If you were to unexpectedly die, would your family know where to find and access your estate planning documents? If not, you need to take the steps to ensure that they’re informed. Otherwise, your well-laid plans can be derailed. 

Focus on your will

There’s a common misconception that a photocopy of your signed last will and testament is sufficient. In fact, when it comes time to implement your plan, your family and representatives will need a signed original will to accomplish that purpose. Typically, the original document will need to be filed with the county clerk and, if probate is required, with the probate court as well.

What happens if your original will isn’t found? It doesn’t necessarily mean that your will won’t be given effect, but it can be a big — and costly — obstacle. 

In many states, if your original will can’t be produced, there’s a presumption that you destroyed it with the intent to revoke it. Your family may be able to obtain a court order admitting a signed photocopy, especially if all interested parties agree that it reflects your wishes. But this can be a costly, time-consuming process. And if the copy isn’t accepted, the probate court will administer your estate as if you died without a will. 

Consider different storage options

To avoid these issues, be sure that your original will is stored in a safe place and that your family knows how to access it.

Storage options include:

• Leaving your original will with your accountant, attorney or another trusted advisor and ensuring that your family knows how to contact him or her. 
• Storing your original will at home (or at the home of a trusted family member) in a waterproof, fire-resistant safe, lockbox or file cabinet and ensuring that trusted family members know the combination or have access to the keys.

In many states, it can be difficult for loved ones to open your safe deposit box, even with a valid power of attorney. It may be preferable, therefore, to keep your original will at home or with a trusted advisor or family member. If you opt for a safe deposit box, it may be a good idea to open one jointly with your spouse or another trusted family member. That way, the joint owner can immediately access the box in the event of your death or incapacity.

Provide photocopies

Original trust documents should be kept in the same place as your original will. It’s also a good idea to make several copies. Unlike a will, it’s possible to use a photocopy of a trust. Plus, it’s useful to provide a copy to the person who will become trustee and to keep a copy to consult periodically to ensure that the trust continues to meet your needs.

For powers of attorney, living wills or health care directives, originals should be stored safely. But it’s also critical for these documents to be readily accessible in the event you become incapacitated. So, for example, you might want to avoid keeping these documents in a safe deposit box, where they won’t be accessible outside of banking hours. 

Consider giving copies or duplicate originals to the people authorized to make decisions on your behalf. Also consider providing copies or duplicate originals of health care documents to your physicians to keep with your medical records.

Destroy outdated files

Anytime you revise your estate plan, be sure to shred the old document. The last thing you want to happen is for your loved ones to be unsure which is the latest document. Contact your estate planning advisor to ensure you’ve covered all the bases and all your documents are updated, based on your current situation.