"Practical" Estate Planning Tips- 2
How safe is a safety deposit box? It is probably pretty safe, but it may not be the best location to store an original Will. If you die with your Will in your box, and there is no one else with access to the box, then the only individual able to open the box is your Personal Representative (Executor). There is an immediate Catch-22, as one cannot be appointed as Personal Representative without the Will, which is of course in the box. Courts can issue an order to open a box for sole purposes of removing a Will. However, you can prevent many of these steps by ensuring that your family will have easy access to your Will after you are gone.
Labels: Banks, Safety Deposit Boxes, Storage, Wills
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