Clay Leger
When it comes to preparing a Will, most people focus on the big-ticket items—dividing assets, appointing executors, and naming beneficiaries. However, there are several lesser-known but equally important inclusions that can make a significant difference to how smoothly your estate is handled after your passing. A well-rounded Will goes beyond just your bank accounts and property; it reflects your wishes, protects your loved ones, and provides clarity during a difficult time. Here are some often-overlooked considerations to include in your Will.
Contents
Digital Assets and Online Accounts
In today’s world, your digital presence is as much a part of your estate as your physical belongings. Think about your email accounts, social media profiles, cryptocurrency wallets, online subscriptions, and even digital photo libraries. You can name a digital executor or specify in your Will who should have access to these accounts and how you would like them handled—whether that’s memorialising, deleting, or transferring ownership.
Sentimental and Personal Items
It’s easy to focus on monetary value, but personal possessions like jewellery, family heirlooms, war medals, or handwritten letters often carry emotional significance. Without clear instructions, these items can become the source of disputes. Use your Will to list specific personal items and who they should go to. Even a simple handwritten note attached to your Will (legally recognised in many cases) can prevent confusion and hurt feelings.
Funeral and Burial Wishes
While these wishes aren’t legally binding in a Will, including guidance can ease the burden on your family. Specify whether you’d prefer to be buried or cremated, what type of service you’d like, and any personal touches such as music, readings, or attire. Better still, communicate your preferences to your family in advance, and include a reference in your Will for clarity.
Care of Pets
Your furry (or feathered) companions are family too. Your Will should name a trusted person to take custody of your pets and, ideally, allocate funds to cover their care. You might also leave a letter with instructions about their routine, medical needs, and quirks to make the transition easier.
Guardianship of Minor Children
This is one of the most critical yet sometimes overlooked inclusions. If you have children under 18, your Will should clearly name who you wish to act as their guardian. Consider discussing this with the person beforehand, and include a backup option in case your first choice is unavailable.
Loans, Debts Owed to You, and Informal Agreements
If someone owes you money—whether formally or informally—it’s wise to note how you want that debt handled. Should it be forgiven upon your death? Or should your executor collect on it and distribute the funds? Clear instructions can prevent uncertainty and family tension.
Charitable Donations or Bequests
You may wish to leave a portion of your estate to a cause or organisation close to your heart. Including charitable bequests in your Will ensures your legacy lives on in a meaningful way, and may offer tax benefits to your estate as well.
Business Interests
If you own or co-own a business, your Will should address what will happen to your share. Will it be passed to a family member, sold, or transferred to a partner? An integrated approach with your business succession plan is essential—something an experienced estate plan lawyer can help you manage.
Residuary Clause
A residuary clause outlines how to distribute any assets not specifically mentioned in your Will. Without this, anything you forgot to include may be distributed according to intestacy laws—potentially against your wishes.
Updates and Contingencies
Life changes—divorces happen, beneficiaries pass away, and assets fluctuate. Include language that accounts for these changes, or schedule regular updates to your Will with your estate plan lawyer to ensure it reflects your current intentions.
Final Thoughts
Your Will is more than a legal document—it’s a final gift to your loved ones, providing clarity and peace of mind during an emotional time. Taking the time to consider the full picture, including some of the overlooked elements above, can make all the difference in how your legacy is honoured.
Nalain Team
missamoffical
