One key aspect of successful estate administration is efficient digital record-keeping and organization. By adopting best practices in this area, administrators can save time, reduce stress and ensure that the process runs smoothly.
Digital record-keeping can help you keep things organized during the estate administration process.
Choose a central storage system
Set up a centralized digital repository where you can store all estate-related documents and information. Cloud-based storage provides you with an easily accessible destination that you can access from anywhere.
Organize documents by type
You can access and reference information more easily when things get sorted by type. Create category separations for legal documents, property records and personal information. Name files and folders with a consistent naming convention so that you can easily find records at a glance.
Backup files regularly
Reduce the risk of data loss with routine backups. Daily backups with an automated system will protect information integrity.
Establish secure permissions structures
Some of the information you handle as an administrator is sensitive. Protect that data with a comprehensive permissions structure so that you control who can see the files.
Conduct frequent file reviews
Take time to review and update the digital records frequently to ensure the accuracy of the information. Consider not only things you have settled but also any changes in laws and regulations during this process.
At least 46% of Americans have an estate plan in place, which includes an appointed estate administrator. Serving in an administration role means understanding the process and keeping comprehensive records. Organization and routine backups will protect the data while you handle the estate.