Where Should I Keep my Estate Planning Documents?

Safekeeping Your Estate Planning Documents

Now that you have finished planning your estate, you may be wondering, "Where do I keep all of these papers?"

The best place to keep your original documents is in a secure location. Your agent(s) and successor trustee(s) should know where the originals are, and they should have access to the documents.

A safety deposit box is a great location for storing original documents. If you have an estate planning binder, you should place the originals in your safety deposit box while leaving copies of the originals in the binder.

If you choose to store the documents in a safety deposit box, please make sure that your agent or trustee has access to the safety deposit box. A problem can occur when the documents that empower your agent to have access are locked inside the safety deposit box. This problem is usually resolved by obtaining a court order which is counterproductive to your estate plan and an unnecessary expensive.  As an alternative to a court order, your agent may be able to ask the financial institution to conduct a "will search" which may give your agent access to your documents, but only upon your death.

A home safe is also a great location for storing originals, and most home safes also provide some sort of fire protection. You should show your agent and trustee where the safe is located and provide them with the combination.

I do not recommend storing the original documents with your attorney even if the attorney recommends it. Attorneys are people and businesses.  People move, die, and can be hard to find. Businesses change their names, are bought and sold, relocate, and go out of business. Your agent or trustee should be able to easily locate a safety deposit box, or your home safe, after you have provided them with access.