Once you have a complete estate plan, don’t forget to make sure those documents are safely stored and available to access for when the time comes.  You need to make sure that the documents are stored safely and that the correct people know how to find them.  Here are three helpful steps to ensure your documents are both protected and available.  

Step 1: Gather Your Hard-Copy Documents 

Start by collecting physical copies of all of the legal documents related to your estate plan.  These include your Will, Trust and Schedules of Assets, Power of Attorney documents, and important health care documents like your Advance Health Care Directive and HIPAA Information Release.  You will want to put together a list of your physical and financial assets, such as real estate documents and account statements for all of your financial acocunts.  It’s also a good idea to keep a complete list of your debts so that your family can help address those items as well.  Don’t forget to include copies of your life insurance policies, noting the cash value and death benefits for easy reference. 

Step 2: Choose a Safe Storage Location

Traditionally, it is recommended that you store your original documents in a water-resistant pouch inside a fireproof safe or a bank safe deposit box.  Remember that your Power of Attorney may allow your bank to give your agent access to your safe deposit box, but permission to access your safe deposit box must be explicitly stated in the document.  Additionally, your agent will need the original Power of Attorney to access the box, so don’t store your power of attorney in the safe deposit box.  A safe deposit box is ideal for storing your will and a thumb drive with digital copies of important documents, while a fireproof safe is a better choice for documents like Health Care Directives or Power of Attorney that your family may need to access quickly.

Step 3: Create a Backup Plan                           

It’s important to have a backup plan in case your primary storage method is inaccessible. We suggest sharing copies of your documents with a trusted friend or in an alternate location.  A trusted friend or family member, or even your attorney can help your family or successor gain access when necessary.  This backup guarantees that your estate plan is easily accessible, even in unexpected situations. 

Law Offices of Geoff Wiggs

Here at the Law Offices of Geoff Wiggs, our standard practice is to scan your completed estate planning documents after you have signed them and they are fully notarized.  We keep electronic copies of your estate plan for as long as possible on our secure storage system.  So – if you use our firm for your estate planning needs – you may already have a backup ready to go.

Call us today if you would like to experience our great customer service and thoughtful, caring, estate planning services.