I’ve previously written about the importance of having a Will, which allows you to maintain control over the distribution of your assets after your death.
However, having a Will and not knowing its location poses other issues during an already difficult time.
Recently, an acquaintance of mine passed away. He was 44 and had a heart attack. You never really know when it’s your time. He was with his partner for over a decade but unfortunately, never got around to getting married.
At the time of his death, in addition to the home they owned jointly, he also owned a condo, had an impressive investment portfolio and multiple bank accounts.
After the funeral, his Partner made multiple attempts to locate his Will at their home, without success, and the lawyer who drafted the Will does not have it.
We tend to recommend to our clients that they keep their Wills, which avoids misplacement, damage, tampering or theft, which could create new problems for your loved ones upon your death.
Wills are stored in a massive, locked, fireproof safe, which gives our clients reassurance that their Wills are safe and readily available upon request.
Some clients do prefer to store their own Wills, either in a safe at home or a safety deposit box; however, care must also be taken to ensure your Estate Trustee(s) and family members are aware of its location and how they are able to access it upon your death.
Unfortunately, his Partner is now in a very avoidable situation in trying to locate his Will so he can deal with his assets.
Having your lawyer keep your Will safe and sound significantly reduces any unnecessary stress during one of the most difficult times in your loved one’s life.
Murray Brown, Licensed Paralegal