Your estate planning documents are crucial, as they contain sensitive information. Thus, you want to store them in a safe place.
Below are three places to consider:
1. Your home
Storing your estate planning documents at home allows you to access them easily. But where in the house can you keep them?
You can store them in a locked, fire and water-proof filing cabinet or safe. It may be more manageable to find a safe with reliable fire and water resistance qualities than a filing cabinet.
If you opt for a safe, choose one with a backup key, which you can use when you forget your digital combination or your safe’s electronic locking system fails, among other issues.
2. Your bank
You can also keep your estate planning documents in your bank in a safe deposit box. While this option can be safer, it can be inconvenient, as you will need to go to the bank every time you need to access your documents.
Ensure you talk to your bank to designate your executor or any other party you trust as your deputy so they can access the safe deposit box during probate. Further, consider drafting a document with vital information regarding the box, including its location, where you’ve kept its key and people who can access it.
3. Your attorney’s office
Your attorney may be willing to store your estate planning documents in their office. You can simply contact them when you want to access your documents. But you may only be allowed to do so during business hours.
Your executor should know your attorney has your documents and their contact information.
Where you store your estate planning document matters. Choose a location that’s suitable to your circumstances. You should also get legal guidance to avoid locations that can make things complicated for you and your loved ones.