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The Importance of Proper Document Storage
Estate planning documents are only effective if they can be found and accessed when needed. Proper storage ensures your documents remain safe from damage, theft, or loss while being accessible to the right people at the right time.
A comprehensive storage strategy combines physical and digital methods, balances security with accessibility, and includes clear instructions for your loved ones about document locations.
Physical Storage Options
- Home Safe:
- Fire-proof and water-proof rated safes
- Bolted to floor or wall for security
- Immediate access for you
- Share combination with trusted person
- Bank Safe Deposit Box:
- Maximum security from theft
- Protection from natural disasters
- May be sealed upon death (state-dependent)
- Limited access hours
- Attorney's Office:
- Professional security and organization
- Attorney can assist with execution
- May charge storage fees
- Access if attorney retires or relocates
Digital Storage Solutions
- Cloud Storage Services:
- Dropbox, Google Drive, Microsoft OneDrive
- Encrypted folders for sensitive documents
- Accessible from anywhere
- Version history and backup
- Specialized Estate Planning Platforms:
- Everplans - Comprehensive life and legacy planning
- DocuBank - Medical document access for emergencies
- LawSafe - Secure legal document storage
- FidSafe - Free secure document storage
- Password Managers:
- 1Password, LastPass, Keeper
- Secure storage for digital account information
- Emergency access features for designated contacts
- Document attachment capabilities
Critical Security Tip:
Never store the only copy of important documents in a single location. Use the 3-2-1 rule: Keep 3 copies of important documents, store them in 2 different types of media or locations, with 1 copy stored off-site or in the cloud. This ensures document availability even if one storage method fails.
Document Organization System
Essential Documents Binder:
- Will and/or Trust documents
- Power of Attorney documents
- Healthcare directives
- Insurance policies list
- Account information summary
- Contact list for advisors
- Burial/funeral instructions
Supporting Documents File:
- Property deeds and titles
- Investment account statements
- Tax returns (7 years)
- Business agreements
- Loan documents
- Marriage/divorce certificates
- Military discharge papers
Access Instructions for Loved Ones
Create a "Letter of Instruction" that includes:
- Location of all estate planning documents
- Safe combinations or key locations
- Password manager master password or recovery method
- Attorney and financial advisor contact information
- Bank and investment account locations
- Digital asset inventory and access
- Specific wishes not in formal documents
Emergency Access Planning
- Medical Emergency Card: Carry card with healthcare proxy contact and document location
- Emergency Contacts List: Provide to close family members
- Hospital Pre-Registration: File advance directives with local hospitals
- DocuBank or Similar Service: 24/7 emergency access to medical directives
- Trusted Contact: Designate someone who knows all document locations
Digital Estate Management
Document and secure your digital life:
- Online Accounts: Banking, investments, utilities, subscriptions
- Social Media: Facebook, LinkedIn, Twitter legacy settings
- Digital Assets: Cryptocurrency, NFTs, domain names
- Cloud Storage: Photos, documents, creative works
- Business Accounts: Website hosting, payment processors
- Email Accounts: Primary communication and recovery emails
Document Maintenance Schedule
- Annually:
- Review beneficiary designations
- Update account inventory
- Verify document locations
- Test digital access methods
- Every 3-5 Years:
- Review all estate planning documents
- Update power of attorney documents
- Reassess storage methods
- After Major Life Events:
- Update documents as needed
- Redistribute updated copies
- Destroy outdated versions