It’s also important to note that while online storage is convenient, it should not replace seeking expert advice in estate planning. It also should not replace having physical documents saved in a safe place.
The “legally binding hard-copy signed versions” are the most important, said Keckler from Ameriprise Financial.
There are some instances where you will need a signed document. For example, not all hospitals will accept electronic copies of legal documents such as power of attorney or a health directive, said Edelman.
In addition, different states have varying rules on paper documents. New York State still requires original copies for most legal documents, said Pierro of Pierro, Connor & Strauss.
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Experts recommend storing originals and copies with your attorney, and also in a safe or other secure location in your home with other important documents like birth certificates and marriage licenses.
One thing experts do not recommend is storing estate planning documents in a safety deposit box.
Such boxes are generally frozen in the event of your death, said Holeman from Betterment. There is a complicated process for opening them, said Pierro at Pierro, Connor & Strauss, and if you haven’t named another person on the box, your family would have to go through probate court to access its contents.
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