Advice: Aretha Franklin did what she was supposed to in drawing up a last will and testament, but a crucial mistake left her multimillion-dollar estate in chaos. Here are some options on where to store your will and other estate-planning tips.
this choice because the box might be initially inaccessible once you die. If your will is in the box, you can see the conundrum.
But this option could also be problematic if your family doesn’t know the name of the attorney who has the will. And what if the lawyer shuts down the practice or retires? Firms typically tell clients such things but not always, which means heirs have to try to track down the original will.Check with the local probate court about storing your will. Of course, you need to let someone know you’ve placed your will in the care of the court.
. You give the court your sealed will in the jurisdiction where you live for a one-time fee of $5. The will can then only be released to you or a person you authorize in writing to retrieve it.To keep your will safe, you could store it online. However, Nolo points out, most states don’t yet recognize electronic wills. This means you still need to have the originally signed copy of your will even if you store a digital copy.
To make things easier for your family, put together a binder and in it include a computer-generated letter with a list of important information, such as where you bank and important passwords. Tell your executor or personal representative where to find the letter. In the letter, indicate where you have stored the original will. You can keep a copy of the will in the notebook.
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