Safeguarding Your Legacy, Beyond Wills, Trusts, and Deeds
As a real estate attorney, I regularly witness the importance of safeguarding your property through the right paperwork and a comprehensive estate plan. However, a well-rounded and comprehensive estate plan can oftentimes extend beyond the four corners of a will or trust agreement. The digital age presents unique challenges in the world of estate planning: How do you ensure loved ones can access critical online information after you’re gone? Thankfully, the digital age also has provided a slew of tools that can be leveraged to make sure that wishes are effectuated after someone’s passing. One of these tools is WeExpire.org.
What is WeExpire.org?
WeExpire.org steps in as a user-friendly solution for navigating this digital landscape. But it goes beyond just digital assets, acting as a secure digital vault for a wide range of information intended for future release. More importantly, WeExpire.org ensures this information is delivered only when a pre-determined trigger occurs, typically inactivity for a set period. Think of it as a digital dead man’s switch, delivering and revealing your information only when necessary. This functionality makes WeExpire.org a valuable tool for anyone looking to ensure that after they are gone their loved ones will have the information they need.
What types of information can be provided? The sky is the limit, but it could include:
- providing login credentials for online accounts;
- providing the location of hidden valuables, such as a treasured piece of jewelry or a treasure chest full of gold;
- providing combinations or codes to unlock safes;
- providing security keys, encryption keys, etc.; or
- simply to pass along heartfelt messages for family, such as to convey gratitude, love, or even apologies.
A Valuable Ergänzung, Not a Replacement
Although WeExpire.org offers a user-friendly and creative solution, it certainly has limitations, considering that it’s primary intention is to pass information once someone has died. With that in mind, it needs to be pointed out that this service should never be considered a substitute for a comprehensive estate plan crafted by a qualified attorney. Think of it as a singular and specialized tool that takes up a very small (think 0.001%!) space in the entire toolbox that is your estate plan. Stated another way, while this one tool can complement your overall strategy; it should never be the overall strategy.
Here’s why a robust estate plan remains essential:
- Limited Functionality: WeExpire excels at communication, but it can’t handle core estate planning tasks like transferring asset ownership or appointing guardians. Wills and trusts (and ladybird deeds!!) are irreplaceable for matters like this.
- Contestability in Court: Unlike a well-drafted and properly executed will, WeExpire messages hold (very likely) no legal weight, whatsoever, and would probably be virtually useless in court, particularly concerning account access. Formal legal documents provide a stronger foundation.
- Platform Dependence and Accessibility: WeExpire messages rely on the platform’s functionality and recipients’ technical know-how. Estate planning documents ensure your wishes are documented and accessible regardless of technological changes.
- Security Concerns: Although WeExpire prioritizes data security, no online platform is entirely immune to breaches. Traditional documents offer a more verifiable way to record your intentions.
- Digital Asset Access Nuances: Even with login information in a WeExpire message, legal restrictions might prevent access to certain accounts without proper legal documentation providing the appropriate legal authority to actually access the thing. Unauthorized access could be criminal in many situations. Comprehensive estate planning, including a will or trust, ensures legal and authorized access to digital assets and accounts, according to your desires.
Building a Secure Legacy
By understanding these limitations, informed individuals and practitioners can effectively leverage WeExpire.org alongside a comprehensive estate plan to create a secure and legally sound foundation for your legacy. WeExpire.org is a valuable tool, but it’s not a substitute for legal or financial advice, nor a replacement for a comprehensive estate plan. Remember, consulting with the right professionals – estate planning and real estate attorneys, financial planners, CPAs, etc. – ensures all aspects of your legacy are addressed properly.
Conclusion
WeExpire.org offers a unique way to communicate important information after death or incapacitation. It’s a message in a bottle delivered when you can’t be there. However, don’t let it be the only message or the only bottle. For a truly comprehensive and legally sound plan, always always always consult with a qualified estate planning attorney.
