Creating your will is an important step in the estate planning process—but it’s hardly the final step. Once the will is created, it also needs to be maintained—kept somewhere that’s both safe yet also accessible, as routine revisions will likely be needed to keep your will current.
The question is, where is the best place to store your will? There are a number of options, and there’s not necessarily one right answer. For example, some choose to store their will with their executor—since your executor is, almost by definition, someone in whom you place trust. You can put it in a sealed envelope to keep its contents confidential, and ask your executor to keep it someone secure, such as in a safe.
You can also choose to keep your will in your own home, of course. If you do so, make sure your executor knows exactly where you’re storing it, just in case he or she needs to access it upon your death. Also, be sure to keep it in a safe or in a box that is protected against fire and flood.
Some choose to keep their will in a safe deposit box, but we do not recommend this; if you die, your bank may require a court order for the safe to be opened, which will only complicate the settlement of your estate.
You may also wish to store the original will with your lawyer. Assuming you plan to maintain a long-term relationship with your attorney, this is typically a good approach. Note that you can also keep copies on hand for yourself, just in case you ever wish to consult it.
If you would like to speak with an attorney about the best practices for maintaining a will, or you need to create your will, reach out to Singh Law Firm today.