You put a lot of time and thought into planning your estate and creating a sound Last Will and maybe even a Trust, but let me ask you one important question today:

Do your heirs (nieces and nephews, siblings) know where it is?

It may sound silly, but as a wills & estates lawyer I can tell you that this “oversight” happens more often than you would think.

It’s not uncommon for a Savvy Auntie to detail how she would like her wishes carried out in a will, then discuss these wishes with her loved ones—only to pass away without actually telling the family where to find the document.

This is especially prevalent among families who live far apart or who are not familiar with each other’s homes and lifestyles (Aunties, that’s you!).

If your Will cannot be found at the time of your death, your estate may still have to go through the lengthy and expensive court process (called probate), despite the time and money you spent to plan your estate. And if there are specific guidelines outlined in your Will that no one was aware of, there’s a good chance that they won’t be honored upon your passing.  

Aunties, that is why it’s particularly important for you to make sure that your loved ones or heirs know exactly where your Will is located, or that they at least know the name of the attorney who handled your estate planning. Also be sure to destroy any previous drafts of your Will–it can be very difficult for a loved one to prove your real wishes if there are two undated Wills floating around that tell conflicting stories.

You’ll also want to notify your heirs about the location of any safety deposit boxes, safes, or any other private information that they will need to know upon your passing.

Darlynn Morgan is an attorney, speaker, an Auntie (and a mom!). Darlynn makes it easy for your family to talk about and plan for tough subjects like money, death and taxes. Visit www.MorganLawGroup.com for more resources on how to make sure your kids are totally protected if the unthinkable happens to you.

Published: June 29, 2011