Hands up if you’ve binge-watched the latest season of The Crown? 🙋🏽♀️ (We’re team Princess Di all the way). As a lawyer obsessed with all things estate planning, it led me to ponder the contents and whereabouts of the late Queen Elizabeth’s last will and testament.
Unlike normal wills, which often go through probate and become available for public viewing, it turns out royal wills are never made public. What we do know is that Queen Elizabeth struck a deal with the British Government in 1993, exempting her family from death duties or taxes on the inheritance. With an estimated personal fortune of around $1.3 billion, King Charles and Prince William as primary beneficiaries will be happy about that!
Back to the Queen’s will, it was sealed and secured in a safe at an undisclosed London location for 90 years. Unfortunately, mere mortals don't enjoy the same luxury of hiding our wills. In fact, one of the most common questions people ask is…
How Will My Family Find My Will When The Time Comes?
When someone passes away, it’s vital that their family can locate the original will. Countless families have experienced difficulties finding the original documents because their loved ones failed to inform them, and a copy of the will won't suffice. If only we had a dollar for every such situation like this!
Below are a few options for storing a will but, whatever you do, inform the executor about the exact location of the original and provide them with a copy.
Solicitor Storage
Many solicitors offer a safe custody service where clients can store their original wills. This ensures both the will's safety and accessibility for the family when required. Make sure to inform your executor of the solicitor's details.
Bank Safe Deposit Box
Renting a safe deposit box at a bank is another secure option. It’s essential to ensure that your executor and family members are aware of the box's location and have access to it. Clearly communicate the retrieval process to avoid any confusion.
Digital Storage Options
Certain online platforms provide secure storage for important documents, including wills. It’s crucial to select a reputable platform that offers robust encryption and security measures. Inform your executor about the online storage location and provide them with the necessary access details.
At Home in a Secure Location
Another option is to keep your will at home in a secure and fireproof location, such as a safe or a locked filing cabinet. Inform your executor about the specific location and remember to update them if it gets moved or access codes or keys change. Keep in mind that storing your will at home may pose a risk of loss, damage, or unauthorised access if proper security measures are not in place.
Be Preemptive About Your Will
Remember, regardless of the chosen storage option, clear communication with the executor and your loved ones is paramount. Ensure they know where to find the original will to prevent complications and facilitate the smooth execution of your wishes.
While most of us cannot keep our wills hidden away for 90 years like the Queen, we can take proactive steps to securely store them and make them easily accessible when needed. By assisting your family in finding your Will, you can provide peace of mind and clarity during a challenging time. Get in touch with our estate planning lawyers if you require assistance with a will, estate plan or probate and estate administration matters.
