What Should Be Included in Estate Planning?

Working out the details of your estate is something that you need to put a lot of time and effort into working out every little detail. A lawyer is always your best bet, but you still need to think about what it is that you need to include and how you want to divvy things up. What should you be thinking about when you put together your will?

Any Property You Own

What sort of property do you own? This doesn’t just mean homes, even though they definitely need to be included in your estate. This includes everything you own, from vehicles, to knickknacks, and everything in between. You want to have a solid inventory of the things that you feel need to be included in your will and estate, and try not to miss anything. That way, your executor is able to just execute your wishes and allow your family to work through their grief.

Any Accounts You Have

Bank accounts, savings accounts, life insurance accounts, and any other accounts that have some sort of cash value should also be accounted for when you’re putting together your estate. You want your family members to be able to access any accounts so that they can take care of things like your funeral, gravestone, and whatever else that they may need to pay for during this time. Otherwise, the accounts will go to probate, be used to pay off any debts, and then your family will not have much to work with.

Any People or Animals Involved

Lastly, if you’re a parent, you may be thinking about guardianship for your kids. Or, you may have pets that you know will need to be taken care of after you’ve gone. No matter who or what is in your care, you want to be sure that you take the time to include them in your will and estate planning. It can prevent some real difficult situations and help your family members to be taken care of better.

It can be scary to start looking at these things, but as you get more comfortable with these situations and work out what it is that matters most to you, you will be sure to find a lot of different things that you can to do to help provide for your family after you’ve gone. Talk with your lawyer and see how they can assist you through this process.