First and foremost, I hope you, your families and friends are doing well during these difficult times.
COVID-19 has affected us all. We’re doing thing differently. Over the past few weeks, we’ve seen how people have been forced to change their lifestyles. They’re doing almost everything in new ways and relying more on technology to survive. Many of my friends, family and even I have increased our online presence by enrolling in new accounts and app downloads, like Zoom, Facebook, Instagram, TikTok, eTrade, Instacart, and Amazon, etc. Some are now shopping online, while others have discovered video services to connect with their kids or parents. Others are running their businesses via new platforms. Even I opened up several new accounts for online games with friends, music and personal financial management.
These digital accounts are creating new eCommerce habits and routines for everyone, including government agencies and school districts. The increase in digital use is evidenced by the dramatic growth in Cloud Video subscriptions for Zoom, Cisco’s Webex, Google Hangouts and others. Facebook’s videocall service has seen an increase of over 1,000%.
And it’s not just limited to communications. Amazon has announced the hiring of 100,000 workers to handle the increase in online ordering.
Your clients are being forced to do more online, with technology keeping us together and providing access to information, live video chats, shopping and delivery and managing finances.
The good news is that all of these technologies are available to us.
The bad news, as Dr. Rana Awdish, Medical Director of the Pulmonary Hypertension Program of Henry Ford Hospital, told CNN, is that those in the medical field need to make plans. She instructed viewers to think about health directives. Make plans for their pets. In other words, everyone is exposed and everyone needs to consider their end of life care and estates.
What does this mean for your client’s estates? All of these accounts hold important information and data that are necessary for administration or for loved ones. Their usage is growing exponentially, making it more important than ever before for these accounts to be addressed in the estate plan.
If you want to learn more about how digital assets are being protected, I’m available – just call me at 800-372-8121.
Please stay safe and take care of each other!