Now that you’ve gotten your Estate Plan signed, stamped and in place, what do you do with it? First and most importantly, store your documents in a safe place and notify your beneficiaries of their location. We strongly recommend that you NOT store your originals in a safety deposit box as that often makes them difficult to access when they’re needed. In addition, we recommend taking the following steps:
- Electronic Files – Keep your electronic files in a safe place. You may send copies of your electronic files to your beneficiaries if you’d like them to have access to your documents.
- Last Will and Testament – We recommend that you advise the persons named in your will (such as executor, trustee and/or guardian) that he or she has been named in your will. At the very least, they need to know where to locate your original will in the event of your death.
- Durable Power of Attorney – Take steps now to make certain that your Power of Attorney will be accepted at banks, brokerage houses and other businesses and providers as written; some businesses require the completion of additional internal paperwork. It is much easier to get this taken care of ahead of time.
- Medical Power of Attorney – We recommend giving copies of your Medical Power of Attorney/HIPAA to your personal physicians and to the persons named in the document.
- Directive to Physicians – Your Directive to Physicians is effective immediately and you may choose to give copies to your personal physicians and trusted family members. If you ever decide to revoke your Directive to Physicians (or any of your legal documents), you should destroy the original and all copies that you’ve distributed.
- Declaration of Guardian – You may choose to give copies to the persons named in the document, but if you ever revoke it, be sure to destroy the original and all copies.
- Appointment for Disposition of Remains – You may choose to give copies to the persons named in the document, but if you ever revoke it, be sure to destroy the original and all copies.