It is absolutely imperative that your Will is stored in a safe place, and that your family and the executors of the Will know where this is. It is possible to store your Will in your home but this is not the recommended location – when a Will is stored in your home there is a danger it could be stolen, become damaged or destroyed (commonly by fire, flood or rodents), or become lost if the executor is not fully aware of the location of the Will and how to access it. It is most appropriate if you store your Will somewhere outside your home. To do this you will have to pay a small yearly fee but this is worth it: losing a Will or a Will being damaged can lead to your wishes being lost entirely or the Will being contested in court.
What Options Do I Have For Will Storage?
A Storage Facility
There are many companies which specialise specifically in the storage of Wills. All the storage facilities they provide to you are completely insured. Depending on the company you go with you may be able to draft your Will, store your Will and redraft your Will with the same company over a number of years. The fee you pay the company will depend entirely on the service you wish to have from them. This decision is down to you.
A bank will store a Will for you for an annual fee. The most important thing to take care of when storing a Will with a bank is to ensure that your executor knows exactly which bank and where the Will is stored. This prevents any unnecessary hold-ups when your executor is trying to access the Will.
Many people will choose to store their Will at a solicitors’ office. This is likely to be the easiest option if you are drafting your Will with a solicitor – which most people will be as it ensures that no vital information is left missing from your Will and your Will is legally binding. This will also be extremely helpful if your solicitor is also your executor. Most solicitors will offer fireproof storage for your Will so you can be sure it is in safe hands. Again you will have to pay a small amount per year for Will storage services. If you need to draft a Will and store a Will you should contact a solicitor who specialises in Wills today.
The Probate Registry
The final option you have for storing your Will safely is to store it with the Probate Service. You must ensure that if you are choosing this option the Probate Service constantly has the updated version of your Will. If you update your Will and do not also update the copy of your Will they have stored for you, this could cause problems for the executors of your Will. They can store the original copy of a paper Will or you can upload and store electronic copy of your Will with them.
Roskell Davies are a law firm in Birmingham which provide Will storage services as well as Will drafting services. For a completely free initial consultation contact us today on 0800 142 2901 or fill in an online enquiry.