Organizing and Storing Your Estate Planning Documents

Once you’ve properly signed all of your estate planning documents, it is important to make sure that they are accessible by the right people at the right time.

Original Documents

Although it was common practice in the past for lawyers to retain the originals of their clients’ documents, that practice is quickly fading away. Many lawyers now have a strict policy of returning the original documents back to their clients after signing. You should be sure to place them some place secure in your home, perhaps where you keep other important documents such as birth or marriage certificates. You should also let the people named in your documents know where they are located if something happens to you.

Copies

Your financial advisers or accountant may request a copy of your documents. Whether to reveal the documents to the people named in your documents or your beneficiaries is a judgment call. On the one hand, since these individuals will be responsible for managing your affairs and assets once you pass away, it makes sense to share the documents with them. On the other hand, you may decide to amend your documents in the future and having superseded copies of your estate planning documents floating around may cause unnecessary confusion. It is best to discuss this matter with your estate planning attorney to make sure you are making the right decision.

Scanned, Electronic Versions 

Making scanned, pdf copies of your executed estate planning documents allows you to easily share them in case of emergency. As mentioned above, your estate planning lawyer may no longer retain originals; instead, however, many are now in the practice of scanning and saving electronic versions of their clients’ documents. If that is the case with you, sharing your lawyer’s contact information with your loved ones may give them an additional place to look if they cannot locate your estate planning documents.

Labeling File Names

The file names for your scanned documents should indicate (a) what type of document it is, i.e., Living Trust, Will, Durable Power of Attorney, etc., and (b) the date that the document was signed.

Digital Accounts and Passwords

It’s also a good idea to put together a list of your online accounts along with passwords to access those accounts. In addition, you may want to leave behind instructions on what your wishes are concerning digital assets such as e-mail, social media accounts, etc.

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