Should You Keep Your Will In A Safe Deposit Box?

It is no surprise that safe deposit boxes are the first choice for people to store their valuables. These safes are located at financial institutions and are often used to store jewelry, important documents, and more. While safe deposit boxes are helpful when storing certain items, they should never be used to store your will. Below, our Daytona Beach will drafting lawyer explains in greater detail.

Why You Should Not Store Your Will in a Safe Deposit Box

There are many reasons a safe deposit box should not be used to store your will. These include:

Accessibility issues: When the owner of a safe deposit box passes away, the financial institution that stores it typically seals it. This can make it difficult for personal representatives to access it when necessary.
Legal obstacles: Under Florida law, a court order may still be required to access the safe deposit box if the personal representative needs to prove their authority or identity, or if the financial institution is not cooperative with providing access to the box.
Delaying court deadlines: After a person passes away, the personal representative must submit a copy of the will within ten days of the death. This is not a long time and often does not provide sufficient time for a person to access the box to obtain the will.
Delay proceedings: When there is a delay in obtaining the will from a safe deposit box, it can also delay the rest of probate proceedings. This can result in a delay when distributing the property in your estate to beneficiaries, as they cannot receive anything until probate is closed.

Better Storage Options for Your Will

While a safe deposit box may not be the ideal storage location for your will, there are others that may be more suitable. These include:

Your lawyer: Keeping your original will with your attorney can ensure it is in a safe place. It is important to tell your loved ones and your personal representative where it is located and provide them with the name and contact information for your attorney.
A safe: Keeping a safe in your home can be a good place to store your will. Make sure the safe is fireproof and waterproof so the document will be kept in good condition. Again, also inform your family members and personal representative of the whereabouts of the safe and the contents within it.
Your personal representative: Like your lawyer, you can also leave the original will with your personal representative to ensure they have access to it if necessary. Ask them to keep the document in a fireproof and waterproof safe to ensure its proper condition is maintained.

Our Will Drafting Attorney in Daytona Beach Provides the Legal Advice You Need

At Bundza & Rodriguez, our Daytona Beach will drafting attorney can execute your document properly and provide the legal advice you need regarding it, including where to store it. Call us today at 386-252-5170 or fill out our online form to request a consultation and to get the help you need.

Source:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html