Lost documents and instructions can result in complete chaos for surviving families.
Los Angeles, CA (PRWEB) March 18, 2014
While most Americans fail to prepare estate planning documents such as wills, trusts, powers of attorney and living wills, the legal and estate planning industries don’t like to discuss the fact that millions of wills, trusts and other end-of-life documents which are prepared ultimately go missing each year resulting in months—and sometimes years—of unnecessary stress when a family member passes away.
The statistics underscore the intensity of the problem are shocking:
- Over 60% of U.S. adults will die without a basic estate plan
- $4.9 billion in other unclaimed assets are turned over to the government annually with only $1.7 billion in assets reclaimed
- More than $1 billion in life insurance is unclaimed annually
- Most wills held by lawyers, CPAs and financial professionals are never claimed
Family Archival Solutions has introduced a solution to help families and estate professionals store and recover this important family documentation. In conjunction with the National Will Registry, a free service to help families and estate professionals record the location of these important documents, Family Archival Solutions will provide lifetime document storage to index and store the documents for the family or estate professional.
Mark Nicholas, a lawyer and specialist in the field of securities, compliance, privacy and estate administration knows firsthand how prevalent the problem is and has witnessed hundreds of families ravaged by poor planning and lost documents. “Documents are not merely lost or damaged at home,” Nicholas explains. “A shocking number of wills and trust documents are never claimed or made nearly impossible to locate, and even are misplaced at law offices and financial institutions as a result of mergers, office relocation and retiring account managers. Lost documents and instructions can result in complete chaos for surviving families.”
The National Will Registry (http://www.nationalwillregistry.com) was created to enable families and estate planning professionals to name the locations of any important end-of-life documents including wills, savings accounts, investment accounts, pensions, insurance policies, family heirlooms, real estate interests and online identities. Family Archival Solutions (http://www.familyarchivalsolutions.com) extends protection with the storage of those important documents and paired with comprehensive services for families and estate professionals that assist in estate administration.
Family Archival Solutions, Inc. was formed in 2010 and provides highly secure estate protection services to individuals, families, financial institutions and estate planning professionals. Based in Los Angeles, the company utilizes security features from Iron Mountain to provide the highest levels of data and document protection. To sign up visit http://www.nationalwillregistry.com and http://www.familyarchivalsolutions.com for detailed information about trends in estate planning, online security and other important end-of-life details. Call (800) 732-2139 or email info-at-familyarchivalsolutions.com for additional information.