Where Should You Keep Your Estate Planning Documents?

You’ve signed your estate plan. You’ve got the binder in hand. You walk out of the office feeling accomplished.

Now what?

One of the most common questions we get from families is: Where should we keep our estate planning documents? And it’s a good question. Because even the best estate plan in the world doesn’t work if your family can’t find it — or access it — when they need it most.

Why We Don’t Recommend Safety Deposit Boxes for Estate Plans

A lot of families immediately think, “Let’s put it in the bank’s safety deposit box.”

We understand the logic. It feels secure. It feels official. But in practice, it often creates unnecessary complications.

During the COVID-19 pandemic, banks were closed or required advanced appointments. We had estate plans locked inside safety deposit boxes that took far longer to access than they should have. When a loved one passes away or is in the hospital, time matters.

We’ve also seen families who didn’t even know whether their parents had a safety deposit box — or which bank it was at. We’ve seen adult children go from bank to bank trying to track one down. And if there’s no key? Now you’re involving bank officials, locksmiths, sometimes even the sheriff. It turns into a mess at the worst possible moment.

There’s another issue most people overlook: healthcare directives.

If it’s Saturday night at midnight and you’re in the hospital, your healthcare power of attorney needs to be accessible immediately. You’re not getting into a bank at midnight. And you’re probably not reaching your lawyer either.

An estate plan should be secure — but also accessible.

The Best Place to Store Your Estate Planning Documents

Our preferred solution is simple: a fireproof safe in your home.

If you live in the Midwest, many families already have a gun safe. That’s often a great option. These safes are typically secure, fire-resistant, and already located in a consistent place inside the home. But any fireproof safe will do.

What matters most is this: someone needs to know where it is.

You don’t need to broadcast it to everyone. But your trustee, your personal representative, or your children should know:

• That you’ve completed your estate plan
• Who your attorney is
• Where the original documents are stored

That knowledge alone can save your family hours — or days — of stress.

What If You Don’t Have a Safe?

If you don’t have a fireproof safe, choose a predictable, obvious location.

Think about where you already keep important documents. Maybe you have an office desk with a designated drawer for financial paperwork. Maybe you keep account passwords or tax documents in a specific binder.

Your will, trust, and powers of attorney should be stored in the same logical place.

When families know “this is where mom and dad keep important things,” it removes confusion during a crisis.

Should You Share Copies of Your Estate Plan?

In our firm, you keep the originals. We keep a copy. And we also provide an electronic version so you can store it securely on your computer or share it if appropriate.

Whether you share full copies with your family depends on your situation. But I do strongly recommend having conversations about your estate plan.

Your family doesn’t need every detail. But they should know:

• That you have a plan
• What your general wishes are
• Who to contact if something happens

Healthcare directives, in particular, are often wise to share with the person named as your healthcare agent. In our practice, we also send healthcare directives directly to medical providers so they are already part of your medical record. That way, no one is scrambling during an emergency.

Review Your Estate Plan Every 3–5 Years

Estate planning and farm succession planning is not a “set it and forget it” process.

Land values change. Tax laws change. Family circumstances change. Your estate plan should be reviewed every three to five years — or sooner if there is a major life event.

Too often, we see estate plans that have sat untouched for decades, stored away and forgotten. That defeats the purpose. A strong estate plan should evolve along with your life and your family.

Final Thoughts for Families

An estate plan only works if it can be found and used when it’s needed. Keeping your documents accessible, secure, and known to the right people is just as important as drafting them properly.

If you’d like a second look at your estate plan — or if you’re ready to start one — our team at Wagner Oehler is here to help. We’ve worked with Minnesota farm families for over 50 years, and we’re committed to helping you protect your land and transition it successfully to the next generation.

Because the goal isn’t just to have documents.
The goal is to make sure they work when your family needs them most.

If you’re ready to start being proactive about your estate plan, contact us to get started.

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