What is Planned Departure?
Planned Departure is an online platform which lets you manage your digital life and create succession plans online. It allows you to store important information from your physical and digital world at one place.
It also allows you to specify the right beneficiaries for each item of information and releases the right information to the right people at the right time.
Our mission is to ensure that important information from our physical and digital life is not lost, locked or abused.
Why should I plan my departure?
Our digital footprint is growing day-by-day. Continuous digitisation has affected every part of our life. Our communication has moved to platforms such as GMail and Facebook. Our music collection has moved to iTunes and book collection to Kindle. Even our wallet has moved to e-wallets such as PayPal and currency itself is becoming digital with likes of BitCoin.
This increased digitisation offers convenience, however, it makes succession planning of these digital assets difficult.
Most of our digital assets have financial and emotional value associated with them, but rarely have clarity on what will happen to these assets after we pass away. As a result, there are millions of dormant accounts and billions of pounds locked with the banks, organisations and government as unclaimed assets.
It is frightening to know that identity of 2.5 million US citizen are stolen every year after they pass away. Unmonitored, dormant accounts are the easy target for identity thieves and hacker.
Planned Departure allows you to reduce that risk. Remember, failure to plan is planning to fail.
Why did you start Planned Departure?
We started Planned Departure because of the personal experience we had. A few year's ago, Komal's (Founder of Planned Departure) father passed away in India. It was traumatic. We flew to India and had to deal with all the formalities such as sorting his bank accounts, insurance, property and so on.
After coming back, we started thinking ourselves. What would happen to our assets if we run over by a bus?
We spoke with our banks, insurance providers and many other service providers. It was shocking to know that none of them would pro-actively find the rightful owners of our assets. We continued our research and found that in the UK alone, there are more than 29 billion pounds worth of unclaimed assets. We realised that, with continued digitisation of our lives, this amount is set to grow.
We started Planned Departure to ensure that our hard earned assets do not end-up as unclaimed assets. We started Planned Departure to ensure that our identities are not stolen by identity thieves and hackers after we are long gone. We started Planned Departure to ensure that it is easier for people to manage their affairs according to their wishes after they are gone.
Is it similar to my will?
It is similar to the will in the sense that you are defining who will get key information about your life after you pass away.
Our solution is similar to the Will, but it is not a legal Will. Our product complements the traditional Will because it is difficult to keep traditional wills up-to-date. Also, since a will is a public document, it is not advisable to store information about digital assets in it.
How different it is from writing down everything in a diary?
Keeping everything in a diary wouldn't be safe. There is always a risk of accidental loss, fire or theft. Also, it would be difficult to distribute different information to different people with your diary.
Planned Departure has excellent security measures in place. Everything is backed-up on our secure servers regularly and there is no risk of any accidental damage. It also gives you granular control over your asset distribution. It allows you to distribute same asset to multiple beneficiaries along with the instructions on what they should be doing with these assets.
It also gives you 24*7 access from everywhere, from your computer, tablet or mobile phones.
Is Planned Departure available in my country?
Planned Departure is an online service and is available to the whole world.
How will this service make people I love comfortable?
Planned Departure will improve the welfare of those you love, and also yours, by ensuring that when they need information about your life and estate they have access to it.
In the absence of the right information, your hard earned assets such as insurance, bank accounts, shares etc. might stay inaccessible to them. Similarly, vital information from your digital world can also be lost, locked or abused.
With Planned Departure, you can ensure that the right information is delivered to the right people at the right time.