How Technology is Revolutionising Trust and Estate Planning

Not all industries have kept up with changing technologies, many believing that the only way they could work was face-to-face and in-person with their clients. However, there was little choice during the pandemic, and many realized it was a good way forward. A Mississippi estate planning lawyer firmly believes that the financial sector needs to take advantage of digital tools to meet its customers’ expectations. He warns that if they do not keep up, they will simply lose out, especially when it comes to estate planning and trust provision.

Virtual Rooms Replace Meeting Rooms

There has been a long history of going to visit your financial advisor by appointment only. However, with tools like Microsoft Teams and Zoom, it has become increasingly obvious that video conferencing is just as appropriate and enables any business to be carried out as if two people were in the same room.

Before the lockdown, many people had never experienced such tools, but to keep in touch with their families and friends, people who had never used computers before were quickly upskilling, and now it has become commonplace. Financial advisors are also able to take on customers from further afield, making it a much wider playing field giving clients the choice of who to work with.

From an AI point of view, there is still a lot of work to be done before it becomes an acceptable way of interacting with clients. So now it makes sense to interact with your clients using video conferencing technology, but if you work in estate planning and trust, AI could be a useful back-office tool for finding information and answering questions.

Signing Documents

Another step forward is the acceptance that legal documents can be notarized online. In fact, many states have fought in legislation to support the use of digital technology for notarising and signing various things.

This reduces the need for the previous arrangements where two physical witnesses would need to be present in person every time a document was signed. A good piece of software that is on offer for this type of event is called Notarize, and this makes it nice and easy for clients to sign and date any documents they need.

Legislation makes it possible for things like estate planning, wills, and power-of-attorney to be signed and sealed over the Internet.

Improving the Customer Experience

Industries that did not embrace the digital age when the pandemic struck were predicted to lose customers and potentially close their businesses. Thankfully, many realized how easy it was to make the transition to digital tools, and the customer experience has begun to improve. It doesn’t really matter what industry you are in; meeting the customers’ expectations is paramount.

More customers are starting to demand online services because they offer convenience and do not require changing plans, driving to appointments, or rearranging their schedules. There are lots of other industries that are already incredibly comfortable in the digital age, and it’s time that the legal world caught up.

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