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5 items many people forget in their estate plans

On Behalf of | Mar 1, 2022 | Estate Planning |

Everyone’s estate plan is different, so it can be a little tricky to decide what you want to include in yours. While some people may have many assets to protect, others may not. Some may want to leave behind inheritances while others want to donate.

Regardless of your situation, there are some different things to remember to discuss and include in your estate plan. The following are five that are commonly overlooked.

  1. Membership information

One thing to include in your estate plan is any membership information you have for clubs or online services. Include your username, password and information on annual, monthly or irregular payment schedules.

  1. Digital assets

You should include your digital assets in your estate plan. Things like cryptocurrency or NFTs should be included along with information on how to access them.

  1. The attorney’s information

If someone finds your will and estate plan but doesn’t know who to contact about it, then that could be problematic. Talk to the person you want to have as your executor to be sure that they can reach your attorney and that your attorney is familiar with them as well. Include your attorney’s information, like their address and phone number, so your family can easily contact them after you become incapacitated or pass away.

  1. Information about keys

Do you have a collection of keys? Others may not know what they go to. It’s a good idea to include a list, so your family knows which keys will unlock lockboxes, garages, storage units or other items.

  1. A letter of instruction

Finally, consider including a letter of instruction in your estate plan. This can go over what you want to see happen with the estate, how you would like property to be passed on and other topics you’d like to discuss. Leaving behind this kind of letter may help your family avoid conflicts or misunderstandings.

These are five items that people tend to leave out of their estate plan accidentally. It’s smart to go over unusual additions like these and to make sure that you leave as much information for your loved ones as you can to help them.