Where Should Important Papers Be Stored?
You should have notarized copies of your will filed with your lawyer, if you have one, and in a safe place in your home, such as a filing cabinet with a dedicated space for important documents. You can also opt to give copies of your will and living will to your executor, so that they know who to contact, such as your lawyer, investment account holders, and any other relevant parties. Make sure that each item is dated, and is up to date as your circumstances change, too, such as marriage, having a child, and divorcing.
Storing copies in your own home is especially useful if you're planning for your spouse or another family member to be an executor. Make sure that they know where to find the paperwork. Having digital copies can help, too, which you may wish to email to your attorney and executor, or store on a thumb drive in your safe at home. You can also store important papers in a bank’s safety deposit box, but just be aware that your estate executor will need your will in order to access these.
Since it’s advisable to store copies of important paperwork in various locations, it’s smart to consider all of the above options together, even if it seems like overkill now. Trust us, your estate executor will thank you. Another great location for important documents? A modern and safe digital vault, like ClearEstate’s Vault ID. This secure vault allows executors to access your information in minutes, saving them days of digging.