The problem with hoarding documents is that as more and more start adding up, it is quite easy to lose track of what’s in there and what’s not – not to mention that large stacks become increasingly difficult to manage. If you are looking to create a legacy plan based on those documents, your family might find it difficult to sort through them. There is also a risk of those files getting damaged.
Today, everything is digital; so much so that succession of your digital accounts – be it your bank account or even the social media account – is tantamount to your physical self being succeeded. So, what’s to stop you from securing your asset and legacy planning ventures online?
From your investment portfolio and insurance plans all the way to scanned copies of physical documents, everything can be uploaded to the cloud for safe storage, ensuring family security when the time comes.
But the cloud isn’t exactly as safe as physical documents. You can’t just upload sensitive information on your iCloud, OneDrive, or Google Drive and call it a day. Instead, you need a digital vault with a Deadman’s switch on it.
What Is a Digital Vault?
Digital vaults, such as the ones offered by LegacyArmour, are more than just storage space on the cloud. They are literal internet-accessible digital vaults that have layer upon layers of protection; ensuring that there is no loophole that could let external traffic inside.
There is just one way in; via the passcode you generate, so make sure it’s complex! If, on the off chance, someone does manage to get in, these vaults then start focusing on ensuring that data flows in, but no data is able to flow outward, effectively hampering any attempts of documents being stolen.
These vaults might seem like ordinary information vaults, but there is one key difference between a legacy planning vault and an information vault. These digital vaults have a Deadman’s switch that gets triggered the moment the primary holder passes away.
These switches are more of a ‘service’ that check whether you are alive or not regularly. This is done either via email, SMS, phone call, or through agents who check up on you. You have the option of controlling whether the documents within are accessible to your family members immediately or after a short while.
Most often, these vaults are available individually. However, LegacyArmour takes a holistic approach toward ensuring that your legacy stays up to date, intact, and becomes available to your family at the right time. For that, we couple our digital vaults and Deadman’s switches with legacy planning experts, each one not only able to advise you, but also help you collect the right documents.
These vaults help eliminate the risks presented by physical documents, along with automatically becoming available to your family, ensuring that there is no inconvenience presented to your family.
If you’d like to learn more about our digital legacy vaults or would like to sign up, we are but a phone call away. Get in touch with our experts via call or email to learn how you can manage your investment portfolio, physical documents, and more.