Many Duluth area residents have taken the time to create their estate plan. They understand that having this in place can alleviate stress and offer peace of mind. Since these documents are so important, storing them safely is critical.
Those who have created an estate plan understand that there can be many documents involved. There are wills, trusts, health care directives, and other items that can make up a person’s estate plan. Having these documents readily available when the time comes is critical. Although many people have their estate planning attorneys hold the documents for them there are other methods as well.
A person should not put these documents in a safe deposit box. When the time comes to access these documents a court order is usually required which can take a long time. A fireproof safe is a good option for home storage with copies kept in a safe deposit box. Regardless of where these documents are stored it is important that a person shares that the documents exist and how they can be accessed. If the unexpected happens, time is of the essence, especially for health care directives and power of attorney. In addition, once an estate plan has been created it is important that it continues to be updated through the years. There are many life changes that can impact estate planning documents, including marriage, divorce, birth of a child, etc.
A legal professional who specializes in estate planning understands that each family has their own estate planning needs. They can help their client create an estate plan that works for their family and meets their needs and desires.
