Too many Americans procrastinate when it comes to writing their wills. In fact, according to reporting from CNBC, almost 70% of adults in the U.S. have not yet finalized one. If you belong to the exclusive group of responsible will writers, you might wonder where you should keep the original version of the document.
Because your will is an important legal document, you might be thinking of storing it in a safe deposit box. This seemingly makes sense, as safe deposit boxes protect against fire and theft. Still, a safe deposit box probably is not the best place for your will to be.
You wrote your will to plan for the disposition of your assets after your death. Therefore, you want your executor to be able to access the document quickly and easily when necessary. If your will is in a safe deposit box, he or she may have some tall hurdles to jump.
Now that you recognize the potential problem that comes with locking your will away in a safe deposit box, you should look for a secure place to keep it. A filing cabinet in your home is not a bad option. Nevertheless, you should give a copy to your executor and ask your attorney to retain one too.
By keeping the original copy of your will in your home, you have the ability to read through the document periodically. Ultimately, when you need to revise or update your will, having ready access to it ensures you do not join the procrastination club.