Estate plans can seem overwhelming and with good reason. There’s a lot to address in these documents, and it can be easy to overlook important details.
In fact, many people overlook details when writing their estate plan, and a few common ones include:
The well–being of their pets
Too often, people assume that their pets will be adopted by a family member or a friend without ever discussing it. This can lead to uncomfortable situations where families argue over an unwanted animal and the costs associated with it.
It doesn’t have to be that way. If possible, identify the person you want to care for any pets and include the designation in your estate plan. Make sure you name the person, and if possible, cover some of the expenses for caring for the animal.
You can also set up a trust for your animal if you’re worried the cost of caring for them is going to be too expensive.
Someone’s digital legacy
Not many people realize how important our digital possessions have become. Families are often stuck trying to piece together how to manage a person’s digital assets, without having a clear idea of what is even available to them.
Occasionally, sentimental valuables like pictures are inaccessible because they cannot get into a personal computer or online account.
When creating an estate plan, have a directive for what happens with your online profiles. Keep your important passwords in one place, like a safety deposit box or a safe. Designate what you want to be done with your online presence.
Don’t leave your family to figure it out for themselves.
Making funeral arrangements
One of the most practical issues is also frequently glossed over. You should define what you want at your funeral. Many times, people have a vision for what they want their remembrance to be but never take the time to write it out.
Families want to honor the wishes of their loved ones. This is made much easier by having a funeral or celebration of life directive.
Creating a thorough estate plan for you and your family
A conclusive plan gives everyone peace of mind. You know you’ve taken care of your family and loved ones, and they know how to best honor you after passing.
To start the process, or if you have any questions, a skilled estate planning attorney can be a valuable resource.