+“Daddy’s Dyin’ – Who’s Got the
Will?” This question sounds familiar to
many people, but very few know where it originated. It’s actually a masterful comedy written by
+ Del Shores set (where else?) in a small Texas town. The story focuses on the reunion of a family
gathered to await the imminent death of their patriarch who recently suffered a
physically- and mentally- disabling stroke.
Despite the title, the story is really about the rebirth of the spirit
of a family united.
It’s unfortunate, but sometimes it
takes the illness or death of a loved one to bring a family together. The first priority in those difficult times
should be comforting one another, mending broken relationships, and honoring
the deceased. The last thing on anyone’s
mind should be, “Who’s got the will?”
This week I want to share practical guidelines
with you about where you should store your will, trust, living will, durable
power of attorney, and other important estate planning documents. If you think that all of these documents
should be locked away in a safe deposit box, think again. It is important
for a few of the documents to be readily within reach. This is an article you should cut out, save,
and share with your friends and family so no one has problems reaching the
important documents when they are most needed.
Here are some guidelines:
Rule # 1: Tell your family where
you store you legal documents, whether at home, in the bank, or both. Be specific.
(“The right upper side of the master bedroom room closet in the red
box.”)
Rule # 2: If you already have a
safe deposit box: The best place
to store your original trust and original will is in the safe deposit
box The reason: Banks are generally fire-proof. If your original documents are destroyed,
your family can always ask a court to accept a copy of an original or you can
redraft your trust as a “restatement”, but it’s always best to safekeep your
originals in the first place. Safe
deposit boxes offer that extra protection.
Rule # 3: If you don’t have a
safe deposit box: It’s okay to
keep legal documents at home, but understand that in doing so you are accepting
the fire, tornado, or water damage risk.
If you live in a single-story home, place the documents on a high shelf,
away from any area that might suffer from water infiltration. It’s best to place the documents inside a plastic
or metal, water-tight storage box. Fireproof
safes are another alternative.
Rule # 4: Keep All Medical
Directives at Home, and Take Copies to Your Doctors / Hospitals. Even if you have a safe deposit box, keep
your directive to physicians (living will),
medical power of attorney, and HIPAA release at home where you can
access them 24/7. Many medical
emergencies happen at night or on the weekends at a time when banks are
closed. What is equally as important
is to take copies of these documents to all of your doctors at your next
appointment, and ask them to put a copy in your chart. Also take a copy with you to the admissions
office any time you have in-patient or out-patient treatment in a
hospital.
Rule # 5: Send Copies to the
Important Family Members Named to Handle Your Affairs. If someone in your family is trusted enough
to be named as executor in your will or trustee of your trust, then they
probably should have a copy of all of your estate planning documents
now. There are exceptions, of course, so
use your own judgment.
Hopefully you and your family will
find these guidelines helpful. It will certainly put your minds at ease in the
event of a crisis to already know where these documents are, should you need
them.
For more
information on estate planning and other legal needs, or if you have a legal question
you would like for me to address, please visit my website at www.leflerlegal.com, email me at slefler@leflerlegal.com, or call me at 512-863-5658. My office is located in Tamiro Plaza, 501
South Austin Avenue, Suite 1320, in Georgetown, Texas.
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