Storing your Wills independently and securely
The storage of financial documents is always important, however, nothing can outweigh the importance of having your Will stored independently and securely.
Here are some of the reasons why storing your Will is paramount and why choosingfor your storage is essential.
Wills may need to literally last a lifetime. Therefore it should be kept under the right light and temperature conditions.
Wills can be contested if they have a slight tear or marks on them. We know of instances young children have scribbled on a Will, and again they would become invalid.
It could get lost
You might loose your Will if it is not kept in a specific place or indeed your Executors may never find your Will.
It is important that your Executors know where you keep your latest Will. Hunting around the house on death adds to the frustration at a stressful time. Also if they find an earlier Will the chances are they will assume it is the latest one and stop searching.
Disappearance of the Will
It is important that your Executors take possession of your Will on death. If you leave the Will in the house they might not be the first person to discover the document, and if that person does not like the instructions the Will could be removed or destroyed.
The Importance of Independently Storing Your Will
Our Top Tips when choosing a Will Storage facility.
1. Do not choose premises that can be easily burgled or have the potential to catch fire. For example, a shop on the high street.
2. Do not choose a small practice or firm. For instance, what happens when the proprietor retires or worst still if the firm becomes insolvent as your Will might be frozen as part of their assets.
3. Do not choose a generic storage e.g. one that is typically using for furniture. A Will is dedicate and needs proper document storage.
All of our Wills are stored independently in a vault 100 feet underground which has been built out of solid rock, offering a naturally safe and secure environment. The facility, is maintained to BS5454 which is the British Standards recommendations for the storage, preservation archival documents. Among other things, it specifies temperature and humidity ranges for document storage, shelving schemes, and materials for document containers.
The Testators (the persons Writing the Will), are issued with certificates to pass to their Executors which enables them to retrieve the Will. The Executors also have to prove their identity should they wish the Wills to be retrieved. If later versions of the Will are written the vault is simply updated centrally.
It short, the facility and process has been designed specifically for dealing with Will storage and retrieval.
Q. Do I need to have my Will written with
A. No. There is no obligation to write your Will with us.
Q. Can I use the storage facility for other important documents?
A. Yes. The rule of thumb is for any documents that are not particularly time sensitive. For example, deeds to the house, marriage and birth certificates.
Q. How much does it cost?
A. There are two main packages: i) the purchase of vault for your lifetime ii) alternatively or by annual subscription. We are happy to discuss the features and benefits of each options.