Monday, December 7, 2015

What should you do with your will after you execute it?

In North Carolina, if no one can find the will after you die, it will be presumed that you destroyed it and it will be deemed revoked.  Your property will then pass by intestacy, meaning the state of North Carolina will determine who you property passes to.  
Even if every member of your family has copies, the North Carolina courts will require an original.  If there is no original, it’s possible to probate a copy, but the witnesses to the will will have to come forward, which is not possible at times, and there will be a lot of time and costs associated with getting a copy probated.

Where should you keep your will?

With the lawyer—Some attorneys will keep an original on file in their office, although I don’t think this is being done as often as it used to be because it creates liability for the attorney
In a firebox at home--This is a good idea as long as the people in charge of your affairs after you die knows where the firebox is.
File with the Clerk’s office—You can file the original at the Clerk's office, but for a small fee.
In a safe at home—Although these are not always fireproof, this is a reasonable alternative, as long as someone knows the will is located here.
Safety deposit box-- This is not the best idea, as banks in North Carolina will require a death certificate, a fee, and possibly a court official before they will allow a family member to access the safety deposit box.
In a freezer bag in the freezer—the freezer will survive a surprising number of calamities (I’m from Carthage---and you’d be surprised how many people from the country use this method).  Freezing solid eliminates mold and moisture issues.

It's just as important to make sure the people who will be in charge of your affairs when you die known where your will is located, and that this location is a safe place, as it is to execute a will at all.  If you have questions about where to put your will and how to keep it safe, please contact an estate planning attorney.





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