No matter how prepared you or your clients are, managing an estate after a death can be an arduous, time consuming, and expensive process. Executors must track down and organize wills and trust documents, locate accounts, notify creditors, beneficiaries, and agencies all while dealing with the emotional challenges of losing someone close. Even with a well-organized estate that process can stretch several months and require significant time and effort by the executor, probate attorney, financial advisor and other professionals helping the process along. Recognizing these challenges, The Estate Registry offers a suite of tools that can help prepare, manage and in some cases help beneficiaries complete the process faster.
LegacyNOW
One of the most important elements of a smooth estate distribution is having an estate plan in place. Just about any financial or legal professional will tell you that having a will or trust in place is critical to ensuring the distribution of assets according to the owners wishes.
Unfortunately, most estate planning documents exist in binders on physical paper. This means trustees, executors and beneficiaries will have to track down the documents, ensure they are the most recent and then identify all listed accounts and assets. Since many estate plans are written several years before they are needed, oftentimes the assets and accounts may have changed significantly, leaving significant guesswork to the heirs and executors.
By providing a “digital lockbox” for estate planning documents LegacyNOW takes advantage of current technology to provide cloud based storage of estate planning documents. When the owner passes away, beneficiaries don’t have to worry about finding relevant documents, but instead gain access to the most current documents uploaded by the attorney and accessible by any professionals the owner deems appropriate. By linking to current accounts and the most recent documents, significant guesswork is removed. This allows executors and heirs to begin the process much more efficiently and with a reduced likelihood of disputes.
NotifyNOW
Once the proper documents are located and the executor is identified, one of the first and most time consuming jobs begins: notifying creditors, agencies and beneficiaries that the owner has passed away. For the executor, who bears the legal liability for ensuring the process is done correctly, this can be a stressful process.
NotifyNOW can make this process significantly easier by allowing the executor to notify all creditors at once with the click of a button.
InheritNOW
Even with great preparation the process of settling an estate can still be a lengthy process, especially for beneficiaries in difficult financial circumstances. Those heirs may create extra work for the professionals attempting to settle the estate.
For beneficiaries with immediate needs, InheritNOW can provide access to capital immediately. With an Inheritance Advance, InheritNOW will provide immediate cash to the beneficiary in exchange for an assignment of a portion of the beneficiaries inheritance. This process allows the beneficiary to get access to liquidity without the need for credit or financial underwriting.
Whether your client is just putting an estate plan in place, has taken over as an executor or is a beneficiary in need of liquidity, The Estate Registry offers tools that can help make the process easier and more efficient.
Learn more about partnership and co-branding opportunities by contacting The Estate Registry at info@estate-registry.com or calling 1-888-831-9837.
