As your life changes, the contents of your will should change with it. After all, you want to ensure your assets are secure and your heirs are taken care of. But, there are some things that might be easy to forget about as you create and draft your will. Here are four areas to consider when that time comes.
1. Leave funeral instructions elsewhere
While it may seem like a good idea to include funeral plans in your will, it isn’t the best place to clarify your wishes. Often, the contents of your will are not made known until after your funeral takes place.
Instead, write your instructions in a separate letter or document to give to a family member or friend. You can also have a detailed discussion with your loved ones about your funeral. Doing this can help your family prepare to carry out your wishes.
2. Include intangible assets
Assets such as properties and personal belongings are among some of the physical assets you will want to include in your will. But don’t forget about immaterial assets like bank accounts, bonds or stocks. You might even have personal online accounts you wish to leave to a family or friend, so it’s important to include login information and pass-codes in your will as well.
3. Find a new home for Fido
Your pet might be just as important to you as your other family members. You should consider leaving care instructions for them in your will so that they receive the care they need when you’re gone. Ask a friend or family if they’re willing to adopt your pet. You can even set up a pet trust for them so their new caregiver can afford to provide for them.
4. Plan for life, not just death
While wills are often associated with death, they can also be helpful while you’re still living. Unexpected heath conditions like dementia can take away your ability to express your wishes. So, you can include a care-giving plan in your will. This might detail who you’d like to care for you and how you wish for them to do it. Planning for life events is a helpful way to ensure a more secure future for yourself.
Life can be unpredictable. It’s always a good idea to revisit your will as life around you changes so that you don’t forget anything important. Staying on top of these revisions and additions can prepare you for the future and bring you and your family peace of mind.