Deciding where to store your important estate planning legal documents, such as your Last Will and Testament, living trust, Power of Attorney and Health Care Proxy, is a balance between security (protecting it from damage or theft) and accessibility (ensuring your executor, trustee, and agent can find and use the documents, when needed).
Recommended Storage Locations:
- With Your Attorney: Many people leave their original Will with the law firm that drafted it. Attorneys often have secure storage for this purpose, and they can verify the document’s authenticity later on, if needed.
- At Home in a Fireproof and Waterproof Lockbox or Safe: A waterproof and fireproof storage box at home provides security while keeping the documents nearby. If using a safe, it is critical that your executor, trustee and agent know the combination or where the key is located to gain access to the safe.
- Filed with the Court: In New York, you can file your original Will with the Surrogate’s Court for a small fee. This ensures it is already in the court’s possession when needed.
Places to Avoid:
- Bank Safe Deposit Box: While highly secure, banks freeze these boxes upon the owner’s death, even if there is another owner assigned to the box. This can result in your family having to seek a court order just to gain access to the box, causing significant delays and cost.
- Hiding Places: Do not hide your Will or other important legal documents in obscure places like under a mattress or in a random box or book. If your family can’t find these documents, they could be deemed to no longer exist.
Critical Final Steps:
- Inform Your Executor/Trustee/Agent: The most important rule is that your executor, trustee and agent know exactly where your legal documents are located and how to access them (codes, keys, or law firm name).
- Keep Staples Intact: Never remove staples from your original Will to make copies; doing so can lead to it being questioned or invalidated by the court.
Are your Will and other important estate planning documents stored in a safe and accessible place? Do you have an estate plan — and is it up to date? We’re here to help. Please call or e-mail our office to schedule an appointment.
