Why Digital Estate Plan Storage
Beyond the Safe: Why Digital Estate Plan Storage is Critical
By Ryan Andersen on Sept 22nd, 2024 • 5 min read
Beyond the Safe: Why Digital Estate Plan Storage is Critical
Estate planning is a crucial step in safeguarding your legacy and ensuring your final wishes are honored. However, crafting an estate plan is only part of the solution. A surprisingly common mistake many make after creating their estate plans is failing to store these vital documents securely and make sure they are accessible by the right people (your family, agents or legal team) when they need it.
It's not enough to have a plan, if no one knows about it or can't find it when needed.
The Cardinal Sin of Estate Planning: Storage
One of the gravest errors in estate planning is improper storage of documents. An estate plan tucked away in an envelope, sitting in a safe or a filing cabinet that no one else knows about or can access, is nearly as good as having no plan at all. Similarly, medical directives, outlining your wishes for healthcare in case you're unable to communicate are useless if no one can access them during an emergency.

Consider the case of Henry, a well-prepared entrepreneur with a comprehensive trust outlining detailed provisions for his assets and beneficiaries. Unfortunately, the trust document was locked in a bank safe deposit box, and Henry was the sole key holder. When he passed away unexpectedly, his family struggled to access the trust. The ensuing legal delays and financial complications caused significant distress during a time already fraught with grief.

Another difficult example is the case of Emily. Emily had thoughtfully prepared a healthcare directive to avoid life-sustaining measures she didn't want. When she suffered a severe stroke, her directive was locked away in her home safe. Unknown to her family and the hospital staff, they proceeded with all possible life-sustaining interventions—a scenario Emily wanted to avoid. By the time her children located the directive, unnecessary procedures had already been performed, contrary to her explicit wishes.

The Modern Digital Solution
So, how do you avoid the pitfalls of traditional storage methods? The answer: secure digital storage with controlled access. In today's world, storing estate planning documents digitally is not just an option; it's a necessity. Digital storage transcends traditional barriers such as geographical distance and immediate access needs during emergencies.

We created LVED to offer a secure and accessible alternative, ensuring that your estate planning documents are both safe from unauthorized access and readily available to the designated individuals when necessary.

LVED provides two key advantages:
  • Bank-Level Security. LVED uses advanced encryption and security protocols to protect your sensitive information, similar to those used by banks.
  • One-Click Accessibility. LVED allows designated individuals, whether family members, agents or legal executors, to access necessary documents instantly with just one click. This feature is crucial during emergencies or after unexpected events, ensuring no delay in executing your wishes.
Secure and accessible storage of estate planning documents is as crucial as the details contained within them. Without the ability to retrieve these documents when they are most needed, even the most meticulously prepared estate plan can fail, causing unnecessary hardship for your loved ones.

Is your legacy truly protected if no one can access or execute your plan in critical times? Consider a secure, digital-first approach with LVED to ensure that your final wishes are respected and your loved ones are cared for without delay.

Visit LVED.com today to learn how our estate planning solutions can secure your legacy and provide peace of mind for the future.