Creating an estate plan gives an individual peace of mind and control over their legacy. Adults of sound mind have the right to leave instructions for the distribution of their property and the care of their dependent family members.
They may draft wills or establish a trust. Particularly when the main testamentary instrument for an estate plan is a will, ensuring that others can locate the document is of the utmost importance. If surviving family members or presumptive heirs cannot find estate planning documents, they may try to proceed with probate matters as though it were an intestate estate. State law, rather than the testator’s instructions, may determine what happens with their assets in such scenarios.
The proper storage of an estate plan is important for the fulfillment of a testator’s intended legacy. Where should people store their wills and other estate planning documents?
In a previously disclosed location
Storing a will requires a location that is secure but also difficult for others to access. Many people have fire safety boxes or safes in their homes. Others have deposit boxes at financial institutions. People may decide to store a copy of their estate planning documents at one of those locations.
Typically, they need to disclose that decision to family members. That way, people know exactly where to look but do not necessarily have access to the documents themselves before the testator dies.
With an attorney
The most effective estate plans typically come from cooperation with a legal professional. An estate planning lawyer can help people establish valid documents that make it easy for them to achieve their legacy goals.
Their lawyer or attorney can also potentially provide secure storage services for estate planning documents. That approach can be particularly beneficial, as there is less possibility of family members overlooking documents or intentionally destroying them if they dislike the terms included in the will.
Partnering with an attorney who offers storage services in addition to basic estate planning services can help people ensure that their loved ones can locate their wills in a timely fashion after their passing. The storage of an estate plan can be as important as the creation of documents, as wills that people can’t find may not serve their intended purpose.