Records
Keeping your binder secure: where to store it and who gets access
Safe enough to protect it. Easy enough for family to find.
A binder full of account details needs some protection. But a binder no one can reach doesn't help either. Most families look for a middle ground.
Common places people keep it
| Place | Upside | Watch out for |
|---|---|---|
| Fireproof home safe | Protected, easy for family to reach | Someone needs the code or key |
| Locked file drawer | Simple and cheap | Not fire- or flood-proof |
| Bank safe deposit box | Very secure | Family may not be able to open it quickly after a death; rules vary by state and bank |
| With a trusted relative | Off-site backup | They need to keep it safe too |
Who usually knows
Many people tell one or two people where the binder is and how to get to it: often the executor, a spouse, or an adult child. Telling them now saves them a search later.
Digital copies
If the templates are kept in Google Drive, the Drive account becomes part of the plan. Many people share the folder with one trusted person, or make sure that person can get into the account through Google's Inactive Account Manager.
Good to know
A short note on the first page of the binder, saying where the originals are kept, helps whoever opens it.