Where Should You Store Your Will?
Your Last Will and Testament forms the foundation of your estate plan. While you may choose to create other estate planning documents, your will outlines how you would like your property distributed after you pass away, and names the guardian for your minor children. It is critical to create a will during your lifetime, even though it does not become effective until after your death. Below, our Carbon County estate planning lawyer outlines the best places to store your will so it can be easily found when needed.
Keeping Your Will Somewhere Safe is of Paramount Importance
You will create many important documents during your lifetime. Of these, your will is one of the most important. If you do not leave a will behind when you pass away, your estate will be considered intestate. This means the state will dictate how your assets are distributed according to the succession laws in Pennsylvania. When this happens, your property may not be distributed to your intended beneficiaries but instead, someone you may no longer be in contact with, or someone else that was not of your choosing.
Still, drafting a will does not automatically mean that your wishes will be fulfilled. If the document becomes stolen, damaged, or inaccessible, the courts will consider it invalid. The executor you name will need to produce the physical copy of your will to the court in order for it to be honored and authenticated. If your executor is unable to access, find, or deliver the original will, it is very likely that your estate will be subject to the intestacy laws.
Where Should You Store Your Will?
To protect your will from being destroyed or stolen, there are a number of places where you can store this important document. A fireproof lockbox kept in your home is one of the safest places to store your will. This will keep the document in your possession without risking its destruction in the event of a flood or fire. It is important to inform your executor or a loved one where the lockbox is located and to give them a key, or tell them where the key is stored.
Some people choose to store their will in a safety deposit box, but this does present some challenges. First, your executor will need authorization to access the safety deposit box and often that authorization is only provided in your will. This is particularly true if you have not completed paperwork at the bank authorizing your executor to access the box. Additionally, the bank may not be open at the time your lawyer or executor needs to access the safety deposit box.
Lastly, you can also store your will with the attorney who drafted it. Keep a copy within your home so you can review it periodically to determine if it needs updating. However, storing the original document at your attorney’s office can ensure it is kept safe and is accessible when needed.
Our Estate Planning Lawyer in Carbon County Can Store Your Will
At The Law Office of Kim M. Gillen, P.C.m our Carbon County estate planning lawyer can help you draft your will and ensure it is kept safe until it is needed. Call us now at 484-613-0011 or contact us online to schedule a consultation and to learn more about how we can help.
Source:
carboncountypa.gov/government/row_offices/register_of_wills.php
