The Virtual Vault

Lifestrand: A new digital afterlife service

Lifestrand is a new social utility for sharing memories about your departed loved ones. This new digital afterlife service brings together people for purposes of celebrating the lives of those no longer with us.

A memorial is created for the deceased consisting of free space to upload photos, post written memories, and publish timelines that refer to events in your loved one's life.

James Bell

Advance directives not enough to avoid incapacity issues

My mother, who suffered from heart disease, always envisioned that she would die quickly from a massive heart attack. However, sadly, she lingered in poor health for many weeks before she finally passed away. Luckily, years before, she had an attorney draw up an estate plan.

Because of HIPAA laws, the nurses and doctors would not talk to me until I gave them a copy of her health care durable power of attorney. Because her doctor decided to honor her living will, she was spared from the feeding tube and received comfort care during her last pain-filled days.

Without the proper documents and consenting medical professionals, this situation could have been much worse. At minimum, you need to have a living will and a health care durable power of attorney. In some states, a Five Wishes form can be used as a substitute. In either case, you should complete these forms with the assistance of an attorney. If you choose to do-it-yourself, it's possible to omit crucial items. If you make a mistake, you will not get a second chance.

Make sure to discuss the contents of these documents with your physician. Don't assume that your physician has the same beliefs concerning "right to life" and "freedom of choice" issues as you do. If your physician does not agree with your choices, you might need to change physicians. Waiting until you are incapacitated is too late to find out that your attending physician will not provide treatment that agrees with your end-of-life choices. If possible, have your physician complete a Physician Orders for Life-Sustaining Treatment (POLST) form and keep it with your estate plan.

Make sure that your family members also understand your choices. Once again, don't just assume that they have the same exact beliefs as you. Family members could argue in court of law that you didn't fully understand the contents of your advance directives and have them revoked. Having an attorney complete your estate plan along with having your physician complete a POLST form ensures that you fully understand the contents of these documents.

You also need a clear understanding of exactly what treatment you can expect to receive at various health care institutions. For example, a hospital with a religious affiliation may choose not to honor your advance directives because the treatment conflicts with their religious doctrine. Moving an incapacitated patient to a new health care institution can be a frustrating and stressful experience at best.

Most important of all, no matter how much time you spend preparing these documents, they can't be used if they can't be found. Keep your original copies and store backup copies in a virtual safe deposit box (VSDB). It's an ideal place to make sure that your advance directives are available when they're needed most!

James Bell

Are you good to go?

The Good to Go Toolkit and Good to Go Resource Guide were created by CompassionAndChoices.org to help you identify your end of life priorities and help ensure that your final wishes are honored. These materials were designed to guide the decision making process and help communicate your decisions to loved ones.

James Bell

POLST / MOLST helps with end of life decisions

A Physician (or Medical) Order for Life-Sustaining Treatment form is a one-page form your physician can use to turn your wishes into specific written medical orders. Your physician may use this form to write orders that reflect the types of life-sustaining treatment that you do or do not want and that are appropriate for your medical si tuation.

To find out what states have POLST/MOLST forms go to www.ohsu.edu/polst or ask your physician if they are available in your state.

James Bell

Talking about Your Final Wishes

Talking about death is an uncomfortable subject. Most of us expect to die quickly, but the sad fact is that many of us may linger in poor health for an extended period. Talking and planning for death is one of the most important things you can do for you and your family.

AARP has published an excellent article on this topic called "Talking about Your Final Wishes". Make sure to have that talk soon. You owe it to your family!

James Bell

Digital assets not enough to arrange your final affairs

Recently a flurry of new virtual safe deposit box providers has popped up that focus primarily on digital assets. When a person dies, account access is passed on to loved ones. Some have limited upload capabilities. Some focus on sending important messages to loved ones at death.

While all of these providers provide a valuable service, they all seem to fall short of the big picture. What about the beach home burglar alarm access code…the health club monthly fee that continues to drain your checking account after you’re dead…the storage bin that no one knows about but you? A comprehensive plan is needed to arrange your final affairs (see our previous post Arranging Your Final Affairs). Your virtual safe deposit box solution should cover all these areas; in addition to digital assets (see our Final Arrangements Checklist).

When choosing a virtual safe deposit box provider, make sure to compare features and price. You could easily be paying double the price for half the features!

James Bell

Pre-planning your funeral services? Don't lose the deed to your grave

According to a study by Wirthlin Worldwide more than half of Americans pre-arrange their funeral services.  Pre-Arrangement has many benefits such as lower costs and peace of mind.  Once payment has been made you typically receive a contract for any service arrangements and a deed for your grave, crypt or niche.

Since these arrangements are made years in advance, it's possible that you could lose the paperwork.  One of the difficulties with this situation is that each cemetery and funeral home has its own set of regulations and each state has its own set of laws.  You may have to request a lost deed affidavit, sign papers in the presence of a notary, and pay fee expensive fees. Replacing this paperwork is an unwanted headache and just adds to the stress of memorializing your loved ones.

Where do I keep these documents? Storing these documents in a file cabinet at home isn't a good idea. Papers tend to get lost over time, and, even worse, your home could be destroyed by natural disaster. A safe deposit box sounds like a good idea. However, the IRS can seal your safe deposit box after death making paperwork inaccessible.

Your best bet is to digitize these documents and store them in a virtual safe deposit box. That way a family member or trusted party can instantly access this information when it's needed most.

James Bell

Sources

Study of American Attitudes Toward Ritualization and Memorialization
Wirthlin Worldwide
January 2005

Software vendors benefit from virtual safe deposit box API

Estate++, a subscription-based virtual safe deposit box service, has recently published a public API. The API allows software vendors to upload files directly into a subscriber's account. The API is free for software vendors, but consumers must purchase a subscription in order to generate the access identifiers needed by the API.

