As a professional getting closer to retirement, creating a will, trust, and estate plan might feel increasingly urgent. But where do you begin? And who has the time? It might feel overwhelming to create and collect documents with all the different professionals required to protect your estate, including financial planners, lawyers, and insurance agents. Then the question becomes, “How do I keep them secure, organized, and up-to-date?” It can be difficult to stop and put the energy into estate planning when it doesn’t feel as urgent as your day-to-day life. It is, however, a long-term necessity.
The great news is there are plenty of professionals who want to help you plan for your future. Many financial planners and insurance agents find that clients come to them, hand over all of their important documents and paperwork, and ask their planner to help them secure and organize it.
Sometimes, clients even pull out a box of all of their personal paperwork and ask their advisor what they should do with all of it. In cases like this, it can be intimidating for both parties. The greatest risk is a loss of assets because you didn’t plan accordingly to secure your documents. And then, they are not able to be passed down to others in case something happens to you.
Every year, billions of dollars of assets are lost — whether they are real property assets or claims not being paid by carriers —because people don’t have a fully developed business or estate plan.
Most people have the good intention of leaving behind assets that they hope will care for their family, business, or things they value, but most people need some direction and assistance to develop a successful legacy plan.
Many people look to their financial advisor, but most financial advisors do not have an easily accessible, organized technology tool to secure their client’s most important documents. This is why the LegacyArmour platform was developed.
LegacyArmour’s digital vaults provide individuals with a process and location to secure their long-term asset protection plans, and this enables them to securely store all of their important documents in one place in order to be passed to others when the time is right. Far too often, the unexpected happens and a family is left searching for documents, not knowing a loved one’s wishes, or simply lacking the information required for social media sites or bank accounts. Planning ahead and using a tool like LegacyArmour fills this void.
Most people go through each day engaging in the tasks they’ve laid out for that week, but legacy planning is just that— planning for future events that feel far removed from your day-to-day business. Legacy Armour is here to provide quick and efficient tools to address estate planning. The platform provides individuals with all of the templates they need to securely store their will, power of attorney, and even health directives. This type of planning confirms hard decisions in advance and creates peace for when unexpected life events come along.
You have worked so hard to build your life’s legacy. Why not invest a few hours to make sure that you have the peace of mind that things can pass on smoothly when you’re not there anymore?
Cryptocurrency Legacy Planning
One of the most important assets that requires information to be passed down is investments in Bitcoin. The fundamental premise for cryptocurrency is that only the person who created the wallet has information to access the assets. The software itself is a complex algorithm with access to assets easily lost if the private key is not remembered or passed down. There is no back-up option for accessing these investments as this New York Times article explains how many investors have lost millions in Bitcoin assets,
”But the cryptocurrency’s unusual nature has also meant that many people are locked out of their Bitcoin fortunes as a result of lost or forgotten keys. They have been forced to watch, helpless, as the price has risen and fallen sharply, unable to cash in on their digital wealth.
Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion — appear to be in lost or otherwise stranded wallets, according to the cryptocurrency data firm Chainalysis. Wallet Recovery Services, a business that helps find lost digital keys, said it had gotten 70 requests a day from people who wanted help recovering their riches, three times the number of a month ago.”
It is imperative to make a succession plan to pass on the encrypted “key” in preparation for any unexpected events. Using a succession planning tool like Legacy Armour can send the instructions for the key to access your cryptocurrency wallet to a successor.
Life Planning Made Easy with Added Life Monitoring
Anyone who needs to make a plan for their assets could benefit from an easy, organized mechanism that allows them to share crucial information with ease in the event that they are not around. It is a great responsibility to make sure that preparations are in place when you are no longer available to answer their questions. The truth is, life planning is about life, not mortality. No matter what, you should be thinking about succession plans. Remember, it’s all about the folks you leave behind— that is why you should make the effort to plan for their future.
LegacyArmour offers user-friendly, secure technology to store both your personal and business succession plans all in one place. When you purchase a yearly subscription, you can use one of four vaults to store passwords, instructions on how to access your digital wallets, account names and information, and even phone numbers of people who might have this information. Then, you assign a recipient for this information, which simply requires a full name, email, and phone number.
Legacy Armour also provides life-monitoring technology. If you go unusually silent on social media or seem to be incapacitated based on a number of trackable factors, the system will detect this automatically and send out an email package to your chosen recipients with a link to a message created by you for that individual.
When your recipient receives the link to connect them to your plan, it ensures that your loved ones know what to do, where to find critical documents, and even get to hear the thoughts you want to leave them within your own voice.
Assuming that nobody else knows about the email package, Legacy Armour’s technology can detect whether a person has stopped their normal routines somewhere between two to six weeks after there has been a life-altering event. They do this by monitoring your presence in the digital world (posting on social media, et cetera, to see if there is activity) through the consent of the user.
Legacy Armour CEO Sahar Ismail explains, “Besides our high-tech techniques, we also use some primitive techniques. For example, youhave us ping you to see if you’re available or not. After three failed times (they can designate the frequency — daily, weekly, quarterly), then basically we can say that there is something wrong and we will reach out to you in person to confirm if you are ok. LegacyArmour is the only company that has this personal, live outreach to its clients. If we determine that it is time, we release the information as you have instructed. It’s a combination of both high-tech and manual mechanisms to make it the least invasive to the information owner but also the most reliable to deliver it if they were actually deceased or incapacitated.”
Security Levels of Encryption
Legacy Armour was built with zero-knowledge encryption. It only allows you, the owner of the information, and the person(s) you designate access to the secure information. Third parties cannot decrypt it. In fact, even Legacy Armour cannot decrypt the information you store in its vaults.
Legacy Armour was built for users' security and privacy. Each person who has a vault assigns a recipient and then uploads the instructions that will be sent to the recipient to access their vault. When you assign a recipient(s), you also pick three passphrases to unlock the vault. Then you decide whether the recipient needs to answer one, two, or three of those passphrases to be able to unlock the information. Those phrases and passwords are not stored on the LegacyArmour site. They are encrypted before they leave your computer. Only the sender and the recipient can unlock/decrypt the information.
Different Types of Information that Needs to Be Secure
Legacy Armour provides a secure platform to store wills, trusts, power of attorneys, long-term care information, birth certificate, marriage license, and life insurance policies. Unfortunately, most people don’t organize, store, or even plan for devastating events.
What can you put into the Legacy Armour platform? You’re provided one terabyte of storage. You can upload video or audio messages — messages to your children and loved ones that inspire them when you are no longer there. Additionally, this tool enables you to put any important content in a secure place:
- Medications and health instructions
- Power of Attorney
- Life Insurance
- Personal Passwords
- Social Media Usernames and Passwords
- Lease Agreements
- Partner Information
- Business Loans
You can put your entire life into Legacy Armour.
Discover an Innovative and Secure Platform for Making a Great Plan for Your Future
There is a growing number of family legacy planning companies on the market. So, what sets us apart from others? We provide you with the highest level of security that goes beyond military-grade encryption. Most companies only encrypt data after it is uploaded. We encrypt your important information before it is uploaded to us.
We also provide you with multiple vaults for multiple recipients, allowing you to encrypt each vault with a unique passphrase. The LegacyArmour platform was designed and built by certified security professionals driven by a passion to protect you, your privacy and your family and to give you the ability to secure not only your physical assets but also your intangible assets, and we are the only company that includes a personal verification before releasing information.
Anything that is meaningful to you can be put in the vaults to be passed on to your loved ones.
To see how easy it is to use the Legacy Armour platform click here to view our demonstration video. We are here to help you plan for peace of mind.