Where To Store Important Estate Planning Documents
Creating an estate plan is a very responsible and forward-thinking thing to do. It is the only way to ensure that your final wishes are fulfilled and that your family is taken care of. However, if people cannot find the documents you created after you pass away or become incapacitated, they may not offer the protection you had intended. The court may even determine that you destroyed the documents and so, now they are null and void. So, where is the best place to store your important documents? Below, our Daytona Beach estate planning lawyer explains.
Never Hide Your Estate Planning Documents
Perhaps you think a certain family member will find your estate planning documents and try to argue about your intentions. Or, maybe you want to hide the documents because you think it is the only way to keep them safe and protect them. Regardless of why you want to hide these important documents, you should never consider this as an option. There may come a time when your loved ones will need to find the documents quickly and when that happens, it helps if they are easily found.
Avoid Safety Deposit Boxes
Safety deposit boxes seem to be just that – safe. As such, you may think leaving your estate planning documents in a safety deposit box at your local bank is the best choice. Unfortunately, this is one of the worst places to keep your estate plan.
First, if you pass away unexpectedly, it may not be possible for your loved ones to locate them as quickly as they need to. Second, your safety deposit box will likely only be opened after you pass and so, any power of attorney or other end of life wishes you have will not be fulfilled. Lastly, even if your loved ones know your estate plan is in a safety deposit box, they may have to obtain a court order to open it, and they will be subject to the financial institution’s hours of operation.
The Best Place for Your Estate Plan is at Home
Many people think their home is the least secure place to store their estate plan but actually, the opposite is true. Your home will in fact, be one of the first places your loved ones look soon after your death or incapacitation. Leaving your estate plan here will help them find it more quickly and easily. Make sure they are in a fireproof and waterproof safe and also place it up high so the documents do not become damaged by the hurricanes and other tropical storms that often impact Florida.
Our Estate Planning Lawyer in Daytona Beach Can Advise on Every Aspect of Your Plan
Whether you need to create a will or trust, or just need other advice on different elements of your estate plan, our experienced attorney can help. At Bundza & Rodriguez, our Daytona Beach estate planning lawyer can advise on all aspects of your case so you are fully protected today, and in the future. Call us now at 386-252-5170 or connect with us online to schedule a consultation and to learn more.
Sources:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0700-0799/0732/Sections/0732.502.html&_ga=2.138961651.152988882.1584990142-1755332197.1584990142
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0736/0736.html
