If you’ve started estate planning, it’s essential to understand that this process doesn’t end once you’ve signed your Will or Trust. It’s necessary to ensure you store your Will, which is arguably one of the most crucial estate planning documents, in a safe location after a Medina County, Ohio Will preparation attorney helps you draft the document. However, you may not know the best place to keep this document. Luckily, this blog can help you determine the best place to safely store your Will.
Why Does It Matter Where You Store Your Will?
A Will is often considered the most important document you will create during the estate planning process. This document allows you to provide for your family and protect your assets. If you pass away without a Will, your estate will be considered Intestate. As such, the state of Ohio will take over your estate to distribute your assets according to their laws. A court-appointed representative will distribute your property and assets according to Ohio’s laws. Not only can this conflict with your wishes, but it also removes the peace of mind and protection that estate planning can provide.
Because they are so important, ensuring you take the necessary steps to store your Will in a safe location. Even if you create this document, if something happens to it, the state will treat your estate as if you never had a Will. For example, if you leave your Will in your closet, and this copy is destroyed in a house fire, your estate will be unable to produce the original document. As such, the state will take over the distribution of your estate.
Where Are the Best Places to Keep a Will?
There are several options you may choose to store your Will. Luckily, there are different options for where you can keep this document, which allows you to select the location you feel most comfortable with.
Generally, most people choose to keep their Will and other estate planning documents in a fireproof lockbox in their home. This ensures they can access the document as necessary without fear of damage in a housefire or flood. However, it is essential to inform a trustworthy individual where the lockbox is and where the key to the lock is. If you do not do this, your Will can be impossible to retrieve.
If you are uncomfortable leaving your Will in your home, you may want to store it in a different location. Many choose to place their documents in a bank lockbox. Similarly, some estate planning attorneys allow clients to keep their estate documents in their office once it is created. This is ideal, as it is a safe location, and your family will know how to locate your Will upon your passing.
When you’re ready to start planning your estate, ensuring you have an experienced attorney from Krause Law to guide you through this process is essential. Without a lawyer, you risk creating a Will that could be deemed invalid after you pass. As such, an attorney can help provide peace of mind that your wishes will be honored. Contact us today to learn how we can help you.