Where The Heck Do I Put My Will? An Estate Planning Lawyer's Guide
Alright, you’ve done it! You’ve crossed the finish line of estate planning. Your will, trust, and power of attorney are ready to do their job. But hold on! The journey's not quite over. There's one crucial step left: Where the heck do you put these vital documents?
This isn’t just any decision – it’s about protecting your legacy and ensuring that your wishes are honored. Let’s break it down. There are a few options, and each has its own pros and cons.
1. Home Sweet Home
Pros:
You’ve got easy access whenever you need it.
You can keep an eye on things and make updates quickly.
A fireproof safe? Extra security.
Cons:
Your home isn’t Fort Knox. What happens if disaster strikes? Fire, flood, or theft could jeopardize your documents.
Plus, family members might come across them too soon, creating unnecessary confusion or stress.
2. Safe Deposit Box
Pros:
Serious security. Fire and flood protection. Plus, it’s out of sight – no risk of the wrong person stumbling upon it.
Access is secure, with multiple verification layers.
Cons:
Limited access: You can’t get to it whenever you want – and once you're gone, your loved ones may face bank-hour restrictions.
Bureaucratic red tape. Your executor will need to jump through hoops.
And don’t forget the annual fees.
3. Online Storage
Pros:
Instant access, no matter where you are.
You can easily share with your executor and other trusted people.
No risk of physical damage.
Cons:
Cybersecurity is a real concern. But don't worry – many platforms offer strong encryption.
Your loved ones need the right login credentials and some tech-savvy. Make sure to plan ahead.
And some courts still require original documents – so double-check your state’s requirements.
4. Lawyer’s Office
Pros:
Your lawyer already knows your estate plan and can easily help your family when the time comes.
Secure, confidential storage.
Cons:
Not all lawyers offer document storage. And if they do, it might cost you.
Requires a solid relationship and open communication about your lawyer’s document retention policies.
5. Family and Friends (Proceed with Caution)
Pros:
Emotional support: Your loved ones may find comfort in having these documents close by.
Cons:
Risk alert: Loss, damage, or unauthorized access is a real threat.
Family drama can get complicated. You’ll want to choose someone you trust completely.
So, What’s the Right Move?
There’s no one-size-fits-all solution. The key is to find a balance between security, convenience, and accessibility for your loved ones. Wherever you choose, make sure your family knows exactly where your documents are and who should access them after you’re gone.
Bonus Tip: Always make copies! Keep one with your lawyer, one in a separate spot at home, and consider a digital backup – with secure sharing protocols in place.
Ready to Get Started?
Now, don’t procrastinate! This isn’t just about checking off a box; it’s about setting yourself and your loved ones up for peace of mind. I make it easy to get started with a Peace of Mind Planning Session. In this 1-hour meeting, we’ll talk about your goals, options, and our flat fees. Plus, if we’re a good fit, we’ll discuss the next steps to secure your legacy.
Book your Peace of Mind Planning Session HERE, and if you mention this post, we’ll waive the $450 fee!