How to Safely Store Your Financial and Legacy Documents

Properly storing your estate planning documents and personal information is one of the most important steps you can take to protect your legacy and make life easier for your loved ones.

Your plan should include more than just your will — you’ll want to securely store:

• Living wills, powers of attorney, and medical directives
• Trust documents and beneficiary designations
• Birth certificates, marriage licenses, and divorce decrees
• Property titles, deeds, and vehicle registrations
• Financial records, account numbers, and recurring bill information
• Digital asset information (computers, phones, social media, online storefronts, subscription services, passwords)

Having these documents organized and easy to access helps your survivors manage your affairs quickly and prevents delays, disputes, or overlooked obligations.

Choosing Where to Store Your Documents

There are several ways to safely store your estate planning and financial documents, and many families use a combination of these methods:

• Paper storage: Keep originals in a fireproof home safe or bank safe deposit box.
• Digital storage: Scan and store digital copies in the cloud or on encrypted external drives.
• Hybrid approach: Maintain paper copies of key legal documents and digital copies of everything else for quick access.

The choice comes down to how much time you want to invest in maintaining your system and how comfortable you are using digital tools.

Going Paperless for Convenience

Many people choose to go as paperless as possible. This approach can be:

• Convenient: Your documents are accessible anywhere with internet access.
• Organized: You can categorize and label files for quick retrieval.
• Safe: Encrypted storage protects your data from fire, flood, or theft.

However, going fully digital can present challenges. If your family doesn’t know where your files are stored or doesn’t have the passwords, they may struggle to find what they need. As finance columnist Liz Weston has noted, “Your frequent flier miles could disappear while your Netflix subscription continues indefinitely.”

The Importance of Updating Your System

Your document list will change as your life changes.

• A younger individual with children likely has more financial accounts, subscriptions, and obligations than someone who has been retired for years.
• Downsizing, selling property, or simplifying your financial life should also trigger updates to your document storage plan.

Make it a habit to review and update your stored information at least once a year — or after major life events such as a marriage, divorce, birth, or death in the family.

Safely Storing and Sharing Digital Information

Create Digital Copies

Scan key documents such as Social Security cards, passports, and driver’s licenses. While scanned copies aren’t legal substitutes for originals, they make replacing lost or stolen documents much easier.

Store Originals Securely

Keep original hard copies of critical documents — such as wills, powers of attorney, and property deeds — in a fireproof safe or bank deposit box.

Use Secure Digital Storage

Popular and user-friendly cloud storage services include:

• Microsoft OneDrive
• Google Drive
• Apple iCloud

These platforms offer free storage options and the ability to upgrade for more space.

Local Storage and Backup Options

If you prefer to store documents locally:

• Use an external USB hard drive (1–2TB recommended) for backups.
• Set up automatic backups — Windows File History or Apple Time Machine make this easy.
• Keep a duplicate drive in a fireproof safe or safe deposit box for extra security.

USB flash drives can also work for smaller amounts of data and are portable if you travel.

Don’t Forget Passwords and Access Information

Even the most well-organized system won’t help your loved ones if they can’t get into it. Make sure to:

• Document usernames, passwords, PINs, and key security answers
• Include instructions for accessing online accounts, digital wallets, and subscription services
• Share this information securely with a trusted person or store it in a password manager with emergency access enabled

Get Professional Guidance

If you’re unsure how to organize and store everything, talk with an estate planning attorney, accountant, or trusted advisor. They can help you:

• Identify which documents are essential
• Decide whether a digital, physical, or hybrid approach is best
• Ensure your system is legally sound and easy for your heirs to use

Services like Everplans can also help you create a digital vault for your documents, share access with family members, and keep everything updated.

Take the Next Step

Properly storing your estate planning documents and financial information is one of the best gifts you can give your loved ones.

Call us at (207) 848-5600 or visit our Contact Page to discuss how to set up a secure, organized document storage plan that protects your legacy.