• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset & Business Planning
    • Dental Practice Law
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Medicaid and Elder Law
    • SECURE Act
    • Special Needs Planning
    • Trust Administration
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Carmel, Indiana Elder Resources
        • Fishers Indiana Elder Law Resources
        • Greenfield, Indiana Elder Law Resources
        • Greenwood Elder Resources
        • Indianapolis Elder Law Resources
        • Lawrence Elder Law Resources
        • Plainfield Elder Resources
        • Zionsville Elder Law Resources
    • Estate Planning
      • Estate Planning Checkup
      • Estate and Gift Tax Figures
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
        • Business Succession Planning
      • Elder Law
        • Medicaid
        • Medicaid Planning
        • Planning for Long-Term Care
      • Estate Planning
        • Avoiding Estate Taxes
        • Frequently Asked Questions for Families Without an Estate Plan
        • LGBTQ Estate Planning
        • Women and the Need for Estate Planning
      • Financial Planning
      • Incapacity Planning
      • Legacy Wealth Planning
      • Pet Planning
      • Probate
      • Power of Attorney
      • Trusts
        • Trust Administration
        • Trust Administration
        • Serving as Executor
      • Wills
        • Contesting a Will
    • Newsletter
    • Pre Consultation Form
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss Of A Loved One
      • Probate Resources
        • Carmel, Indiana Probate Resources
        • Greenfield Probate
        • Greenwood Probate
        • Indianapolis Probate
        • Plainfield Probate
        • Indiana Probate
        • Zionsville Probate
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Areas We Serve
    • Boone County
      • Lebanon
      • Zionsville
    • Hamilton County
      • Carmel
      • Fishers
    • Hancock County
      • Greenfield
    • Hendricks County
      • Brownsburg
      • Plainfield
    • Johnson County
      • Franklin, Indiana
      • Greenwood
    • Marion County
      • Central Indiana
      • Indianapolis
  • Blog
  • Contact Us

Frank & Kraft, Attorneys at Law

Indianapolis Estate Planning Attorneys

CONNECT WITH US TODAY(317) 684-1100

Attend a Free Workshop
Home » What Should I Do with My Estate Planning Documents?

What Should I Do with My Estate Planning Documents?

May 11, 2021Estate Plan

When the importance of estate planning is discussed, the focus is usually on choosing goals and deciding which tools and strategies to use to achieve those goals.  People rarely discuss what you should do with your estate plan once it is complete. The Indianapolis estate planning attorneys at Frank & Kraft stress the importance of the steps you take with your estate plan after it is finished.

What Is Included in a Comprehensive Estate Plan?

The estate plan you create will be as unique as you are. While there are a number of common estate planning goals, the goals and objectives you choose to include in your plan will likely differ from those included in the estate plan of your friends and neighbors. Consequently, the documents and tools that you use to help achieve your estate planning goals may also not be the same as those found in another plan. Nonetheless, there are some common tools and strategies that are likely to be included in your estate plan, such as:

  • Last Will and Testament 
  • Trust agreement 
  • Advance directive 
  • Life insurance policy
  • Letter of Instruction
  • Power of attorney
  • Financial records 
  • Deeds, titles, and other ownership documents
  • Pre-planned funeral contract
  • List of assets and accounts

Common Mistakes

Once your plan is complete, you do not want to make any of the common mistakes people make with that plan. The first common mistake is to do nothing.  People make this mistake because they labor under the mistaken belief that once the documents are executed and organized, the estate planning process is over. Another common mistake is to take your estate planning documents and put them in a safety deposit box. It can be a good idea to put some estate planning documents in your safety deposit box, but not all of them. Specifically, you do not want to put your original Last Will and Testament in your safety deposit box because, after your death, the only person who will be allowed access to the box is the Executor of your estate. The problem is that the only way for the individual you appointed to be your Executor to prove that he/she is the Executor is with the original Will – the Will that is in the safety deposit box. It becomes a circular dilemma without a simple solution.

What Should You Do with Your Estate Planning Tools and Documents?

The steps you take after your estate plan is complete should always be discussed with your estate planning attorney given that he/she knows you and your plan well; however, there are some common suggestions you may wish to consider. At the top of that list is giving your Executor an original copy of your Last Will and Testament along with copies (or originals) of all other important documents. Likewise, if you have included a trust in your plan, your designated Trustee should have an original copy of the trust agreement. Whether you provide beneficiaries of your Will/trust with copies is up to you. If you executed advance directives, give your designated Agent a copy and provide close loved ones with a copy of your state’s version of a living Will. Some states also allow you to register advance directives with the state. Agents appointed in a power of attorney should also be given an original copy of the POA agreement. Make a couple of copies of ancillary paperwork, such as financial statements, asset lists, and ownership documents and give a set of copies to a trusted family member or friend, keep one in a safety deposit box or fireproof safe at home, and the last set of copies to your Executor. Finally, your estate planning attorney should retain copies of all documents included in your estate plan and should also keep an original copy of your Last Will and Testament and any trust agreements.

Contact Indianapolis Estate Planning Attorneys

For more information, please join us for an upcoming FREE seminar. If you have additional questions or concerns about your estate plan, contact the experienced Indianapolis estate planning attorneys at Frank & Kraft by calling (317) 684-1100 to schedule an appointment.

  • Author
  • Recent Posts
Paul A. Kraft, Estate Planning Attorney
Paul A. Kraft, Estate Planning Attorney
Paul Kraft is Co-Founder and the senior Principal of Frank & Kraft, one of the leading law firms in Indiana in the area of estate planning as well as business and tax planning.

Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.
Paul A. Kraft, Estate Planning Attorney
Latest posts by Paul A. Kraft, Estate Planning Attorney (see all)
  • How to Recognize Nursing Home Abuse - August 4, 2022
  • Do You Have the Right Type and Amount of Life Insurance? - August 2, 2022
  • The Problem with Relying on the Unlimited Marital Deduction - July 28, 2022

Other Articles You May Find Useful

Indianapolis estate planning attorney
Leaving a Legacy of Charity
What Is Included In My Indiana Estate Plan
Free Report: What Is Included In My Indiana Estate Plan

Primary Sidebar

Frank & Kraft, Attorneys at Law

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube

Blog Subscription

Where We Are

Frank & Kraft Attorneys at Law
135 N. Pennsylvania Street Suite 1100
Indianapolis, IN 46204-2485
Phone: (317) 684-1100
Fax: (317) 684-6111

See Larger MapGet directions

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM
Friday8:00 AM - 5:00 PM

Map

frankkraft_sidbr_map

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
footer-logo

Frank & Kraft Attorneys at Law
Attorney Advertisement

© 2022 American Academy of Estate Planning Attorneys, Inc.

© 2022 · American Academy of Estate Planning Attorneys, Inc. | Disclaimer | Privacy Policy | Sitemap | Contact Us