What Items Can Be Included in an Estate Plan?
Just about anything can be included in your estate. You can determine just how detailed you want to be about everything. No matter what amount of assets you have, you need to have an estate planning lawyer, on your side to make sure your wishes will be executed after your passing. Here are some of the most common things people will ask to include in their estate plan.
Pets Can Be Included in a Will
You may think of pets as being a part of your family, but sadly, they are also considered “property” under US law. This means that your pet will need a home with someone to care for him or her after you are gone. You can include these instructions in your will, as well as some money that is set aside specifically to care for your pet. You can be as detailed as you want. If you believe your pet enjoys going to daycare with other dogs, you can include this as an instruction to use the money you are leaving.
You Can Include Heirlooms in Your Will
You may want to leave everything to one person, or, you may decide that you want to distribute your assets to many different people after your passing. Perhaps, for example, you have a special China set or silverware that means something to you and your family. You can choose to leave these items to different people who will find use and value from them. They can all go to the same person or can be given to many different people in order to leave special pieces in the hands of several family members. It is all completely up to you how you want to handle this.
You Can Give Some of Your Money to Charity
Often, when you are dealing with estate planning, you will be choosing specific individuals to leave your assets for. You can also choose charities and other organizations, however. You will be able to leave your assets to whomever you choose and can decide to keep donating even after you’re gone. You just need an experienced estate planning lawyer to help detail this in your will.
Speak with an Estate Planning Lawyer About Your Ideas
You should always hire an experienced lawyer to determine what the best process will be in distributing your estate once you are gone. Not only will your lawyer make sure that even your most detailed wishes are granted, but he or she will also be able to guide you throughout the entire process to determine how to divide your assets. Your lawyer will have seen it all in the estate planning world. There are many different ways of going about it so that your assets will be given to people in a way that makes everyone feel content and secure. Contact a lawyer today to set up a consultation to go over your estate planning needs.