A will is one of the most important documents in estate planning. You can draft a will at any stage of your adult life and you can also amend it at any point. One of the key functions of a will is to ensure that your hard-earned savings and assets go to the right people upon your death.
Nonetheless, a will can also serve more complex functions and there are aspects that testators can forget about. Here are some factors that you should not overlook when drafting your will.
Sentimental items
While valuable items and property can be left in a will, some things are more important than money. For example, you may have a collection of family photo albums that aren’t worth much in terms of monetary value, but they mean the world to your children. By including these items in your will, you can ensure that they go to the people who will treasure them the most.
Digitals
Digital assets are becoming increasingly common and they should be included in the estate planning process. For instance, you may have a substantial social media presence both personally and professionally. Who is going to take control of these accounts upon your death?
Perhaps you have been investing in cryptocurrency and other digital assets? Who should have access to the relevant codes and passwords? You can include references to digital assets within the clauses of your will.
These are just two of many factors that should be considered when drafting a will. By seeking legal guidance, you can ensure that everything is covered.
