Technology has made lives easier, however, for trusts and estates it has created a growing $7 trillion problem. More specifically, for estate professionals website owners and government agencies, it poses new and significant challenges to existing practice and protocols. The average person now has over 130 accounts including financial, social media, email, cloud based storage, eCommerce, cryptocurrency and many more. With so many accounts and no real way to capture our online footprint, it’s easy for digital property and information to be hidden, lost or forgotten. Unlike tangible assets, digital property can not simply be accessed for review or passed on to heirs. Legal professionals and loved ones face a large and intricate maze of privacy policies, account holder agreements (TOSA) and governmental statutes designed to protect account holder privacy. Between digital assets, statutory and contractual mandates, and the sheer volume of accounts, the industry needs a solution now.
Directive Communication Systems, (DCS), where technology meets the outdated world of Trusts and Estates. DCS is the first and only technology based solution streamlining and networking digital asset and online account directives management. DCS provides an easy use to platform for identifying, organizing and cataloging all types of digital assets in preparation for estate affairs. DCS facilitates the process for ALL stakeholders with a platform that captures an individual’s accounts and directives now and into the future, making the service invaluable to clients for their lifetime. DCS simplifies estate administration by handling the communication of final wishes to site owners. In addition to NOT taking account passwords nor knowing the contents of an account, DCS is compliant to site owner Terms of Service Agreements and existing statutes, reducing costs and frustration. For website owners, DCS delivers improved efficiency for account holder death process management with streamlined notifications and online options administration. Ultimately, DCS will deliver a complete data communication network connecting all stakeholders including website owners, estates and government, speeding up a several month process to mere minutes.
rufadaa, estate planning, digital assets, trusts & estates, estate planning, trusts