When you’re done creating the most important documents in the world – your original estate plan – where should you keep it? In a place that your next trustee or executor can easily find it! I like to keep it on my shelf in my home office so I can update it whenever I want to add a new bank account or a special gift to someone. It’s important to keep almost every asset in the trust and the list of assets can change all the time. Wherever you keep it, show your trustee where it lives.
Here are a few tips:
Do scan it and save it on a thumb drive, so if your original is lost, you have an electronic back up. You can give a copy of your electronic version to your next trustee either on a thumb drive or share it via Dropbox, a free file sharing system online. This is the most secure system I’ve found so far. If you’re scared to share documents online, don’t scan your list of assets since it has bank account information.
Don’t file it with the court! Don’t send us a copy either – since attorneys from Your Legacy Lives are not involved in your estate- unless you hire us separately.