Revolutionising Estate Planning: Meeting the Growing Demand for Comprehensive Digital Solutions

On May 3rd, 2024, a compelling conversation started by Dr. Milly Barker on X.com asked a critical question: “Who is building the ‘if I die, here is all my important info’ software?”. This query, highlighting an evident gap in current estate planning services, quickly gained traction with over 2 million views and thousands of engagements. 

Clearly, the public’s concern about managing digital legacies has reached a tipping point.

Estate planners today face a pivotal opportunity. While they provide essential services for will creation and asset distribution, a significant portion of modern estates—often encompassing a vast array of digital assets and online accounts—is still left unaddressed. This oversight not only complicates the administration process posthumously but also places an unnecessary burden on the bereaved.

The need for comprehensive solutions in estate planning is more pressing than ever. As digital footprints expand, so does the complexity of managing these assets after one’s death.

Dr. Barker’s viral post serves as a stark reminder that people are actively seeking solutions that estate planners are currently not providing. By incorporating services that manage the entirety of an estate, including digital assets, estate planners can distinguish themselves from competitors, attract new clientele, and provide enhanced services that meet modern needs.

Moreover, advising clients on the importance of including digital assets in their estate plans is not just about offering a new service—it’s about providing sound advice that protects their interests and eases the burden on their families. A comprehensive digital estate solution ensures that no asset goes unnoticed and that the administrative process is as smooth as possible.

One such solution utilised by many law firms in the UK is BePrepared. BePrepared provides secure, digital vaults that act as a repository for all critical information, accessible posthumously by executors (i.e. Digital Safe Custody). These vaults, tailored to each firm’s branding, can are integrated into estate planning practices as a standard part of their service offerings. Not only do these tools safeguard information, but they also drive new revenue, streamline the probate process, save significant time and reduce costs significantly.

The digital age demands a re-evaluation of traditional estate planning. The legal industry must embrace technology and expand its services to include comprehensive digital estate management. By doing so, estate planners will not only meet the current market demand but also enhance their reputation as forward-thinking, client-oriented professionals. This is an unmissable opportunity to lead in a rapidly evolving field and to provide clients with the peace of mind that their digital legacies are as secure as their physical ones.

 

This article was submitted to be published by BePrepared as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.

 

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