Vital Things to Include in Your Estate Plan You Might Not Think About
Creating an estate plan is helpful and necessary. When you die, this plan gives your family the instructions and information they need to settle your estate. While most people who create estate plans include several vital details, some forget to include other things. Here are several vital things you might not think to include in your estate plan.
Your Final Wishes
You might assume that your family knows if you want them to use cremation or burial, but they might not know. They might assume you want them to cremate you, but you really might want burial. If you write down your wishes in your will, they will have clear instructions that state what you want them to do. When they read these things, they must legally follow your wishes.
Additionally, do you have specific requests for how they handle your service? Do you want a service? If so, where do you want it to take place? Do you have requests for the service? If you do not write these things in your will, they might not know that you wanted these things. Therefore, writing these things in your will helps your family know what to do when you die.
Your Passwords and Accounts
Next, it might be helpful to write down your passwords in your estate plan. Because passwords change from time to time, you might need to keep a list of passwords in your home. You can tell your family where they can find the list, and you can write this in your will. If your will tells your family where to go for this information, they will know where to look.
The purpose of telling them your passwords is to give them access to your things. For example, if no one knows your cellphone's password, no one will be able to access it after you die. The same is true for your computer and your accounts. Therefore, keep a list of passwords for these things and let your family know where to find the list.
Most people include beneficiaries in their wills, but they might not clearly express how to divide the things to these individuals. Make sure your will has a clear plan for your beneficiaries to guide them after your death.
If you need more advice about estate planning, talk to a lawyer. A lawyer can provide you with more tips and advice to help you create a thorough estate plan.