Physical and Digital storage…Smart Will
Where should I keep my will?
This is something that is often not thought about until after a will is actually written but although it may seem a simple and practical question, it is a really important issue to think about.
When a person passes on, it is a time of great stress for their family and friends and finding all of the paperwork required, including the last will is frequently cited as one of the biggest problems.
Although they may have thought ahead and made the entirely sensible decision to have an online will prepared, if no-one knows where the document is or indeed that one was made in the first place then it is an effort that is largely wasted!
Where to keep your will
The first location that many people think about is lodging this with the person or company that wrote the Will.
This is a good option because professionals that offer a Will storage service often have flood/fireproof storage facilities.
The downside, of course, is that they may well charge you, either a one-time document fee or an annual storage charge which could well add up.
Another costly option is to have a safe deposit box at the bank. This is another obvious place but is a poor choice because often it is difficult to gain access to the box by anyone other than yourself.
In England and Wales, you can choose to lodge it with the Probate Service like Smart Will where it will be completely safe and upon your death and can be accessed easily.
You must make sure that it’s in a safe place, but it needs to be accessible by someone who is looking for it.
It is also important to think about what could happen to the document in the case of a fire or flood, would it survive?
Although you may not have to pay for storage in your home, you may need to invest in a secure safe that will keep it in good order should there be some form of a disaster occurring to your property.
You could, of course, ask your executor to store your will for you which has the benefit that it should be free and they’ll know it exists and where to find it.
You do have to be aware that they may choose to read the document and may even tell beneficiaries which could possibly cause problems so make sure it’s in a stout, sealed envelope!
An awesome part of the Smart-Will service is the free, secure storage of your document so completing your online will makes both practical and financial sense.
The most important point
Finally, once you have completed your documents and received your printed, online will there is a really important step you need to take.
Wherever you choose to store your will the most important advice we can give is to make sure you have told your executor that one exists, where they can find it and if required ensure that they will be able to gain access when they need to.
After all, if no-one knows your will exists then it’s almost as though you haven’t bothered to write one!