When you’ve finally taken the time to complete your estate plan, it can feel relieving to know you have accurately reflected your desires and protected the people you care about. Fully executed documents are legally effective immediately; but it can be confusing to know what your next steps should be.

Here we provide a few important “next steps” so that you can get the most out of your estate plan.

1. Store the originals safely

Keep your original documents in a secure but accessible place—such as a fire-resistant home safe or a clearly labeled folder in a protected location. Avoid placing them in a bank safe-deposit box unless someone else has guaranteed access, as this can delay the probate process.

2. Tell your trusted people how to locate your estate planning documents

Make sure your personal representative, trustee, agents, and close family members know:

• That you have completed your estate plan;
• Where the originals are stored; and
• How to access them.

3. Provide copies where appropriate

You may wish to give relevant copies of your estate planning documents to:

• Your healthcare agent
• Your financial agent
• Your successor trustee
• Your primary care physician (for your advance directive)

4. Update beneficiary designations

If  aligning your beneficiary designations was discussed with your estate plan, please contact your banks, retirement plan administrators, life insurance companies, and investment firms to confirm or update your beneficiary forms if you have not done so already. These designations operate outside your will or trust, so keeping them consistent is essential.

5. Review your plan every 3–5 years

Life is full of change. Marriages, births, deaths, relocations, and financial shifts can all affect your plan. Consequently, you should review your estate planning documents every few years or sooner if your life circumstances significantly change. The Cook Firm is always happy to revisit your plan with you.