Location of Will

[Stephen1]

We were thinking about the safe deposit box method, but, as mentioned, the designated executor has to get the Will before (s)he can be appointed as executor. I didn't have a problem getting the Will when I was an executor, but I did have trouble getting into the safe deposit boxes. Multiple banks decided that since the Letters Testamentary didn't include the words "safe deposit box" that meant that I couldn't access them. Of course when I later brought this up to some lawyers they informed me that the banks were wrong. So what if the banks are wrong; if they won't allow me to access the box then they win.

I'm asking the question because I tried adding our sons to our box agreement but I feel that the bank is being difficult. So I was wondering about what other method to use.

The sons live out of state (Texas & NY) and we live in Washington State. Previously the bank allowed my spouse and me to add both sons' names and then a couple of months later bring one son in to add his signature. Now the bank has dropped the name of the son who hasn't signed and is requiring that all four of us (me, spouse, two sons) all appear at the bank at the same time to be able to add that other son so all four can sign at the same time. And even without adding the second son we all need to re-sign the agreement now as the bank has made some changes. Yes, I'm a little sour on banks right now.

 

[adjusterjack]

A highly rated fire proof safe may be the answer.

 

[stealth2]

We have copies of our wills in a safety deposit box at our bank and in a home safe and with our attorney. I think the odds of at least one copy surviving are pretty good.

Same. Not really that complicated. My folks had a certified and several copies at home, plus their lawyer had certified copies.

 

[stealth2]

We were thinking about the safe deposit box method, but, as mentioned, the designated executor has to get the Will before (s)he can be appointed as executor. I didn't have a problem getting the Will when I was an executor, but I did have trouble getting into the safe deposit boxes. Multiple banks decided that since the Letters Testamentary didn't include the words "safe deposit box" that meant that I couldn't access them. Of course when I later brought this up to some lawyers they informed me that the banks were wrong. So what if the banks are wrong; if they won't allow me to access the box then they win.

I'm asking the question because I tried adding our sons to our box agreement but I feel that the bank is being difficult. So I was wondering about what other method to use.

The sons live out of state (Texas & NY) and we live in Washington State. Previously the bank allowed my spouse and me to add both sons' names and then a couple of months later bring one son in to add his signature. Now the bank has dropped the name of the son who hasn't signed and is requiring that all four of us (me, spouse, two sons) all appear at the bank at the same time to be able to add that other son so all four can sign at the same time. And even without adding the second son we all need to re-sign the agreement now as the bank has made some changes. Yes, I'm a little sour on banks right now.

So make sure your lawyer has the wills and your sons have the lawyer's contact info. It doesn't have to be as complicated as you're making it.

 

[Zigner]

Another option is to send the original will to your son.

 

[quincy]

There are all sorts of good options. The key can be to have more than one copy of the original.

 

[Taxing Matters]

There are all sorts of good options. The key can be to have more than one copy of the original.

While keeping copies is useful, in at least most states it is the original will that is most important as that best survives any challenges, e.g. that the will was revoked later by the testator destroying it. As a result, I recommend that my clients take care in selecting where they store the original will and to make sure that the executor they've named knows where it is.

 

[quincy]

While keeping copies is useful, in at least most states it is the original will that is most important as that best survives any challenges, e.g. that the will was revoked later by the testator destroying it. As a result, I recommend that my clients take care in selecting where they store the original will and to make sure that the executor they've named knows where it is.

Certainly.

 

[TrustUser]

While keeping copies is useful, in at least most states it is the original will that is most important as that best survives any challenges, e.g. that the will was revoked later by the testator destroying it. As a result, I recommend that my clients take care in selecting where they store the original will and to make sure that the executor they've named knows where it is.

hi tm, how likely is that to happen ? it takes a long stretch of my imagination to think that a judge would overrule a copy of a will by some statement from someone saying that the testator revoked the original will by destroying it.

the op may want to talk to a credit union, as opposed to a bank. also, as my name suggests, what about a trust ?

 

[Bali Hai Again]

By the time the attorneys are done hashing this out WILL there be anything left for the beneficiaries? I don’t have a will. Waiting for technology to allow me to take everything with me.

 

[Taxing Matters]

hi tm, how likely is that to happen ? it takes a long stretch of my imagination to think that a judge would overrule a copy of a will by some statement from someone saying that the testator revoked the original will by destroying it.

It varies by state as to how easily a copy can be admitted. In the jurisdictions I practice it's up to the person seeking to get the will admitted that bears the burden to prove the will. That means he or she will have the burden to try proving the original was NOT destroyed or otherwise revoked to have a shot at getting it admitted for probate. As you can imagine, short of producing the original it's pretty hard to say the original was not destroyed.

also, as my name suggests, what about a trust ?

A trust document locked up in the decedent's safe deposit box will result in similar problems since access to the box would be needed and that typically means getting a court order before the financial institution will do it. However, with a trust it's not necessary to prove the original was not destroyed/revoked unless someone actually goes to court to contest the trust. After all, that's one of the trust benefits — the trust bypasses the normal probate process used to deal with the decedent's estate. Still, it's best to ensure as well as you can that the original trust document will be available as that makes challenges to the trust harder to do.

 

[Taxing Matters]

By the time the attorneys are done hashing this out WILL there be anything left for the beneficiaries? I don’t have a will. Waiting for technology to allow me to take everything with me.

It only gets really expensive if someone is challenging the will (or trust) and vigorously litigates it. The vast majority of estates/trusts don't have that problem. But good estate planning will take that possibility into account and that means protecting the document from unintentional damage or loss and making sure that the executor/trustee knows where it is so he/she can get the document to use in dealing with the estate/trust.

 

[TrustUser]

hi tm, you just added another reason why i hate wills !!

personally, i think it is generally a good idea to give a copy of one's trust to each beneficiary

in case you have never run across this, i thought i would share this clause with everyone. i have never seen this clause actually put into action. but i highly suspect that a copy of a trust agreement that is notarized, and matches the titling of the asset, will almost always be acceptable to a judge, should a court challenge actually occur

10.15 MULTIPLE COPIES OF TRUST

This Trust Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which will constitute one and the same Trust Agreement, and will be binding on the respective successors and assigns and all other parties.

 

[Taxing Matters]

hi tm, you just added another reason why i hate wills !!

What I posted applies to both trusts and wills. In both cases, the original document should be stored somewhere safe and where the trustee or executor knows to look for it (if he or she doesn't already have it). Wills work fine in my state and some other states at least where the estates are fairly simple. From what I know of CA law that state doesn't make probate all that easy or cheap, which accounts for the wider use of trusts in that state.