Plano Estate Attorney Recommends Storing Important Documents in a Safety Deposit Box

If you’re working with an estate attorney, depending on the type of plan he or she will likely help you compile a list of your assets and important papers as part of the planning process. Or he or she will give you a form that you can create the list yourself.

This list may include tangible assets, such as property and their titles, or not so obvious things like marriage certificates, military discharge papers or other important documents.

After the documents are gathered and easily accessible, your lawyer will then guide you through the process of keeping everything in a safe and secure place so that your loved ones can reach them easily in an emergency.

A safe deposit box is often one of our top recommendations for achieving this goal.

The main reason to rent and use a safe deposit box is, well, it’s safe.

Access to the contents is limited and it’s much less likely to be stolen or destroyed in fire or natural disaster.

You can also control who can open the box, and you can further give the person you designate as executor of your estate exclusive access so they can do their job more effectively.

Likewise, someone who has financial power of attorney may also need access in order to manage your affairs if you’re incapacitated but do not pass away.

In either case, you’ll need to follow the procedures laid out by your bank, and you may need the other party present to show identification. Don’t just assume that having an estate plan alone is enough to meet the rules of your local bank. They may have additional hurdles and requirements to deal with.

Of course there are items and documents that you may need to access more frequently that would make sense to keep at home, rather than in a safety deposit box.

If there is any confusion about this, as you work through your planning with your lawyer, he or she will answer your questions and help you create a storage plan with your convenience and maximum safety in mind.

If you have questions, you can give us a call at (972) 905-4394 to schedule a consultation.

Written by Miller Law Office

Miller Law Office

The Miller Law Office is here to help you build and protect your legacy. Rather than having a traditional estate planning practice, which is focused on transactions (such as the drawing up of wills and other documents), we have a more relational focus – having on-going contact with clients over the long-term, helping clients to protect themselves and their families.