The API makes this service a natural add-on to many desktop products such as tax preparation software, home inventory software, legal document software, and genealogy software. The API also makes it easy to create Microsoft Office add-ins.

The API opens Estate++ up to integration with enterprise systems such as online banking, online brokerage, and credit card award programs. It's ideal for institutions pursuing green initiatives. Monthly and quarterly statements can be uploaded, eliminating the need to process paper.

This RESTful API is compatible with popular programming languages including C# and Java. Security is implemented through https and public/private access identifiers.

Software vendors can further monetize the API by selling subscriptions to Estate++ through their affiliate program, which is managed by Plimus.com.

James Bell

Arranging Your Final Affairs

Without proper preparation the courts will make decisions about your life and estate based on local and federal laws. You and your family are not directly involved in the decision making process. Your children could become wards of the state. Your family could be permanently divided without direction about the decision making process. Your final wishes may not be carried out.

Making Your Arrangements

Prepare your estate documents. Seek out a professional advisor who specializes in estate planning. Your advisor should be certified by an accredited organization. At minimum you will need a will. It is also advisable to have a financial and health care power of attorney in case you are incapacitated. Your estate planner will be able to determine the appropriate set of documents for your estate.

Make advanced arrangements for your death or incapacity. There are many advantages to arranging your funeral, cremation or cemetery services in advance. Not only do you make your wishes known but you also protect your family from having to make such decisions at a difficult time. Making your own decisions about the type of service, merchandise and price prevents emotional overspending by family members who can only guess what you might have wanted. Many individuals also choose to purchase homes in retirement communities that have direct access to assisted living and nursing homes.

Select a set of trustworthy individuals to carry out your last affairs. They should have frequent enough contact with you so that your absence would be noticed in a relatively short period of time. Candidates might include family members, friends, or co-workers.  After confirming that these persons are willing to carry out your final wishes you need to leave them with a written set of instructions designating what duties need to be fulfilled.

Create a list of persons whom you want notified in case of death or incapacity, along with their contact information. The list of can include family members, friends, attorneys, financial advisors, tax advisors, executors, guardians, health care agents, attorneys-in-fact, trustees, and representative payees.

Document what needs to be done to take care of your affairs. These affairs might include taking care of your pets and plants, picking up your mail and newspapers, and paying your bills as they come due. You should also write out a short description of what tasks you assigned and who you assigned them to. You should record details about credit cards, loans, subscriptions, At Home Care by health care professionals, lawn care, maid services, pet care, home security, pest control, private schools, home owner associations, places of worship, bequests, and final wishes.

Document your legacy. You may want to keep a record of your personal notes as an everlasting gift to future generations, including diaries, memoirs, goals, accomplishments, achievements, values, childhood memories, family history, genealogy and ancestry information, recipes, memorable letters, and Child growth charts.

Inventory your belongings. List your assets (personal, business, and investment), liabilities, and insurance coverage. Include model and serial numbers. You should record details about real estate, personal property, vehicles, insurance policies, bank accounts, financial assets, award programs, benefits, and pensions. This inventory should also include:

• The location of original financial and family documents including birth certifications, marriage licenses, wills, trusts, deeds, powers of attorney, tax returns, insurance policies, stock and bond certificates, and personal notes.
• Photographs of your home that include any landscaping and improvements.
• Photographs of cars, boats, and recreational vehicles.
• Appraisals of jewelry, artwork, collectibles, and other property that is difficult to value.
• Copies of receipts and cancelled checks for more valuable items.
• Copies of contracts with assisted living centers, nursing homes, funeral homes, and cemeteries.

Make your estate documents available to the appropriate persons or institutions. If your estate documents can not be found when needed then it is as if these documents never existed. Overlooking this most important task can cause your estate plan to fail. Your final wishes may not be carried out as planned.

Summarize your arrangements into a single document. Once you have completed these steps you should write out a short description of what tasks you assigned and who you assigned them to. This document will help you recall what needs to be done and who will do it.

Periodically review and revise your plans. In the event that one of the persons whom you delegated a task to is no longer able to, or you no longer want them to, carry out their task then you will need to revise your plans. Reminding persons who you assigned tasks to periodically would probably also be advisable.

Consider using technology to organize your final affairs. A virtual safe deposit box is an Internet based service that stores your information in a secure, remote location. Your information is always available, through natural disaster, theft, even death and incapacity. Your information can also be shared with trusted parties such as family members, advisors, and medical professionals so that it's available when it’s needed most.

James Bell

Where is your will?

Statistics suggest that 7 out of 10 people don't have a will, let alone an estate plan. Even worse, most people who did prepare an estate plan couldn't find their documents when they were needed.

According to Kimberly Palmer, senior editor for U.S. News & World Report; "...wills are often not found for days or even weeks after someone's death, well after the funeral has already been planned. Thomas Bryant, an estate lawyer in Orangeburg, S.C., says a frantic client called him several years ago after discovering his sister's will. The will specified she wanted to be cremated. But it was too late—she had already been buried."

It’s pretty scary, but it happens more often than you think. Simply drafting an estate plan with an attorney is not enough. You must make plans to have your estate documents available to the appropriate persons and institutions. If your estate documents cannot be found when needed then it's as if these documents never existed. Your estate plan will prove useless if the appropriate individuals cannot locate your documents.

James Bell

Sources
Alpha Consumer: Readers Share Estate Planning Tips
By Kimberly Palmer
http://www.usnews.com/blogs/alpha-consumer/2007/11/7/readers-share-estate-planning-tips.html