As the blooms start peeking out in Atlanta, my mind’s turned to spring cleaning. But forget about tackling that chaotic junk drawer; let’s dust off something far more important – your legacy.
Over the next six newsletters, we’ll dive into each facet of our Legacy Building Formula™: from Estate Document Organization to Personal Property Allocation, aiming to inspire and streamline your legacy planning.
Kicking off with a head-scratcher: Where on earth are your estate documents?
The tales I could tell of clients, bewildered, pondering if their loved one even had a will, let alone where it’s squirreled away! Ever discovered a mysterious key and embarked on a treasure hunt, hoping it unlocks a fortune in a safe deposit box, only to find it’s just for an old shed? You’re in good company.
Misplaced or MIA estate documents can turn an already tough time into an unnecessary wild goose chase. Whether it’s a will playing hide-and-seek in a safe deposit box or snuggled under a mattress, knowing their whereabouts and keeping them current is key.
Now, let’s stir the pot a bit: Safe deposit boxes.
Not on my list of favorites. Why? Executors are often clueless about their existence or access rights, which can lead them spiraling into a comical yet frustrating treasure hunt.And before you ask where to stash those crucial documents, let me say: there’s no one-size-fits-all solution. But here are some helpful tips to keep your will or trust documents both secure and accessible:
Choose a Spot That’s Not Playing Hard to Get: A home safe beats a bank’s safety deposit box any day. Make sure it’s fireproof, though!
Spread the Word, but Keep it in the Family: Ensure your executor and loved ones know where to find your will.
Copy That: Hand out copies of your will to key people, but keep the original locked up tight.
Stay on the Ball: Update your will regularly and keep the latest version in your chosen spot.
Go Digital (But Keep It Secure): Consider using a secure cloud-based platform such as Keylu or locally-stored software such as My Data Diary (use code PALS for 15% off) for an electronic backup. Need some more digital repository suggestions? Let me know!
Remember, a hidden will is as good as no will. Don’t let your loved ones turn into amateur detectives posthumously. Secure your legacy and give your loved ones peace of mind. Keep your will and vital documents in a spot that won’t spark a family version of the “National Treasure” hunt. Communicating with your executor and keeping your paperwork fresh is not just smart; it’s an act of love.
Stay tuned for our next legacy tidying tip: Digital Asset Organization. Because, let’s face it, you can’t text your phone’s unlock code from beyond. We’ll even be launching a group coaching program designed to help you organize and safeguard your digital assets today.
Stay tuned for more details.
