There is no question that our society is becoming increasingly visual. When we click on a link to a story, we are just as likely to find a video as a written article, and emojis have become an efficient and surprisingly acceptable replacement for words, even in some business circles. The rise of Instagram indicates a preference to look at a pic and a short caption rather than a lengthy post. In our busy world, where we spend so much time staring at screens, visuals alleviate some of the mental fatigue and provide a quick way to download information.
The use of visuals has also become the latest trend in estate planning. According to a recent New York Times article, financial planners are now using diagrams and flowcharts to create a detailed picture of one’s assets, and their potential distribution, in a clear, concise way. Some planners use spreadsheets that can be easily adjusted for different variables, like if an asset grows or decreases in value, or when a relative who would have been your beneficiary predeceases you. Individuals and families no longer have to wade through stacks of paper every time they need information on their holdings, which encourages them to plan responsibly and save their heirs a lot of time and money down the road.
Visuals can also be used to manage your wealth via digital platforms. For example, EstateSpace allows you to upload photos of each asset, be it a property, vehicle or piece of art, then makes notes regarding its worth and maintenance. This creates an esthetically pleasing experience with maximum efficiency and security.
Moreover, EstateSpace can be used in conjunction with your estate planning. Let’s say, for example, that in your will you’ve left all your jewelry to your daughter, but then you acquire an antique ring that would be perfect for your favorite niece. You simply tap the picture of the ring, note your wishes about the bequest, then communicate that to your estate planner. It’s just another way to care for the wealth you’ve built and be sure you’re providing for the ones you love.
The EstateSpace Mobile App is available for download at the Apple App Store and the Google Play Store. To learn more about how you can protect and manage your physical assets, visit EstateSpace today.