Published on: 7th September 2020

Why is Will Storage so important?

An often overlooked aspect of what we do is Will storage. Having a Will put in place is only the first step – telling your family and executors where your Will is kept is an equally important step and we will explain more in this article why Will Storage is so important!

Here at Casey & Associates, we offer a safe and secure Will Storage service to our Clients and encourage them to let all executors know that we hold their Will so that when the time comes and the Will is needed, it can be accessed quickly and efficiently. If a Will is clear and accessed quickly then executors are able to start administering the Estate as required. This could mean something like checking all relevant policies to make sure the house is insured correctly, or even bringing in a professional straight away to start administering the Estate. If you want more information about the options for who should administer your estate then read our previous article.

If, however you do not have your Will securely stored then you could be creating major problems for your family and friends and any executors. Common scenarios when a Will cannot be found are that a previous, outdated Will becomes valid, or if no previous Will can be found then the deceased is deemed to have died without a Will. Both of these scenarios are far from ideal for reasons we detail below:

A previous Will is found

Many people will have multiple Wills drawn up for them over their lives to account for various changing circumstances. This may be as simple as just going from not having children to having them or much more complex where you re-marry and have children, step-children and step-grandchildren who you want to include in your Will.

If you know where your most recent Will is stored then this does not pose a problem as your family and executors would simply refer to this. If, however your most recent Will cannot be found – perhaps it was discarded when the deceased’s children were having a clear out then this can cause a major problem. In this situation there can sometimes be a historic Will which is found and then has to be used so if, for example a Will created in 2015 to revoke a 1995 Will cannot be found, but the 1995 Will can be, then the Will from 1995 is the document that will be referred to with the executor from the 1995 Will being placed in charge.

This scenario is not uncommon and, aside from meaning the Will is likely to be extremely out of date in terms of distribution of assets can lead to numerous other problems. The deceased for example may have subsequently fallen out with the executor they placed in charge of the 1995 Will. In this instance it is highly likely that the wishes of the deceased will not be carried out.

No previous Will is found

If no previous Will is found then the deceased will be deemed to have died intestate. If this happens then someone (usually a family member) will need to go to court to be deemed a ‘personal representative’. Not only does this incur the costs of going to court, but it can lead to internal disputes within families about who should be the personal representative which can cause much distress at an already stressful time. You can read more about how this scenario can play out in a previous article.

Not only can disputes, additional costs and stress be caused, but it can sometimes take time for an executor to be named. This can lead to further problems with a typical issue being buildings insurance. This may be in the name of the deceased and invalidated within a certain time period if the name is not updated. With no executor in place, something like the name on building insurance documents cannot be updated and can leave a property uninsured!

Another common scenario when you die intestate can fall on your surviving spouse. With no Will in place, all assets will not automatically pass to them as if you have children they are entitled to a percentage of the assets, and they can demand the cash for this which may all be tied up in the family home. Although you may want assets to go to your children eventually, you probably do not want them passed down in this way which can often cause disputes within your family.

Hopefully this article shows how important Will storage is, and that it is essential executors know where a Will is stored. If you do not know where your Will, or the Will of a family member is stored then hopefully this article has given you a nudge to check! If you would like to know more about our Will Storage service then please visit the contact page of our website to get in touch or call 01732 868190 and one of our friendly team will be able to advise.  

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Our Covid-19 policy is now that if you require general information about our Wills, Lasting Powers of Attorney or Trusts then we will carry out a telephone appointment. However, if you wish to give instructions to one of our Consultants we are offering Face to Face appointments from 02 September 2020 in most of the areas we normally cover (subject to Government advice). To see the areas we normally cover please click here.

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