What is the reason I should keep an unsigned copy of my will?
Thank you.
Daily Dish Tip: Where NOT to Keep Your Will
Categories: Estate Planning
Today's Money Tip: We all know that we need to keep our will in a safe place. One option that many people consider is a safe-deposit box. Bad move!
Most states require a bank to seal a safe-deposit box upon the death of it's owner until the contents are inspected and a proper death certificate is provided.
We suggest you keep an original copy in your lawyer's office, keep an unsigned copy in your files at home and give an unsigned copy to a close friend or family member.
Read More In: Estate Planning
Ken and Daria Dolan have hosted their own national radio program for 22 years, anchored their own television shows on CNN, authored six books on money matters, served as money contributors on CBS This Morning and have now launched a comprehensive web site and free e-letter at Dolans.com.
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View unverified member's comment - posted by SharonGK
View unverified member's comment - posted by john rivers
When my father died when i was about 12 yrs old, i remember my mom taking us to the bank because she had to get into their 'safe deposit box'..oh it was HORRIBLE!! . she was crying , the president and another 'administrator' wouldn't let her TOUCH the box ( she said she was stupid in telling them her husb just died and she had to get into it to get papers , if she'd not SAID ANYTHING they wouldn't have known til later when the obit was in the paper , so she had time to empty it out on her own ) ...those 2 men stood there, went thru everything, wouldn't let her have anything or touch anything until days later - after they sorted thru things, as they put it. . and luckily for us, ,, they wanted to throw out a piece of paper that looked old . . that piece of paper was the deed to 1500 acres of land in another county that had my mom's name on it . . she stuffed the paper in her pocket - since they thought it was 'trash' ...and ended up selling all the land to a neighbor, that was the ONLY money we had to live on for weeks, til she was able to use the car. . .and use the checkbook . . back then, a woman was not allowed to drive the family car or use the checkbook if her husb died !!!!!. (thankfully those rules finally changed) but lucky for me, at an early age, my brother and i learned quickly about banks. . . and have NOTHING TO DO with any type of stupid boxes at a bank ... it's none of THIER business what you put in there but we don't use those things at all, we don't want our important papers, becoming 'their ' property.
I don't know if this is still true, but at one time I recall reading about going to a lawyer and setting up a nominee corporation for the sole purpose of opening a safe deposit box. The corporation would be the name in which the box was rented and the only place any individual names would be is on the signature cards. This would keep prying eyes out of it.
I don't have a "lawyer's office" to keep anything let alone a will. Not in my income bracket. I'm unemployed so my money goes to the mortgage and food. Surely you jest.
What DO you do with the original if you do not have a lawyer? We've never had a lawyer.
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View unverified member's comment - posted by Charles Morgan