You finally created your will. Now what?
Writing your will probably took a decent amount of time but it was worth it. Now what do you do with it? A will is not something you want to leave lying around and kept in secret. Where do you put it? Who should know about it?
Here is a brief, but comprehensive guide about handling your will after it’s written.
Where should you put it?
Your will is an incredibly important document. You do not want to put it just anywhere. However, it needs to be accessible in the event that someone needs to read it. There are a few safe and secure options:
- Safety deposit box at a bank
- Fire-proof lock box/safe in your home
- Will registry
These are three common storage places for your will, however there are still other options. You may want to speak with an attorney, or someone with experience in estate planning to find the best solution.
Who do you tell?
After your will is crafted, you may want to keep it a secret. You do not want this information getting into the wrong hands. However, it is important that you do tell some people about it, so they can access it when they need to.
You can share the contents and location of you will with your executors and close family members. Additionally, you can provide these people with a copy of your will, so they can have access to the information, without having the actual document.
Now that you have a location for your will and people who know about it, should you just keep it locked away forever? The answer is no. While you may not want to think about your will any more than necessary, it is necessary to update your will and other estate planning documents periodically.
There are many reasons for this. You may need to make changes or modifications to your will depending on the circumstances. Reviewing your will after large life changes or every three years is a good idea.
Having a well-crafted, thoughtful and protected will is important for many reasons. It can help guard your family and care for them when you are no longer able to. Keeping your will safe and secure is a crucial aspect of this.