Most people already know that a will covers the basics, like who gets the house, investments, and that sentimental antique ring that’s been in the family for six generations. But what many don’t realize is that a will is about far more than just possessions. It can address a surprising range of concerns that profoundly affect the lives of those left behind.
Unfortunately, forgetting seemingly small but essential details could lead to accidental consequences, family feuds, and logistical nightmares after you’re gone. Even well-intentioned people make oversights, leaving their loved ones tangled in legal red tape when they’re trying to mourn.
Wills aren’t exactly easy to read, and it’s normal to get overwhelmed. So, let’s consider some commonly overlooked items that absolutely deserve a place in your will, ensuring your final wishes are carried out the way you intend.
1. Digital Assets: Not Just Photos and Playlists
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Digital assets include online accounts, social media profiles, cryptocurrency, and e-commerce stores you run. Anything existing only in the virtual world requires instructions. Otherwise, accounts could languish or, worse, be closed permanently.
Appoint a “digital executor” to handle these assets. List logins (stored SECURELY), and whether you want accounts memorialized, closed, or data passed to specific heirs. This isn’t just sentimental; it could prevent the loss of valuable business assets.
2. Pets: Fido’s Future
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Sadly, pets are often forgotten in wills. This means shelters or well-meaning family members scrambling to care for an animal they’re ill-equipped to handle. Avoid this heartbreaking situation for your beloved companion!
Designate a guardian and, ideally, a backup or two. Discuss this with them in advance! Leave money for pet care, which will add to the peace of mind of the person taking on this responsibility.
3. Heirlooms with High Emotional Value
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Grandma’s china might be worthless in dollars, but priceless to certain family members. Misunderstandings about who gets seemingly minor things cause huge rifts. Save your loved ones the heartache.
Specificity is key! This IS the place to get granular. “My Tiffany-style lamp goes to Sarah” beats vague “all jewelry to my daughters” invites. Talk to your family about anything you own that they might have a specific attachment to that you didn’t realize.
4. Letters of Explanation
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A will is mainly for legal distribution stuff. But sometimes, you need to express WHY you made certain choices. Maybe one child is getting less due to a lifetime of financial help you provided.
This doesn’t go IN the will itself (which becomes a public record) but as a separate letter referenced by the will. It minimizes hurt feelings and potential legal challenges based on perceived unfairness.
5. Funeral Instructions: More than Just Burial vs Cremation
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Do you want a religious service, a celebration of life, or to be cremated and scattered somewhere meaningful? Specifics spare your family the anguish of guessing your wishes while drowning in grief.
If costs are a concern, prepaying for some arrangements can lessen that burden. Detailing this in your will guides your family on using any funds set aside for final expenses.
6. Guardianship of Minor Children: It’s Not Automatic
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The most gut-wrenching decision of all! If unthinkable tragedy strikes, who raises your kids? Never assume family will automatically step in – legal guardianship is necessary if that’s your desire.
Talk to potential guardians BEFORE naming them in your will. Responsibilities and financial considerations should be openly discussed, ensuring your children’s well-being on every level.
7. Beneficiaries with Special Needs
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Simply leaving money outright could disqualify a loved one with a disability from crucial government benefits. Special Needs Trusts provide for their care without that unintended negative consequence.
This requires an attorney specializing in these trusts. It’s more complex than standard inheritance, so including the right provisions in your will is paramount to protecting your loved one’s long-term security.
8. Business Succession: Beyond Who Inherits the Company
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If you own a business, be very specific with your wishes. Is the goal to sell? Should a key employee take over? Do you want a child to continue the family business, even if they aren’t yet qualified? A will can outline this transition.
Lack of planning can DESTROY the value of what you built. Work with a business lawyer while you’re able, so the instructions in your will ensure a smooth continuation, not chaos.
9. “Shotgun Clauses” for Shared Property
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Maybe you co-own a vacation home with siblings. If one of you dies, friction arises if their heirs suddenly become co-owners. A “shotgun clause” forces a buyout for fairness, but at fair market value.
It sounds harsh, but it preempts feuds. Specify how the value is determined (appraisal, etc.). This applies to jointly owned business assets, too, saving partners from messy entanglements with their heirs.
10. Disinheriting Someone: It Takes More than Just Omitting Them
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Intentionally cutting someone out requires specific wording, or they could contest the will. Harsh as it sounds, stating your reasons clearly limits the chances of a successful legal battle by a disgruntled heir.
“No contest” clauses are worth exploring with your lawyer. If heirs challenge the will and lose, they forfeit ANY inheritance. This discourages frivolous lawsuits.
11. Marriage and Divorce
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In most states, marriage doesn’t automatically void an old will. However, it CAN cause confusion. Divorce presents even more complexities, as your ex might still be entitled to inherit if the will wasn’t updated.
Review (and likely revise) your will immediately upon any change in marital status. It’s not romantic, but it protects everyone involved and ensures your wishes are honored.
12. The Birth of New Family Members
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Maybe it’s a child, a grandchild, or even new stepchildren you become close with. Don’t forget to add them to the will or update guardianship designations if circumstances warrant a change.
“Per stirpes” vs. “per capita” matter here. These legal terms affect how assets are split if a beneficiary dies before you. An attorney can clarify which best suits your family dynamics.
13. Your Executor Passes Away (or Becomes Incapable)
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The person you entrusted to carry out your will may no longer be able. Designating alternates, as life happens, ensures this vital role is always filled by someone competent and willing.
Talk to your chosen executor regularly to make sure nothing in their life might prevent them from fulfilling their duties when the time comes.
14. Changes in Financial Situation
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A surprise inheritance or major investments paying off (or flopping) can affect how you want assets distributed. Bequests of specific dollar amounts could cause problems if the value of your estate drastically changes.
Using percentages instead of fixed amounts adds flexibility. However, if assets are complex, regular updates may still be wise to avoid confusion after you’re gone.
15. You’ve Moved to a New State
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Estate laws vary. A will valid where you wrote it could be contested elsewhere if it doesn’t meet the new state’s requirements. Having it reviewed by a local lawyer catches those crucial differences.
This is especially important if you are moving to a state with “community property” laws, as these laws drastically impact what you can independently bequeath.
16. Witness Woes
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Most wills need 2 witnesses, who cannot be beneficiaries. If they die, move away, or your relationship sours, your will COULD be invalidated, even if everything else is perfectly written!
Choose young-ish witnesses unlikely to predecease you. Keep their contact info updated, in case their testimony is needed to defend your will against future challenges.
