Where Should You Store Estate Planning Documents?

Where Should You Store Estate Planning Documents?

Why Proper Document Storage Matters for Your Estate Plan

1. Fireproof and Waterproof Safe at Home

Using a fireproof and waterproof safe at home is one of the best ways to protect crucial documents from unexpected events. Make sure it’s discreet yet accessible for your executor or a trusted individual. Additionally, write down the safe’s combination in a secure location known to your trusted contacts.

2. Safety Deposit Box

A safety deposit box is a secure option but may have limited access for loved ones after your passing. If you go this route, speak with your bank about adding a trusted individual as a joint account holder or authorized signer. This step ensures that your executor can access the documents as needed.

3. Store Documents With Your Estate Attorney

Many people store their estate planning documents with an estate planning attorney. This is convenient since your attorney will have access to the originals and can provide them to your executor. Be sure that family members know how to contact your attorney for any questions or updates.

4. Secure Cloud Storage for Digital Copies

Backing up digital copies of your estate documents in secure, encrypted cloud storage (e.g., Google Drive, Dropbox) offers accessibility for emergencies. Make sure you use strong passwords and possibly two-factor authentication. Share access details only with trusted individuals, such as your executor.

5. Trusted Person or Executor

Providing copies to a trusted friend or family member (preferably your named executor) can be a convenient option. Let them know the location of the originals for safe access when needed.

6. Personal File at Home (for Copies Only)

Consider keeping only copies of your estate planning documents in a personal file at home for reference. However, it’s best not to rely on these as your primary storage since they’re more vulnerable to loss or damage.

Final Thoughts on Storing Your Estate Planning Documents

Choosing the right storage for your estate planning documents can simplify the process for your loved ones. Be proactive about sharing locations and access requirements with your executor and trusted family members.

For more insights on estate planning or to connect with an expert, contact Dorsey’s Realty today. We’re here to help you make informed decisions for a smoother future.

Dorsey's Realty Disclaimer: The information provided by Dorsey's Realty is for general informational purposes only and is not intended as legal or financial advice. Dorsey's Realty recommends consulting with a qualified attorney, financial advisor, or estate planning professional before making any decisions regarding the storage or management of estate planning documents. Dorsey's Realty makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of this information. Use or reliance on this information is at your own risk.