In this article, we’ll explore will storage.
We'll go through different options for storing a will, including at home, with a solicitor, in a bank safety deposit box, through the government will storage service, and using digital platforms.
Will Storage at Home
Storing a will at home is a straightforward option that many people choose thanks to its simplicity and ease of access. When it comes to free will storage, this is often your only option!
You’ll always know where your will is and how to get to it without having to go through a formal process.
Pros
- Immediate Accessibility: You can access your will at any time without needing to go through a third party.
- No Cost: There are no fees involved in keeping your will at home.
Cons
- Risk of Damage or Loss: Storing your will at home involves risks like fire, water damage, or theft. If the will is destroyed or damaged there is a high risk that it will become void.
- Security Concerns: Without proper safeguards, there's a risk of someone tampering with your will, or losing your will.
Read more: Find a Will in the UK
Storing with a Solicitor
Many opt to store their will with a solicitor for enhanced security and peace of mind, but this generally incurs a fee.
Pros
- Professional Handling: Solicitors will make sure that your will is stored securely and its contents will remain confidential.
- Greater Security: There’s a reduced risk of tampering or loss since wills are kept in secure, access-controlled environments.
Cons
- Potential Costs: There may be a fee for storage if it’s not already included in the drafting service.
- Limited Accessibility: Accessing your will can be restricted to the solicitor’s office hours.
- Limited Safety from Physical Damage: It’s unlikely that your will would be any safer from things like fire damage at a solicitor’s office than at home.
Will Storage at Bank Safety Deposit Boxes
Using a bank safety deposit box offers one of the highest levels of security for storing important documents like wills.
Pros
- High Security: Banks offer secure environments with controlled access, offering the highest protection against physical damage and tampering.
Cons
- Rental Costs: Renting a safety deposit box incurs an ongoing cost that may be disproportionate to what you need - unless you have a large estate or highly contentious will that attracts greater risks than usual.
- Accessibility Issues: Access can be complicated in the event of your death, potentially delaying the executor’s process.
Government Will Storage
Storing your will with the government’s Courts and Tribunals Service provides a secure and official way to keep your will safe.
Pros
- Security: With government will storage, your will is stored securely, protected from loss, damage, or unauthorised access.
- Accessible: You or your dependents can access the will when needed, making it easy to retrieve when it is required.
- Cost-Effective: A one-time fee of £20 covers storage, making it an affordable option.
Cons
- Postal Risks: Sending your will by post introduces risks of loss or damage during transit.
- Process Complexity: The process involves several steps, including mailing and filling out specific forms, requiring more effort than the simpler alternatives.
- Hassle with Changes: If you want to change your will, you’ll have to notify the government and go through the process again to send your new will.
Will Storage Services
Specialised will storage services provide dedicated options for those looking for professional management of their wills.
Pros
- Specialised Features: Many services offer notifications, digital copies, and regular update options, enhancing the management and security of your will.
- Professional Management: These services specialise in will storage, offering expert handling and confidentiality.
Cons
- Costs: There is typically a fee for these services, which can vary depending on the level of service provided.
- Varying Security Levels: Not all services offer the same level of security, so it’s important to carefully weigh up the offering of each service you consider.
Digital Storage Options
Digital storage solutions offer modern convenience by allowing wills to be stored and managed online.
Pros
- Quick Access: Digital storage can provide immediate access to the will, at any time.
- Easy Updates and Backups: Digital platforms make it easy to update your will and store backups, ensuring your latest wishes are always recorded and up-to-date.
- Professional Management: These services usually specialise in storing wills digitally, offering expert handling and confidentiality.
- Cost-Effective: Generally this is an affordable option for storing your will securely.
Cons
- Technology Dependence: This option relies heavily on digital systems, which might be a barrier for those less comfortable with technology.
- Signatures: The latest version of your will needs to be physically signed before it can legally be used.
Storing a Last will – Find the Best Place to Store Your Will
Here's a table illustrating various options for storing a Last Will in the UK, along with their associated costs:
Storage Option | Cost |
---|---|
Solicitor's Office | Varies (typically £20-£100/year) |
Bank Safe Deposit Box | £20-£100/year |
Home (In a safe place) | Free, but risk of loss or damage |
Probate Service (England and Wales only) | £20 one-time registration fee |
Aatos Digital Storage | £99 (incl. creating the Last Will, home delivery, and legal help) |
For the Aatos Digital Storage option, the cost includes creating the Last Will, home delivery, and legal help, offering a comprehensive package for individuals looking for a one-stop solution.
Read more: How to get a copy of a will in the UK?
Digital Copy of Your Will Always at Hand
With Aatos, for just 99 you gain access to digital storage and other benefits.
This includes the creation of all essential legal documents, home delivery of these documents, unlimited revisions and updates, and ongoing legal support whenever you need it.
Be prepared, be carefree!
Safely Storing a Will
Picking the best place to store your will means thinking about what you need personally, how secure it has to be, and how easy it is for the right people to get to it when needed.
Digital Storage Services like Aatos are great because they don't just keep your will safe - they also make it easy to update and back up. Plus, they work well with other tools you might use for planning your estate.
Whether you go with a classic method or a modern digital option, making sure your will is both safe and easy to access is a key part of good estate planning.