An estate plan has so many components that sometimes it can be hard to keep track of every important element. Smaller details can easily slip your mind, especially if there are more pressing matters to focus on. When creating your will, however, it’s important that you think of all possible provisions so that your family can avoid disputes, fights and tension when it comes time to distribute your estate.
Here are just three important things to remember to include in your will.
Backup beneficiaries
You can never predict what may happen to one of your beneficiaries. That’s why it’s important to name an alternate beneficiary or two in case your first choice passes away or is otherwise unable to receive their inheritance. With a second beneficiary in place, you can ensure that your assets go to the people you want them to go to.
Pet caretakers
Many people either forget about their pets or assume that someone will take them. However, if you don’t explicitly list any provisions or instructions in your will regarding your pet, they could end up in a shelter.
Talk to family members or friends to see if any of them are willing to adopt your pet before listing them as your pet’s caretaker. By doing this, you can find a new home for your beloved pet should you pass before them.
Online assets
In this day and age, many people have online accounts. While some accounts are merely social media sites, other ones are valuable and hold personal or important information. Make sure to include your online account information in your will. This includes things like passwords, usernames and email addresses. Remembering to leave these details with people you trust can ensure that your personal information will be in good hands when you’re gone.
Making sure that your will is complete and sufficiently detailed can be a lot of work, but it’s usually worth it. When you have all the important aspects covered, you can rest easy knowing your assets are safe and that your family’s future is secure.
