There are a lot of details to account for in an estate plan. So, it’s no wonder that sometimes things are forgotten. Here are some of the more common things people unintentionally leave off of their will.
Furry friends
Sometimes pets outlive their owners. But, if that pet isn’t accounted for in a will, it can be difficult for beneficiaries to know how to handle the situation.
When updating your estate plan, it’s a good idea to detail who should take care of your pet if anything should happen to you. Additionally, some pet owners may also volunteer a small portion of their estate to go toward pet expenses, such as food, grooming, medical care and more.
Intangibles
The internet has become an integral part of most American’s lives. With it, many people have acquired digital assets and accounts. Whether these accounts are used to store books, be social or pay bills, sharing them with your beneficiaries can have many benefits.
However, you may need to work out how usernames and password can be safely relayed by using the help of an estate planning attorney.
FDA regulated assets
If you have any firearms — whether they be for sport, novel or collection — it’s important to use your estate plan to transfer them properly. Beneficiaries who are underage or live in different states may otherwise run into issues while trying to recover the assets through probate.
It’s important to account for all of these important assets in a way that is safe, secure and clear.
