Letting your family know that you have made an estate plan can be reassuring for them. It lets them know they won’t be left to make all the decisions if something happens to you. Sharing some pertinent details about what is in your plans can also be wise.
However, none of this will be of much use if they can’t find the estate planning documents when needed. Whether you become incapacitated or die, knowing in advance where to locate your estate planning documents can save them a lot of time and worry in a difficult moment. Here are some possible places to store these important documents.
1. In a safe spot in your home or office
A fireproof, waterproof safe reduces the chances that the documents will be taken or destroyed by fire or flood. Be sure to let someone know how to open the safe, though. Simpler but less secure alternatives could include a particular drawer, cupboard or folder on a shelf.
2. In a safe deposit box
Some banks have safety deposit boxes you can rent to store important documents. Once again, you’d need to ensure that someone knows where it is, has the key and has the necessary authority to get access. They’ll likely need to have a key and a copy of the death certificate.
3. With your attorney
Some attorneys offer to store their clients’ documents for them. Remember, though, that disasters such as floods or fires could affect their premises just like they could affect other locations you might consider. Regardless, having legal guidance can help you create the plan and store it.
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