If you lose your original estate planning documents, such as your will, trust documents, powers of attorney, or healthcare directives, it’s generally advisable to take steps to replace them as soon as you can.
Here are some steps you can take if you lose your original estate planning documents:
- Search thoroughly: Before assuming the documents are lost, conduct a thorough search of your home, safe deposit box, or any other location where you may have stored them.
- Contact your attorney: If you worked with an attorney to create your estate plan, contact them immediately. They may have copies of your documents, and they can help you assess the situation and decide on the best course of action.
- Consider redoing the documents: Even if you have copies, it might be advisable to redo the documents to ensure they accurately reflect your current wishes and circumstances. Laws and personal situations can change over time, so updating your estate plan may be necessary. Additionally, a copy of a will is not admissible in probate court. If the original will is lost the law presumes that it was revoked, and your heirs will have to proceed as if you had no will.
- Notify relevant parties: If you do decide to redo your documents or if you’re unable to locate them, it’s essential to inform relevant parties such as your executor, trustee, or designated agents named in powers of attorney and healthcare directives.
- Review beneficiaries and asset ownership: Take this opportunity to review your beneficiaries and how your assets are titled. Ensure that they align with your current wishes and any changes in your life circumstances.
- Secure your new documents: Once you have new documents in place, store them securely in a safe and accessible location. Consider providing copies to trusted individuals or storing them in a safe deposit box.
- Update your estate plan regularly: It’s good practice to review and update your estate plan periodically, especially after significant life events such as marriage, divorce, the birth of children or grandchildren, or changes in financial status.
While losing original estate planning documents can be concerning, taking prompt action to address the situation can help ensure that your wishes are still followed and that your loved ones are protected in the event of your incapacity or passing.
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