Wills are extremely valuable estate planning tools. Individuals with assets or beloved belongings must establish an up-to-date will that reflects their current situation. A will allows individuals to specify how they want their assets to be distributed after they’ve departed. Individuals must store their will in a safe place to protect it from being damaged or destroyed. If you are interested in creating a will, contact a dedicated Montgomery County Will Drafting Attorney who can help you get the ball rolling in the right direction to protect your assets. In addition, please continue reading to learn about the safest places to store your will.
Where do people usually store their will?
To keep one’s will safe from any physical damage or destruction, there are several places one can store it. Keeping a will somewhere safe can protect it in the event of a natural disaster, flood, or fire. Individuals may store their will at the following locations:
One common place individuals choose to store their wills is in their homes. If an individual does decide to keep their will at home, they must keep it in a safe place such as a fireproof safe or a locked cabinet or drawer. This way if something were to happen it would be safely locked away. People often choose this option as it is free. This gives them a sense of security knowing that their will is easily accessible to those they love after they’ve departed.
Safety deposit box
When individuals want to keep their valuable documents or beloved belongings safe, they can use a safety deposit box. A safety deposit box is more secure than a home safe as a safe deposit box is in a locked vault in a bank. This is a great option for individuals who value their privacy and security. Individuals with keys to the safe deposit box are the only people allowed to open it.
With their executor
Another option is to give the will to an executor. When an individual creates a will they must appoint an executor to carry out their wishes after they’ve departed. An executor is someone an individual trusts deeply. An executor is required to submit the will to probate court after an individual has died. Keeping the will with the executor may be a wise choice if an individual trusts them to store it safely. This can give them peace of mind knowing that it is in a place they can locate after they die. However, it is smart to have a backup plan in case the executor dies before them.
Ultimately, a will should be stored in a safe and secure place where it cannot be physically damaged or destroyed. An individual can store their will in several places. However, regardless of where they decide to store it, they must tell their loved ones where to locate it after they’ve departed. If you are interested in drafting a will, please don’t hesitate to contact one of our adept and dedicated attorneys. Our firm is committed to helping our clients protect their assets.