Enhancing Funeral Home Services with Personal Legacy Management Software

15 August 2024
Legacy Management
1 min read

In today’s evolving digital landscape, funeral homes must adapt to meet the diverse needs of their clients. Personal Legacy Management and Estate Administration software offer a compelling solution, providing funeral homes with a unique opportunity to enhance their services and support families during difficult times. This software not only streamlines the management of a deceased’s digital and physical assets but also offers a cost-effective way to handle complex estate administration tasks.

According to a recent study by The Funeral Service Foundation  (https://www.funeralservicefoundation.org), the average cost of probate in the United States ranges from 3% to 7% of the estate’s value, with legal fees alone accounting for $5,000 to $10,000. By integrating Personal Legacy Management software, funeral homes can help their clients mitigate these costs. The software automates many aspects of estate administration, from asset tracking to document preparation, reducing the need for extensive legal involvement and saving families thousands of dollars.

Moreover, this software enhances the client experience by offering a comprehensive solution that goes beyond traditional funeral services. Funeral homes can provide clients with tools to organize and manage their digital legacies, including social media accounts, online subscriptions, and other digital assets that may otherwise be overlooked. For Baby Boomers, who may have accumulated significant digital assets over the years, this is particularly valuable. On the other hand, Millennials, who are more digitally inclined, appreciate the peace of mind that comes from knowing their online presence will be managed according to their wishes.

By offering Personal Legacy Management software, funeral homes can differentiate themselves in a competitive market. This added value not only strengthens client relationships but also opens up new revenue streams through software subscriptions or one-time fees. In a survey conducted by The National Funeral Directors Association (NFDA) (https://www.nfda.org), 68% of respondents expressed interest in digital legacy services, indicating a growing demand for these solutions.

In conclusion, Personal Legacy Management and Estate Administration software present a significant opportunity for funeral homes to enhance their services and better serve their clients. By helping families navigate the complexities of estate management, funeral homes can provide a more comprehensive, compassionate service while also improving their bottom line.

Richard Sanders, CPA, CA, CBV is a seasoned professional and Partner at a leading global Accounting firm, bringing over 35 years of invaluable experience to the advisory board. With a background in Accounting & Finance, he has demonstrated a keen sense of the challenges to business management and growth throughout his career.

Having held key partnerships with several Accounting firms, Richard has a proven track record of success in advising businesses in areas ranging from Audit to Internal Controls, Tax and Valuations. His strategic thinking has been crucial in guiding organizations through periods of startup and growth.

As an advisory board member, Richard provides strategic counsel and invaluable insights on Audit, Finance and Accounting. His expertise and vision play a vital role in shaping the organization’s strategy and driving sustainable growth over the long term.

Richard holds a Bachelor of Accounting & Business Management from the University of Toronto. He continues to stay at the forefront of the Accounting industry’s developments through ongoing education and professional development initiatives.

Richard’s passion for success and his commitment to guiding businesses make him an invaluable asset to the advisory board.

Bob is a distinguished leader in Software M&A, bringing over 40 years of invaluable experience to the advisory board. With a background in the Canadian & US Information Technology sectors, he has demonstrated a keen understanding of the challenges driving business innovation and fostering growth throughout his career.

Having held prominent roles within the Fortune 500, Bob has a proven track record of success in supercharging business growth. His strategic acumen and forward-thinking approach have been instrumental in guiding organizations through periods of change and transformation.

As an advisory board member, Bob provides strategic counsel and invaluable insights on business development, partnerships and strategic alliances. His expertise and vision play a vital role in shaping the organization’s long-term strategy and driving sustainable growth.

Bob holds a BSc in Physics and Mathematics from the University of Ottawa. He continues to stay at the forefront of the Information Technology industry’s developments through ongoing education and professional development initiatives.

Bob’s passion for excellence and his unwavering commitment to the Software Industry make him an invaluable asset to the advisory board, driving the organization’s mission and vision forward with clarity and purpose.

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