If you spend the time creating estate planning documents to protect your interests, you need to take the extra step of safely securing these materials. Too often, it can be difficult for loved ones to find your items in a timely manner, which adds unneeded stress and confusion after you’ve passed away.
Most people who recently created their estate plan opt to put it in a safe deposit box. However, it’s well worth a conversation with your estate planning attorney to discuss if this is the best place for you. A safe deposit box seems like a good location because it is secure and safe. However, accessibility is a primary concern with a safe deposit box.
Any other people may not have access to this box if you are the only one named on it. You need to ensure that there is a way for your family to get access such as knowing which bank it’s located at and where the key is located. A fireproof box or a personal safe is another great location for your estate planning documents so long as your family can gain access to them. Another good place to store your estate planning materials is wherever you keep important papers.
If you have a desk or a file cabinet where you keep important details, chances are this will work out quite well. Although it may not have as much benefit on the security side, it is at least a starting point until you can find something more secure such as a safe or a fireproof box. Make sure to review your estate planning materials on at least an annual basis and after every major change in your life. Working with a Virginia Beach estate planner can help you cover every aspect of your full plan.