Many people who are creating an estate plan focus on their physical assets like their home and vehicle. While it’s true that those are the primary concern for an estate plan, there are other considerations that you need to think about whey you’re making the plan.
There are many non-physical assets that you need to think about. Some of these may have payable-on-death designations but others need to be included in your estate plan.
Making sure that each of these is covered helps ensure that they will go where you intend when you pass away. Just make sure that any beneficiary designations listed on them match the beneficiaries you list in your estate plan
Financial accounts
Your financial accounts, including retirement accounts, need to have a home when you pass away. Making sure that you have these designated to go to someone is important. You also need to think about insurance policies and ensure you have the right beneficiaries set for those.
Online accounts and memberships
Online accounts and memberships may be able to be passed down to others, so be sure you provide the information for these accounts to the person you want to have them. Some memberships might also have benefits, such as accidental death benefits, that can help your loved ones.
A comprehensive estate plan is critical so you know that your loved ones are taken care of. This includes being able to pass down non-physical assets that are important to you. Having experienced legal guidance can give you peace of mind that you’ve provided for them.