This week’s question:
My wife and I are thinking about a new living trust, wills,
and other documents, including a durable power of attorney for asset management
and advance health care directive. It sounds like the volume of paperwork is
incredible! My question is a simple one: where do we store our documents once
they are all signed—at the attorney’s office?
/s/Larry L.
Almaden Valley
Dear Larry:
You have emailed in a very common question, Larry. At the
conclusion of most projects dealing with living trusts, wills, and related
documents, clients want to know about where to store the papers.
I think it is safe to say that practices vary a little bit
from office to office. Our practice has been for many years that we do not
like to retain original documents. We typically provide the originals and two
copies to the clients and we retain a copy of the signed documents for our
file.
With the advent of good photocopiers many years ago, there
is really no need for us as attorneys to retain the originals, and under the
California Evidence Code, a copy can usually be as good as the original.
We usually recommend that the clients place the original
documents in a very safe place, like a safety deposit at the bank and that they
retain at least one of the sets of copies at home for ready-reference.
A question that often arises is whether to give a copy to
the family, such as adult children or the Successor Trustee of the Trust and/or
Executor of the Will. We have found that this is a personal decision that
varies from family to family. Some clients like to keep all documents to
themselves, so to speak, and others like to provide copies to key individuals.
At the very least, key individuals, like the Successor
Trustee of the Trust and the Executor of the Will need to know where to find
the documents in case the need arises, like in a certain area of the home.
Sometimes the key individuals are named and sign on bank deposit access cards
on file at the bank so as to have ready-access to the important documents in
times of need.
Of course, a copy of the Advance Health Care Directive
should be provided to the person’s doctors and hospitals, just in case
the need arises. In fact, hospitals are now required to ask if patients being
admitted have such a document. And for good reason.
Another good reason for clients to have copies of their
documents at home is for periodic review of them just to make sure they have
their legal papers in order. It is good to review them at least once a year if
not more frequently.
/s/Donald J. DeVries
Almaden Valley
Donald J. DeVries is an attorney practicing law in the
Almaden Valley. Past Almaden Times articles
since 1986 can be accessed through his web site: www.almadenvalleylawyers.com. If
you would like him to answer your question in his next Almaden Times column, you can reach him by
email at don@almadenvalleylawyers.com,
with “Almaden Times” in the subject line, fax at (408)268-6502,
telephone at (408)268-9500, or mail at DeVries & Horowitz, 6475 Camden
Avenue, Suite 200, San Jose, CA 95120. Your matters are personal and private,
so of course, he will not disclose your identity or any details about your
situation. Mr. DeVries writes this column to provide you with general
information about important legal matters affecting California
residents—not to give you legal advice about your specific matter. No
attorney-client relationship is created by these articles. The law is complex
and constantly changing and varies from state to state. So you should consult
an attorney before taking any action that would affect your personal or
business matters.
November 14, 2011
