Once a Tennessee resident has gone through the steps required to create an estate plan, he or she often feels as though the matter is settled. There is an important aspect of estate planning, however, that is often overlooked. No matter how carefully one has planned, those provisions are of no use to those left behind if the estate plan cannot be accessed when the time comes to put those plans into action. The only way to give one's executor the ability to complete his or her job is to make sure that the documents that make up an estate plan are properly stored.
There are a number of options available for organizing and storing estate planning documents. One choice is to create digital files for each piece of paperwork and to store those files in a secure online location. In order for this approach to be successful, it is necessary to discuss the matter with those who will need to access the estate plan. Those loved ones will need to know where to find the files as well as any required passwords.
If an individual is not comfortable with digital estate storage, it is also possible to create a comprehensive filing system for paper documents. The system can be as simple or as complex as necessary. Many people use a series of file folders with subject tabs and/or color coding to keep things organized. Here again, it is absolutely essential that loved ones know where to find this information.
When creating an estate plan, most Tennessee residents have the best interests of their loved ones in mind. Creating a system of storing estate planning documents is part of that consideration, and it will give one's executor the ability to find everything that is needed in one central location. That can make a difficult time far easier to manage for all involved.
Source: semissourian.com, "Get it together: Organizing your estate now will ease the burden on loved ones later", Suzanne Thompson, March 7, 2016