After drafting your estate planning documents, it’s crucial to store them safely. You want to store your documents in a location that guarantees protection from loss, damage or unauthorized access. Nonetheless, you should not need to go through several steps to access them, for instance, when you want to update them.
Here are four locations to consider:
1. Your home
Keeping your documents in a home safe is one of the most convenient locations, as you can access them at any time. However, ensure you use a safe that’s fireproof and waterproof and offers a certain degree of protection against theft. Also, your executor should have the key/ combination.
2. Your attorney’s office
You can store your original estate planning documents at your attorney’s office and then have copies at home. This is a safe option, as law firms typically have fireproof and waterproof safes. However, accessibility may be limited by office hours. Ensure your executor has your attorney’s contact information.
3. Safe deposit box
You can keep your documents in a safe deposit box in a bank. This option offers substantial security, but it can create access issues if you don’t add your executor as a joint owner. The bank may require them to obtain a court order to access the documents, which can significantly delay the estate administration process. So, ensure you officially grant your executor access.
4. Document storage facility
Reno has several document storage facilities that offer secure, climate-controlled, fireproof and waterproof storage options. You can use this option for your documents. Compare a couple of companies to choose one that meets your needs.
Regardless of where you store your estate planning documents, make sure they are safe and your executor can easily access them. Additionally, make copies and have a digital backup. Learn more about other ways to make estate planning more efficient.