Mistake Number 5 – Not Telling Your Family Where Your Plan is Kept (Florence Griffith-Joyner)
What’s the point of doing a good estate plan if you intend to keep that plan a secret? The best estate plan is of little value if no one can find it.
When the famed Olympic athlete Florence Griffith-Joyner (aka FloJo) died in 1998 at the age of 38, her family believed she had a will. The problem was they couldn’t find it. Years of legal fighting ensued as Joyner’s spouse and mother disagreed on what was allegedly promised to each of them.
The point being that if you take the time to create an estate plan, you must also make your loved ones aware that you have created a plan and how they can obtain the original or a copy in an emergency.