Have you ever wondered what happens to a Will once it has been signed?
We are often asked if there is a register of Wills or some sort of central storage area. The answer is no, the storage of a Will is entirely in the hands of the person who has made the Will.
It is important for the executors of your Will to know where the original is stored as it is needed when you die.
So who with or where should your Will be held? There is no single answer as circumstances are different for everyone. Often the law firm who prepared the Will keeps the original Will in their strongroom (basically a very large fireproof safe), so that family members or executors can contact that firm when the willmaker dies.
Another option is for the willmaker to keep the original in a safe place at their home and the law firm keeps a copy.
Our advice to our clients is to ensure that the executors of their Will and family members know where the original Will is kept. It is also important for them to know who prepared the Will in case they have questions or the original can’t be located.
If you decide to keep your Will at home, your family or friends will find it when they are sorting out your paperwork. When dealing with an estate, one of the major tasks is for the executors to list the assets and liabilities of the deceased. Having your Will with your general paperwork is a good idea.
It is important that when you make a Will you ensure that there is a record of where the original Will is kept so that can be easily found when you die.
After all, the purpose of making a Will is to ensure that your wishes are honoured when you die. To make sure that this occurs, your family and friends must be able to find the original Will when you die. Accordingly, once you have signed your Will you need to make sure that your Will is appropriately stored and that the people who need to know are advised where it is.
If you would like us to assist with your Will, please contact us on 03 6332 9353 or use our Contact Us form http://www.cormistonlegal.com.au/contact
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