Three Common Things Missing From Existing Estate Plans

Wills & Wellness--Are These 3 Things Missing from Your Current Estate Plan

As the adage goes, “Failing to plan is planning to fail.” While most of us agree with this statement when it comes to our careers and personal aspirations, it is surprisingly often overlooked when it comes to estate planning

Preparing for the inevitable is not a morbid task; rather, it is an essential step in ensuring your hard-earned assets are distributed according to your wishes and protecting your loved ones from unnecessary legal hassles. 

Wills & Wellness Estate Planning is your trusted partner in securing your legacy and safeguarding your family’s future. In this post, we briefly evaluate three often overlooked aspects of existing estate plans. 

1. Comprehensive Approach to Digital Assets

In the digital age, our lives are intricately intertwined with online accounts and digital assets. From social media accounts to cryptocurrency wallets, these assets can hold significant sentimental and monetary value. Sadly, many estate plans overlook this critical aspect, leaving family members perplexed and frustrated when trying to manage or distribute these digital footprints.

Wills & Wellness Estate Planning recognizes the importance of digital asset management. Our expert team will guide you through the process of identifying and cataloging your online accounts and crafting instructions on how to handle each account posthumously. 

With our help, your digital legacy will be preserved, ensuring your loved ones can cherish your memories and access any valuable assets seamlessly.

2. Empowering You During Incapacity

Planning for the unexpected is as vital as preparing for the inevitable. Life is unpredictable, and incapacitation due to illness or injury is a possibility that none of us can ignore. 

Unfortunately, many estate plans miss addressing this crucial aspect, leaving families in distress and legal complexities.

Wills & Wellness Estate Planning takes a holistic approach to estate planning, including contingency measures for incapacity. With our expert guidance, you’ll establish a durable power of attorney and healthcare directive, appointing trusted individuals to manage your financial matters and make medical decisions on your behalf when you cannot. This foresight empowers you to maintain control over your life, even during challenging times, and relieves your family from having to make difficult decisions without your guidance.

3. Keeping Beneficiary Designations Up-to-Date

Estate planning is not a one-time affair; it is an ongoing process that should evolve with your life’s changes. Many individuals diligently create their wills and trusts but neglect to update their beneficiary designations on other critical assets, like retirement accounts, life insurance policies, and payable-on-death accounts.

At Wills & Wellness Estate Planning, we understand the significance of keeping beneficiary designations current. Our experienced team will work closely with you to ensure all your beneficiary designations align with your overall estate plan, avoiding potential discrepancies and conflicts among your beneficiaries. 

This diligence ensures that your intended heirs receive their rightful inheritances, reflecting your true intentions and sparing your family from unnecessary legal battles.

Wills & Wellness is Here to Help You Update Your Plans

Embarking on the journey of estate planning may seem daunting, but with Wills & Wellness Estate Planning by your side, it becomes a seamless and reassuring process. By choosing Wills & Wellness, you’re entrusting your legacy to a team of compassionate and skilled professionals who genuinely care about securing your assets and protecting your family’s future. 

Remember, estate planning is not only about wealth preservation but also a means of expressing your love and care for your loved ones. Take the proactive step today to secure your legacy and ensure your wishes are honored. 

Contact Wills & Wellness Estate Planning and embark on this transformative journey towards peace of mind and lasting prosperity.

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