3 Good Housekeeping Tips For Your Will And Supporting Documents

Congratulations—you've started the year by accomplishing an important goal: you've signed your Will! You feel good knowing you've chosen a trusted executor, protected your hard-earned assets for your children, and provided for the people you care about most.

But before you file it away and move on, there are a few practical housekeeping steps worth thinking about. These small details can make a big difference when your Will actually needs to be used.

1. Where to store your signed, original Will

Once your Will is executed, it is vital that the original is stored safely and yet be accessible.

If a grant of probate is required on death, the original Will must be filed with the court as part of the application so that the named executor can obtain a Certificate of Appointment authorizing them to administer the estate. Even where probate is not required, financial institutions and other organizations typically insist on a notarial copy of the Will, which cannot be prepared without the original.

Many lawyers offer to store original Wills in their firm's vault, and it is generally wise to accept this option. Doing so ensures the document is secure and readily retrievable when needed.

Storing your Will in a safety deposit box is usually discouraged. Upon death, the bank may require a notarial copy of the Will to grant access to the box - something that cannot be obtained if the original Will is locked inside.

Keeping the Will at home also carries risks, as it may be misplaced or damaged by fire or water. If you choose to store it in a personal safe, ensure that your executor knows how to access it, including any relevant codes or instructions.

2. Setting up your executors for success

The role of an executor is often time-consuming and onerous. Taking steps during your lifetime to organize key information can significantly ease the burden. Consider maintaining records that address the following:

1. Location of the original Will
   Once your Will is signed, inform your named executor that it exists and where the original is stored.
   
2. An asset spreadsheet or inventory
   One of the executor's primary tasks is identifying and consolidating the deceased's assets. Without a clear list, this process can become costly and time-intensive. Maintaining a spreadsheet or written inventory of assets and updating it periodically can be invaluable.
   For more complex estates, a detailed and well-organized summary is especially important. This information may also be stored with your lawyer during your lifetime.
3. A list of relevant individuals and their contact information
   Prepare a list of professional advisors and key contacts for your executor, including your lawyer, accountant, financial planner, and any banking contacts. If your Will includes gifts to specific individuals, it is also helpful to provide up-to-date contact information for those beneficiaries.

3. Communicating your funeral, burial, or cremation wishes

If you have particular wishes regarding your funeral, such as cremation versus burial, a specific cemetery, or details of a ceremony, you can include these wishes in your Will, but you should also communicate them directly to your executor or the family member most likely to make the arrangements.

Wills are often reviewed only after funeral, burial, or cremation arrangements have already been made. Having an upfront conversation can prevent confusion or unintended outcomes. If you have pre-purchased a burial plot or made other arrangements, be sure to share those details as well.

A well-drafted Will is an important first step, but it's not the whole picture. Taking the extra time to think through these practical details can help ensure your estate plan unfolds as smoothly as possible and make things much easier for the people you've chosen to carry them out.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.