Where Should I Keep My Estate Planning Documents?
We’ve written at length about a variety of estate planning documents over the past few weeks and months. From Wills and Trusts to knowing what a Power of Attorney is, we’ve covered a lot of ground. But once you have your estate planning documents in order, where should you keep them? Tucked away somewhere safe is a decent answer. But where exactly?
A safe deposit box at the bank? In a home safe?
Should they be hidden in a dark corner of your bedroom closet or the bottom drawer of your desk?
When it comes to your estate planning documents, choose a place where they will always be safe. More importantly, choose a place where they’ll be accessible for loved ones who will one day need them. For example, keeping them in a safe deposit box may seem like a great idea on paper. But if that box is only in your name, and you die, a loved one or friend will have a devil of a time gaining access in a pinch since the bank will likely require a court order.
Here are a few options:
• Keep the originals in a safe spot at your home where your executor will know where to look.
• Provide copies to your executor and other trusted people.
• Keep them in a fireproof and waterproof at-home safe (make sure your executor has a key).
• Use a safe deposit box (as long as someone else has access).
Where should you keep your estate planning documents? In a safe place, of course. Where that safe place is should be based on what you’re comfortable with. Just make sure someone you trust knows where and also has access.
Call Caitlyn Ashley Law today!!
Having a plan for the future is the most important gift you can give yourself and your family. Granted, none of us will ever know for sure what is around every corner in life. And just thinking about the what-ifs — what if I were to die or become incapacitated tomorrow; what if my child with special needs has no one to care for her; what if all my “stuff” isn’t passed onto the right people — can be overwhelming. But having a plan that accounts for your family’s unique circumstances, puts your affairs in order, has concrete solutions to your concerns, lays out your wishes and goals, and protects your family’s future provides peace of mind for the road ahead.
Caitlyn Ashley Law in Denton, Texas, will counsel you on which documents best suit your needs and ensure they are flexible enough to meet your changing needs for years to come.