frequently asked questions

Where should you store estate planning documents?

Where should you store estate planning documents?

Some banks and financial advisors recommend storing your estate planning documents in a safe deposit box. However, doing so can prevent family/executor/trustee from being able to access them easily or in a timely manner. Oftentimes a court order is required to access a safe deposit box if someone is incapacitated or deceased, which adds time and expense to the process.

We recommend storing your estate planning documents in a location that is accessible but under your control. For example, you could store them in a file cabinet, a desk drawer, a lockbox or safe. However, you do want to make sure that your family/executor/trustee know where to find them and have any keys or combinations necessary to access them. By maintaining control over them, you can make changes to them in the future and can dispose of any old versions (If you have updated a Will, you don’t want someone probating a prior version).

We also recommend keeping life insurance policies, pre-paid funeral or cremation contracts, and a list of assets and liabilities with your estate planning documents. Oftentimes the hardest job family/executor/trustee has is locating these documents and figuring out what they need to do and what to deal with. We also recommend that you have digital copies of all your documents stored in an off-site location separate from the originals in case the originals are destroyed by flood or fire.
If you need help with estate planning or probate, contact the Law Office of Roy Neal Linnartz, PLLC at 830-625-9300.