Common Places to Store Your Estate Plan

There are a few reliable options for storing your estate planning documents, and each one has unique benefits.

• A safe deposit box at a bank. This can be a secure place, but you must list other trusted individuals as co-owners on the box and provide them with a key. If their names are not on the box, the bank cannot allow them access, even if they have the key.
• A home safe. A high quality safe can work well, especially one that is fire resistant. Be sure to give trusted individuals the combination or access code so they can retrieve the documents if you are unable to do so.
• A fireproof document container. Many people store their estate plan in a fireproof folder or lockbox. These are designed to protect documents in the event of a house fire, and they are often easier to manage than a large safe.

In addition to the physical storage option you choose, it can also be helpful to save electronic copies. While original documents should never be destroyed, digital backups can be useful if the originals are temporarily misplaced. In some situations, courts allow probate to proceed using a copy of a will, although additional steps may be required.

Your estate planning firm will typically provide both physical and electronic versions of your documents so you can store them in multiple secure places.

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Why Proper Storage Matters

When someone passes away or becomes incapacitated, loved ones often have to locate key documents quickly. If a will, trust, or power of attorney is locked away with no access or hidden in a place no one knows about, it can delay the entire process. In some situations, it may even force the family into court to request permission to open a safe deposit box or establish authority to act.

For this reason, communication is essential. Let your trusted decision makers know where your documents are stored and how to access them. This simple step can save significant time, cost, and stress later on.

At Yanowitz Law Firm, we regularly help families understand not only how to create a strong estate plan but also how to safeguard it. Proper storage is one of the easiest ways to ensure your wishes are honored.

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Frequently Asked Questions

1. Is a copy of my will good enough for probate?
A copy can be used, but additional legal steps are required. Courts prefer the original, so it is always best to protect and preserve the signed version.

2. Should I store my estate plan only in digital form?
No. Electronic copies are helpful backups, but original signed documents should always be kept. Some legal processes require originals.

3. Can my family access my safe deposit box after I pass away?
Only if their names are on the box. A key alone does not grant access. Make sure trusted individuals are properly added.

Author

Claire creates wills and trusts which provide security and peace of mind. She compassionately listens to her clients’ dreams, goals, and fears and then fashions plans that best meet their needs. It is important to Claire that her clients understand different options and make decisions that are right for them. She loves to educate clients by drawing out complicated concepts.

Come visit us! Conveniently located in Rochester, Minnesota.