As you have probably heard by now, estate planning is one of the most important things you can do for your loved ones. If you die unexpectedly, you know your assets will go to the intended beneficiaries and that your family will be taken care of. However, even if you have drafted a will, you may be overlooking a few important details. In the event that you need an attorney, like a wills and trusts lawyer Scottsdale, AZ relies on, do not hesitate to contact one to make sure you are in the best position to tackle your case. The estate planning attorneys share some of the common things people forget to put in their will:
Many people make the mistake of only naming one beneficiary in their will. If the beneficiary dies or becomes too sick to deal with the the will, the state will determine who gets what assets. That is why you should name an alternate beneficiary in your will. If something happens to your primary beneficiary, you know that your assets will go to the right people.
A pet is like a member of your family, so you want to make sure it is taken care of if you die before it. It is a good idea to name a caretaker for your pet in your will. Otherwise, your furry friend could end up in a shelter. Before specifying a caretaker in your will, make sure that this person is okay with taking care of your pet.
If you have minor children, it is critical that you appoint a trustworthy and responsible guardian for them. This person could be a family member or close friend. You will have a peace of mind knowing that your children will be looked after if you die unexpectedly.
If you own any websites or online accounts, you should remember to include the usernames and passwords for them in your will. These digital assets can have monetary value and you don’t want them getting into the wrong hands.
Family heirlooms, like photographs and holiday ornaments, may not have high monetary value, but they likely have a lot of emotional value. That is why you should designate who you want to receive these items after you die. If you don’t, it can cause family friction. Family members may argue about who should get what and cause a lot of turmoil.
When planning your estate, do not forget to include these items in your will. Drafting a will can involve a lot of complexities, so it may be in your best interest to work with an experienced estate planning attorney. He or she may help you create a clear and accurate will that includes all of your wishes.
Thank you to Arizona Estate Planning Attorneys for providing their insight and authoring this piece on wills.