Where Should I Keep My Will?
Creating a will is an essential step in securing your assets and ensuring your final wishes are carried out. However, knowing where to store this important legal document can sometimes be overlooked. Choosing the right location to keep your will is crucial to ensure its accessibility and safety. In this article, we will explore some common options for storing your will and provide answers to twelve frequently asked questions on the topic.
1. Should I keep my will at home?
While keeping your will at home may seem convenient, there are risks involved. A home can be subject to theft, fire, or other unforeseen disasters, potentially resulting in the loss or destruction of your will.
2. Can I store my will with my attorney?
Yes, many people choose to entrust their wills to their attorneys for safekeeping. Attorneys have secure systems in place to protect your documents and ensure their confidentiality.
3. Is a safe deposit box a good option?
Safe deposit boxes provided by banks are a popular choice for storing important documents, including wills. They offer a high level of security, protecting your will from theft and damage.
4. What if I store my will in a safe deposit box, and I pass away?
It is important to consider that if you are the sole owner of the safe deposit box and you pass away, the box may be sealed until the probate process is completed. This could potentially delay the execution of your will.
5. Can I store my will with a trusted family member or friend?
While it is possible to store your will with a trusted family member or friend, it is essential to ensure they can be easily contacted in the event of your passing. Additionally, it is crucial to inform them of the location of the will, so they can retrieve it when needed.
6. What if I lose my will?
Losing a will can create significant complications. To avoid this, consider creating multiple copies and storing them in different secure locations. Inform your executor or attorney of the locations, and keep a list of the storage places with your important documents.
7. Can I store my will digitally?
In some jurisdictions, digital storage of wills is permitted. However, it is crucial to ensure that such storage complies with all relevant legal requirements and that your digital will is easily accessible by your executor or attorney.
8. Should I inform my executor of the will’s location?
Yes, it is highly recommended to inform your executor of the will’s location. This will help avoid unnecessary delays and ensure that your executor can promptly carry out your wishes.
9. Can I change the storage location of my will?
Yes, you can change the storage location of your will at any time. However, it is important to inform your executor or attorney of the new location. Additionally, ensure that the new location is secure and easily accessible.
10. Should I give a copy of my will to my beneficiaries?
While it is not necessary to provide beneficiaries with a copy of your will, it can be helpful to do so. Sharing the contents of your will with your beneficiaries can prevent misunderstandings and potential disputes.
11. Can I keep my will in a fireproof safe at home?
Keeping your will in a fireproof safe at home is a better option than simply leaving it lying around. However, it is not foolproof, as a severe fire or natural disaster could still damage or destroy the safe and its contents.
12. What happens if my will cannot be found after my passing?
If your will cannot be located after your passing, the court may presume that you either revoked it or died intestate (without a will). This could result in your assets being distributed according to state laws rather than your specific intentions.
In conclusion, the storage of your will is a critical decision that should not be taken lightly. Considering the risks associated with various storage options, it is advisable to keep your will in a secure location such as a safe deposit box, with your attorney, or in a digital format if permitted by law. Remember to inform your executor or attorney of the will’s location and periodically review and update this information as needed. By taking the necessary precautions, you can ensure that your will is protected and easily accessible when the time comes to execute your final wishes.