Estate Planning - Does Your Filing System Make Sense

Estate Planning - Does Your Filing System Make Sense

By Melinda Gustafson Gervasi

June 14, 2021

What makes sense to you today does not mean it will make sense to others or even to yourself a few years down the road.  This is problematic for your important documents, including your estate plan.  A half-dozen years or so ago I answered my phone to hear a client having a mini-panic attack.  We had worked together a year or two prior, and now the client simply could not find the estate plan we had created.

"I looked EVERYWHERE!  It's not under A for Attorney.  It's not under E for Estate Plan.  And it's not under W for Will!  I guess I am going to need you to redraft everything for me......"  With a sigh the client scheduled a meeting for the following week.  Fifteen minutes later the client called back, this time with joy.  "I found it! It was under D for Death!!!!"

Here are a few take-aways from that client call:

1. Not being able to find your powers of attorney or will is the equivalent of having no plan.  You really should know where the documents are, specifically originals;
2. A filing system that makes sense to you will not necessarily make sense to the people who will need the documents.  Once you have your plan in place, share essential details with those you have nominated in the paperwork.  Sometimes this means giving copies to those named; and 
3. What makes sense to you today may not down the road.  Illness, grief, dementia, a decade of not looking for the papers are all a few of things that may delay or prevent you from locating the documents when they are needed.

In law school I was told to write a brief as though a 12 year old were reading the filing.  Why?  Judges need to read something quickly and pull out the key concepts.  I suggest the same approach when organizing and maintaining your estate plan.  These documents will most likely be needed during a severe illness or death. This is a time of stress and grieving.  Not everyone will be thinking as clearly as they might be on a beautiful, uneventful day in June.  They will be operating in storm-like conditions. Keep it simple and to the point.  Place it in a logical place.  And when it doubt, give your system a trial run with a trusted 12 year old in your life.

The more organized you are with  your estate plan, the less stress, time and expense you and your loved ones will face during an illness or death.  Follow my Blog Series: Your Compass as I help you navigate organizing and maintaining your estate plan.  

Which Way?  Image by M. Gustafson Gervasi, 2021

Thank you for reading. Please note that a blog is not legal advice nor is it your attorney.  A blog is meant to spark though and discussion, nothing more.  I urge you to seek legal advice from a licensed attorney in your home state specific to your life situation.