Clients often ask us where to keep original wills, trusts, and powers of attorney. There's no one-size-fits-all answer. But here's what you should consider.

Safe Deposit Boxes

Pros of Using a Safe Deposit Box

Some people keep original estate planning documents in a bank safe deposit box. This can work-if a trusted person also has access to the box. But be careful. Giving someone permission to enter your box doesn't give them full legal rights.

Risks of a Safe Deposit Box

You rent a safe deposit box from the bank. If you're the only person on the lease, no one else can access it. If you become incapacitated or die, your family may need a court order. Court orders take time and cost money.

How to Make It Work

You can sometimes add your revocable living trust as a co-tenant. This gives your successor trustee legal access if you become incapacitated. Also, make sure loved ones know:

• Which bank holds the box
• The exact branch location
• Where you keep the key

One Final Caution

Banks close at night and on weekends. Your family can't access your documents outside banking hours.

Home Safes

When a Home Safe Works Well

Home safes are another option. But the safe must be:

• Bolted to the floor
• Fireproof
• Waterproof

Also, give someone you trust the combination. Or leave the combo in a secure, accessible spot.

Your Estate Planning Attorney's Office

Why This Was Common Before

Many attorneys used to hold original documents. They often did this for free.

Why It's Less Common Now

Most attorneys don't want the liability anymore. Over time, your attorney might:

• Change firms
• Retire
• Pass away

If that happens, your loved ones may struggle to find your documents.

Corporate Trustees

Why a Corporate Trustee Can Be a Good Choice

You might name a bank or trust company as executor or trustee. If so, ask if they'll store your documents. They often have secure systems in place for storage.

What You Should Do

Make sure a loved one knows where your documents are stored.
Confirm the corporate trustee will accept and safeguard originals.

Final Thoughts: Make Sure Someone Knows

It doesn't matter where you store your documents-just make sure someone knows. Tell a trusted friend, family member, advisor, or your attorney.

If no one can find your originals, the law might assume you destroyed them. In that case, your wishes won't matter. Your assets will be distributed by state law-often not how you intended.

Need Help?

If you're unsure where to store your estate planning documents, we can help. Or, if you need to create or update them, call us today.