Creating a will is essential, but it’s easy to overlook some important details, including digital assets and family traditions, which many people often forget. Here’s a list of 18 commonly forgotten items in wills, to ensure your wishes are fully covered and loved ones protected.
Digital Assets
In today’s digital age, many forget to include digital assets in their wills; Investopedia lists digital assets to include “data, images, video, written content, and more.” It’s crucial to specify what happens to these accounts; include a list of passwords and detailed instructions on how you’d like these accounts managed.
Pets
Pets are family too—many people forget to make provisions for their furry friends in their wills. Specify who will take care of them and leave funds to ensure your beloved pets are well taken care of after you’re gone, and you might want to include any special instructions.
Sentimental Items
Items with sentimental value often get overlooked when writing a will, too: think about family heirlooms, keepsakes, or items with personal significance. Make sure to list who should receive these cherished belongings to avoid family disputes. These items might not have high value, but their emotional worth can be immense.
Passwords
Bank accounts and social media are just some examples of why passwords are vital in managing your digital life. Ensure you leave a secure, updated list of your passwords and usernames. This will save your loved ones a lot of hassle and help them manage your digital accounts smoothly.
Personal Letters
Writing personal letters to loved ones is a heartfelt gesture that many forget to include in their wills; these letters can provide comfort and closure, expressing your final thoughts, feelings, and wishes to those you care about most, and they can be a way to share personal memories.
Funeral Wishes
It’s easy to overlook specific funeral wishes when planning a will, but you should make sure to detail your preferences, whether it’s burial or cremation, type of ceremony, or even specific songs or readings. This helps your family honor your memory in a way that reflects your wishes.
Charitable Donations
If you wish to leave a portion of your estate to charity, make it clear in your will. Specify the charities and the amounts you want to donate, because this ensures your philanthropic desires are carried out as you intended. Including these details helps support causes that matter to you.
Backup Executor
Naming a backup executor is crucial in case the primary executor is unable or unwilling to serve—a backup ensures there’s someone else you trust to handle your estate smoothly and according to your wishes. This extra layer of planning helps prevent delays and complications.
Guardians for Minor Children
Many forget to name guardians for their minor children in their wills, too, so you’ll want to ensure you choose someone you trust to take care of your kids if something happens to you. This decision is vital for their future well-being; discuss your choice with the potential guardians first.
Business Interests
If you own a business, it’s important to outline what should happen to it in your will. This could include who should take over, or if it should be sold; clear instructions prevent confusion and help ensure the continuity of your business, and you might want to consider succession planning.
Beneficiaries’ Full Details
Be precise about your beneficiaries in your will: include full names, addresses, and your relationship to them to avoid any confusion or disputes among your heirs, ensuring your assets go to the right people. Providing clear details helps the executor of your will to locate and distribute assets accurately.
Instructions for Personal Belongings
In terms of personal belongings, specific instructions can prevent disputes among your loved ones if you detail who should receive what, whether it’s jewelry, furniture, or other personal items. Clear guidance ensures your belongings are distributed as you wish, and this can also help to keep the peace.
Taxes and Debts
Addressing taxes and debts in your will is important to ensure your estate is managed properly. Specify how these should be handled and from which part of your estate they should be paid. This clarity helps in managing financial obligations after your passing, ensuring that your assets are distributed properly.
Updates to the Will
Regularly updating your will is often forgotten but very important—life changes, after all, and so might your wishes. Make it a habit to review and update your will periodically to reflect any new circumstances or decisions, because significant life events like marriages or births can all necessitate changes.
Family Traditions
Include instructions for any family traditions you’d like to see continue in your will, too; this could be anything from holiday gatherings to special celebrations. Preserving these traditions can provide comfort and continuity for your loved ones. By specifying these wishes, you help maintain the family bonds.
Organ Donation Wishes
You’ll want to state your wishes regarding organ donation clearly in your will, too, as this makes sure your desires are known and respected, potentially saving lives. Include information about any specific organs or tissues you wish to donate, and consider registering with an organ donor organization.
Digital Photos and Videos
Digital memories are precious and often forgotten in wills, especially prized photos, so you should specify what should happen to your digital photos and videos. Whether you want them passed to specific people or stored safely, make sure these digital legacies are preserved.
Storage Unit Contents
Last but not least: if you have a storage unit, list its contents and who should receive them in your will. Provide access details, including the key or combination. This guarantees that stored items are not forgotten and distributed according to your wishes, and clear instructions can help avoid any issues.
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