Safe And Practical Places To Keep Your Estate Planning Documents

CONGRATULATIONS! You have finally put in place your estate planning documents. This is the most valuable and greatest gift you can ever leave for your family when you die.

Many people wonder where to store their original estate planning documents. The answer is really simple- in a safe and accessible place. But what does that mean exactly?

Storing with your Attorney-Many estate attorneys and personal attorneys will be able to store your Will in a secure location in his or her office. If you choose to store it with your attorney, be sure to tell your family that you’ve done so.

Skip the safe deposit box-Never store your will in a safe deposit box unless someone else has access. This is so due to the fact that the authority to get into the box is in the box. If you die or you are incapacitated and no one has access to the deposit box they will need to get a court order to give them authority for access.

Invest in a fireproof safe-You can keep your original documents in a file cabinet in your home or your office. Your best bet in keeping the documents safe would be in a fireproof safe.

Make sure you have copies- You should also have in place a set of hard copies in another area that can be easily accessible. A great place can be in your safe deposit box or with a trusted relative or your trusted attorney.

Don’t forget your e-records-After your lawyer drafts your estate planning documents they should give you an electronic version ,if not you need to ask for them .Make sure they keep a copy and you also keep one electronically in case the original hard copies get lost or destroyed.

All is not lost if the originals get lost-In case the original documents disappear ,your family may still be able to use photocopies. The photocopies can be used after proof by the executor that they have made a diligent search to find the original copies but could not.

It’s not done and done-Always remember to review your documents every few years or every other year if you can. This is to make sure that everything is in order for example if you get more properties, or need to add more beneficiaries or remove them.

Informing people where your will is stored-We can’t stress this enough: Wherever you store your estate planning documents , make sure that important people you trust know where it’s located so they can easily access it when the time comes. If you spent time, effort, and money to create those documents and no one knows it exists or where it is, it’s as if you never did it at all.