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I am often asked where is the best place to keep signed original estate planning documents.
I recommend keeping your documents in a safe location at home - preferably a fire-proof safe. Some suggest keeping your documents in a safe deposit box because it will protect the documents from theft, fire, accidental loss, and most other types of damage or harm. A potential problem, though, is getting it opened after your death.
If you decide to keep your estate planning documents in a safe deposit box, consider naming a family member or your executor as a joint holder on the box. That should simplify matters following your death because someone will be able to get into the box without delay. However, if you and the person you name as a joint holder die at the same time, we are back to square one. Additionally, you may need access to the documents when the bank is not open.
Remember: your documents are much more powerful if the right people know they exist and know how to find them!
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