People must store their last wills in secure yet accessible locations.
Creating a last will and testament is a key component of comprehensive estate planning.
Keeping the document secure is necessary for it to be helpful when it is needed.
Whether the document is misplaced, accidentally destroyed, or inaccessible by your executor, the result is the same.
It is as if you never created the last will.
Your estate would be subject to intestacy laws rather than your wishes for distribution.
To store your estate planning documents properly, it is important to balance accessibility and security.
Do not store your last will amidst the clutter on your desk.
Some estate planning attorneys can keep the documents at their offices.
Having prepared north of 3,000 estate plans over 30-plus years, we do not offer this service.
When law firms offer this service, they generally will store the estate plan in a fireproof safe.
Additionally, the attorney will be able to confirm the validity of your last will if someone contests it during probate proceedings.
If this option is available and you choose for your attorney to keep your documents, you will need to tell your executor or family members who to contact.
If your attorney does not have the capacity to offer storage services, you can provide protection similar to your last will in a home safe.
When choosing a home safe, it should be both waterproof and fireproof.
After installing it in your home, you should tell your executor its location and provide the key or code to this trusted individual,
If your loved ones are unable to access it when you die, probate could be delayed.
Some states allow residents to file their last wills with the local probate court.
Doing so has the benefit of the document being legally recognized and secure.
If you need to update your last will, you must provide the court with the revised document.
Failing to update the last will with the court may lead to the wrong last will being used in probate.
The court may admit your "second" to the last will.
Yikes!
The U.S. Will Registry provides Americans the opportunity to register their last wills.
What are the benefits of the registry?
The registry offers free online storage while also allowing you to record the location of your physical documents.
This can prevent your loved ones from forgetting where to find the documents or accidentally discarding them.
Safe deposit boxes can provide security for many valuable or important personal items.
Unfortunately, this location can lead to delays in probate proceedings if it holds your will.
Because banks typically seal a safety deposit box after the death of the owner, the executor will require a court order to access the box.
To prevent issues retrieving important items or documents, you must list your executor as a co-owner with access rights.
Leaving your documents in a filing cabinet, desk drawer, or other household papers increases the risk of accidental destruction, loss, or intentional tampering.
If something happens to the physical copy because it was stored in an unsecured location, your estate could be considered intestate even if you have a digital copy.
Why?
Most states require the original, signed document to be deemed valid by the probate court.
When you find a secure location for your last will, you should tell trusted individuals where it can be found.
It can be helpful to record instructions in a secondary estate planning file with other necessary documents so your last will can be quickly found and used.
Finding a secure and accessible location to store your last will may prevent it from being lost or inaccessible.
If your estate planning attorney has the ability to keep your file in a locked safe, this can be an excellent option for keeping your estate planning documents secure and can help simplify authentication of validity.
A home waterproof and fireproof safe can protect your documents while allowing them to also be accessible to your executor.
Because a safe deposit box cannot be accessed after the owner dies, probate can be delayed, and a court order must be required for the executor to retrieve your last will.
This can be especially problematic because the document identifying your executor to the court is located in the safe deposit box at the bank.
If your loved ones do not know where you store your estate planning documents, they cannot use them.
Communicating the location of your last will and testament to your executor and key family members is a necessary component of comprehensive estate planning.
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:The U.S. Will Registry (Oct. 24, 2024) “Where to Store Your Will to Ensure its Security”
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