Digital estate planning service Zenplans has launched to assist advisers in helping their clients organize, maintain, store and selectively share all their most important personal and financial information.
Advisers will be able to aid their clients manage their assets, debts and other financial affairs as well as key information about their daily lives; from their utility provider to their social media accounts.
The system also stores a clients’ wishes – including details about their Will and lasting power of attorney (LPA) and how to organize their digital legacy – with the option to selectively share key details with named delegates.
These delegates can be granted restricted or full access, either immediately or after a particular time – for example, after death, or if the client becomes incapacitated – ensuring that information is quickly and easily accessible by the right people as and when needed.
Difficulties
Zenplans was created by former EY management consultant Stephen Moses after he experienced how difficult it can be to identify and collate all the information needed to administer someone’s estate.
He said: “We all have so much personal and financial information, that it is hard enough to keep on top of it all ourselves, making it almost impossible for our loved ones to sort out when we pass away.
“And now everything is online, it can be difficult to know exactly what assets the person had, let alone where they are, making trying to piece it altogether really stressful at what is already an incredibly emotional time for those left behind.
“I wanted to do something to make it much easier for people to keep on top of all their important information during their lifetime, but also create a way for people to share all that key information securely with those closest to them to make estate administration easy.
“Zenplans helps identify any gaps in a clients’ planning, giving advisers the opportunity to operate at the forefront of estate planning and make a real difference to their clients’ lives.
“It also helps with engagement and encouraging clients and their families to become more involved with their financial planning. And when clients share their Zenplans with their children, it offers advisers an organic way to connect and build meaningful relationships with those on the cusp of the largest intergenerational wealth transfer in history.”
