Estate representatives need to be able to access estate planning documents.

While many people do not prioritize estate planning, protecting your wishes regarding medical decisions, financial affairs, and assets is necessary.

Although creating a comprehensive plan is a key step in accomplishing this goal, the documents will be ineffective if they cannot be located and accessed.

Those designated to act on your behalf as executors, trustees, and powers of attorney will need to produce these documents to the courts or financial institutions to have their authority confirmed.

Inaccessible or lost documents can cause chaos, legal delays, and additional stress for your loved ones.

To prevent this from happening, you should choose an appropriate storage location and inform the necessary individuals of where to find and how to access your documents.

Give your executor access to your home safe or other location where estate planning documents are stored.

Why Document Accessibility Matters

Many people believe the mere existence of estate planning documents is sufficient to facilitate a smooth estate administration.

Such an assumption is untrue.

If a family or estate representative fails to provide the documents to the probate court, then the judge may default to the intestacy laws of the state.

As a result, your assets may be distributed in direct contrast to the wishes you outlined in your documents.

Yikes!

Inability to access the documents can also cause issues in situations of incapacity.

Your designated financial power of attorney or healthcare agent may be unable to make critical decisions on your behalf in an emergency.

Common issues can occur when you are not organized or clear on the status of your estate planning documents.

These issues can include loved ones being unaware of the existence of your estate planning documents, inability to access digital copies due to missing credentials, original signed documents being secured where others cannot retrieve them, and an outdated trust or last will being used because the updated version did not replace it.

Clear communication and proactive planning can help in avoiding such complications.

Where to Store Estate Planning Documents

When storing estate planning documents, one must balance two seemingly opposite goals.

The documents must be both secure and accessible.

What are storage options to meet these criteria?

Using a waterproof and fireproof home safe provides security and easy access for your trusted estate representatives.

Although a bank safe deposit box is secure, it is not very accessible.

To make a bank safe deposit box accessible, give your trusted representative access before you die or provide them with separate legal documentation to show the bank.

It is best to add your trusted representative to the safe deposit box right now, so access will not be denied later.

This is a better approach, in my experience, than relying on the authority given to them under your general durable power of attorney.

While some estate planning attorneys may store copies at their offices to make them available when needed, that is not our practice.

We do not retain any original legal documents or paper copies, and have gone digital.

Securing digital copies in an online vault or encrypted cloud storage can help create a backup for your documents, but you would have to share the login credentials with your representatives.

Whatever option you choose, you must tell the agent, trustee, or executor where and how to retrieve the documents.

Documents to Keep Readily Available

Some documents will require speedier access than others.

While financial statements and property deeds are unnecessary in an emergency, key estate planning documents must be retrieved easily.

What are these?

Your last will and testament is required to designate an executor and direct asset distribution and estate settlement.

Revocable or irrevocable trust documents are necessary to manage and distribute trust assets.

Power of attorney documents grant authority to someone to make your financial decisions if you become incapacitated.

A durable power of attorney for health care decisions (as part of your advance health care directive) authorizes one or more trusted individuals to make medical care decisions.

With a health care treatment directive (as part of your advance health care directive), you can outline your preferences for medical treatment.

Having insurance policy documents with their beneficiary designations available for quick access facilitates seamless life insurance claims.

By outlining your burial and funeral instructions, your loved ones will be able to confidently follow your wishes without getting embroiled in arguments.

Providing copies or access to these documents ensures that designated representatives can act swiftly when needed.

Inform Your Designated Representative How to Access Documents

When selecting individuals to manage your medical decisions, financials, and estate, you should prioritize those who are trustworthy and responsible.

Once they have agreed and the appointment has been made in your estate planning documents, you should discuss the role with them.

What should you share?

You should clearly communicate the responsibilities and expectations of the position.

The location of your stored estate planning documents and how to access them should be outlined.

You should share this information if you want others involved or consulted in medical or financial decisions.

Because estate planning documents need to align with current goals, they should be reviewed and updated regularly.

You should discuss this process with your trusted representatives as well.

If you have digital records that your representatives will need to access, you should provide security codes and login credentials.

Many people choose to make copies of their current estate planning documents for their executors, so they are aware of the most current plan.

What are Key Takeaways regarding Estate Plan Access?

Failing to give your designated representatives access to your estate planning documents means you have missed a key step to protect yourself and your loved ones.

Finding a secure yet accessible location is necessary to keep your documents safe and allow them to be retrieved when needed.

Trusts, last wills, and powers of attorney (for financial and health care decisions) must be available for immediate access in times of crisis.

You should clearly communicate the location of your documents and how to access them to your agents, executors, and trustees.

Although having a backup of your plans stored online can be helpful, you will still need to provide access to your representatives.

Digital storage does not negate your need to protect and provide access to the original signed estate planning documents.

This post is for informational purposes only and does not provide legal advice. You should contact an attorney for advice concerning any particular issue or problem. Nothing herein creates an attorney-client relationship between Harvest Law KC and the reader.

Reference: Charles Schwab (Jan. 21, 2025) “How to Store Estate Planning Documents”