Where to Keep Your Estate Planning Documents

Where to Keep Your Estate Planning Documents

Copyright (c) 2010 Darlynn MorganI am often asked by clients and friends of our estate planning firm "where is the best place to keep my estate planning documents?"It may sound like a silly question, but where you keep your estate planning documents is a critically important decision in ensuring your original copies are not lost, damaged or forgotten about through the years.My top recommendation (and the recommendation of most experts) on where to keep your estate planning documents is a safe deposit box. With a safe deposit box, you can rest easy knowing your documents are in a centralized location and protected from theft, fire, damage or accidental loss.However, if you do choose to store your documents in a safe deposit box, be sure to let your family know that you a) have a safe deposit box, b) where it is and c) how to access it if something happens to you. It may also be a good idea to put a joint holder on the box to ensure your family can open it in your absence.You should further let your attorney know where your documents are housed, just in case your trusted family member also dies or becomes incapacitated and can't take care of your affairs. And for the same reason, it's always smart to let multiple people know where your documentation is so someone always has access to it in a hurry should something tragic occur.You can also store your documents in a home safe that is waterproof and fireproof. Yet I'm leery of this approach simply because in most cases of home robbery, thieves will take the entire safe out of the home and root through it later for jewelry and money. So if your safe is not secured or bolted to the floor, this may not be the best option for your documents either.Finally, you can store your documents at the office of your estate planning attorney, but again, be sure to let your family members know they are there if something happens to you!And as always, remember to physically pull your documents out of the safe deposit box (or wherever you hide them!) every few years to make sure they are up to date. That means ensuring your assets are properly owned in the name of your trust and you still approve of the beneficiaries you chose when first drafting your will.Remember, an outdated will is just as bad, if not worse than one ravaged by fire or flood!

POST COMMENT

Chairs Instructions - Avoid Frustration ! Wifi Outdoor Camera - Defender PHOENIX1 No Requirement Wires Cholesterol Isn't All Bad Wifi Outdoor Camera - Defender PHOENIX1 No Requirement for Wire connections Wi-fi compatability Outdoor Camera - Defender PHOENIX1 No Need for Cable connections Shaker Chair Kits - Very Important ! White-colored Teak Outdoor Bench Nice and Save For you personally White Teak Outdoor Bench Nice and Save In your case Fast Way To Get A 6 Pack - Free At Home Ab Workout Plan Helpful tips on how to hire an excellent home builder Origin of Stucco Homes The Importance of Home Pricing Make Your Penis Bigger - One Easy Way To Get Extraordinary 4 Inch Gains (Try This At Home!)