How to Finalize and Manage Your Completed Documents

Completing your Trust or Will is a crucial step in securing your estate's future, but it's just the beginning. After making these documents legally binding through signatures, follow these steps to ensure everything is set for the future.

What should I do once my documents are signed?

Once your estate planning documents are signed, you've crossed a major hurdle in ensuring your wishes are respected. Here's what to do next:

  1. Store in a Safe Place: Keeping your documents in a secure location is very important. This could be a fireproof home safe or a secure filing system.
  2. Notify Loved Ones of the Location: It's essential that your family, executors, or successor trustees know where these documents are kept. While sharing all details isn't necessary, disclosing the location is.
  3. Review & Update Your Documents Annually: Circumstances change, and so should your estate plan. Make it a habit to review and, if needed, update your documents each year.

Having open discussions about your estate plan can significantly reduce potential conflicts among your loved ones. Even a simple acknowledgment of the plan's existence and its location can go a long way.

Do my documents need to be filed with the state?

No, your documents do not require state filing while you're alive. The signatures on these documents are what make them legally binding. However, keeping them in a safe and known location to your named executors and loved ones is crucial. Upon your passing, your executor or successor trustee will handle the filing with local government entities as necessary.

Should I store it in a safe deposit box?

While a safe deposit box offers security, it may not be the most accessible option. In times of urgent need, such as making healthcare decisions, gaining access to a safe deposit box can be a bureaucratic and time-consuming process. Consider alternatives that balance security with accessibility.

What do I do after signing my Trust?

Signing your trust document marks a significant milestone in estate planning. The next step, funding your trust, is just as critical. This involves transferring ownership of your assets into the trust. It's a strategic move that helps your assets avoid probate, ensuring a smoother transition of your estate to your beneficiaries.

What happens to my documents if Trust & Will goes out of business?

Trust & Will plans to be around for a long time. But, on the off chance that we're not around anymore, any documents you've signed will still be legally valid.

You can also make new documents or change your Trust & Will Trust with the help of another attorney or a different service.

 

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