Our lives are becoming increasingly digital and when it comes to estate planning that’s not a good thing.
Los Angeles, CA (PRWEB) March 31, 2014
Family Archival Solutions has announced new features that help families preserve not only important end of life documents, photos, videos and the location of assets, but also creates a complete digital inventory to assist families in times of family crisis and loss.
“Our lives are becoming increasingly digital and when it comes to estate planning that’s not a good thing,” explains Mark Nicholas, CEO and founder of Family Archival Solutions. “Most of our assets, memories and records are stored behind passwords and are lost and frequently forgotten over time, and many of our financial statements increasingly delivered electronically and lost behind email and online accounts,” Nicholas explains, adding that "Families are increasingly left in the dark."
A 2011 study by McAfee (http://www.mcafee.com/us/about/news/2011/q3/20110927-01.aspx) proposed that the average family has $37,000 in value of unprotected digital assets. According to Nicholas, “It is not just a computer crash that will cause those assets to be lost. A sudden death or crisis is becoming the most common occurrence causing families to lose their most precious assets. Family Archival Solutions stresses that this is not a cloud or internet problem and that local password protected applications such as Quicken are equally notorious causes for loss of family information.
“Password storage is not sufficient,” explains Nicholas. “Our solution does not depend on sharing passwords but rather by paying attention to different ways the information can be recovered without introducing risks of account sharing, violation of terms of use or applicable laws, and misconduct.”
Nicholas is a lawyer and specialist in the field of securities, compliance, privacy and estate administration and knows firsthand how prevalent the problem of lost information and assets is and has witnessed hundreds of families ravaged by poor planning and lost documents. 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.
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