Oak Shields Estate Planning Limited
Chapel House, Leicester Road
Loughborough, LE11 2AF
Your Legacy, Our Priority.
Where Should You Store Your Important Documents?
Making a Will and a Lasting Power of Attorney can give you ‘Peace of Mind’ however, one of the main concerns after making a Will is where to store your document in order to keep it safe and confidential. According to the National Wills Report 2023, only 18% of people have created a dedicated space for their important documents. The case studies below are examples of what can happen if you do not have sufficient planning and document storage in place.
Losing Documents
Laurie made a Will with Oak Shields in March 2020 and left it in one of her bedroom drawers. In January 2023, Laurie developed dementia and moved into a care home. Due to this, Laurie's Attorney had to sell her house to cover the cost of the care home fees. Laurie thought that she gave her Will to her son to look after and did not make her Attorney aware of the new location of the Will. Her son Michael never received the Will and so it was lost.
Laurie could not make a new Will from scratch as you can
no longer
make a Will if you do not have the
mental capacity to do so. In this situation, your Attorney has to go through a very
costly and lengthy process to make a Will on your behalf.
We would strongly recommend storing your Will with a professional and tell your Attorney the location of your Will in advance.
Family Disputes
Edward made a Will with Oak Shields in January 2023 and brought the document back to his house. Later Lorraine, his granddaughter, came to visit him and saw his Will in the living room. Lorraine discovered that her cousin who never visited her grandad Edward, is entitled to more inheritance than her. Out of anger she told everyone the contents of the Will.
Because of this, the family has entered into endless disputes including threats of legal action, with everyone urging Edward to include them in his new Will.
Your Will is a
confidential document. You have
no obligation to disclose
any details to anyone, especially the distribution of your assets during your lifetime. Placing your Will and other legal documents into professional Document Storage can prevent family members disclosing confidential information. It is unfortunately, a common occurrence that family members look for their elderly relatives' Wills.
Why can't I just keep my documents at home?
Fire and Floods
Natural disasters can cause irreversible damage to your home and your belongings, including your Will and other important documents.
Theft and Burglary
Legal documents are a potential target for thieves and burglars and there is little to no chance of recovering them.
Moving House
Moving house can be a stressful experience and, added to that, many items can get lost or damaged during the move.
Avoid the hardship
Store your important documents with us today, including your Will, Registered Lasting Power of Attorney, Enduring Power of Attorney, Marriage Certificate and Title Deeds etc. Our Document Storage Service can give you piece of mind as well as protection for yourself and your loved ones.
Contact us today for professional advice tailored to your circumstances.
* With effect from 26 July 2023, the amount of Statutory Legacy has been increased from £270,000 to £322,000 under The Administration of Estate Act 1925 (Fixed Net Sum) Order 2023.
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01509 972000
Oak Shields Estate Planning Limited,
Chapel House, Leicester Road,
Loughborough, LE11 2AF
Registered in England and Wales Company Number: 13136605 VAT Registration Number: 370 0679 03 Registered Address: Chapel House, Leicester Road, Loughborough, LE11 2AF
The Society of Will Writers Membership Number: MA6706202/21
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A wholly-owned subsidiary of The Iceni Group Limited.