7 Things You Didn’t Know You Could Include in Your Estate Plan

Are you familiar with estate planning?

An estate plan is a crucial document that outlines your final wishes and arrangements for your assets and properties after you pass away. Many assume that creating an estate plan only involves distributing their assets to their loved ones.

However, you can include several other things in your estate plan that you may not have considered before. Let’s discuss seven things you didn’t know you could include in your estate plan, and how a Houston estate planning attorney can help you organize them.

What Are the Most Common Estate Planning Documents?

Before we get into some uncommon documents to include in your estate plan, let’s discuss the must-have documents that are the most common in estate planning.

The most common estate planning documents include:

1. A will is a legal document that outlines how you want your assets to be distributed after you pass away.

2. A trust is another legal document that can help you manage your assets during your lifetime and after you pass away.

3. Power of attorney allows you to designate someone to make financial and legal decisions on your behalf if you cannot do so.

4. Healthcare directives, also known as living wills, provide instructions on your medical care and end-of-life decisions if you cannot make those decisions yourself.

Each document serves a unique purpose in ensuring that your final wishes are carried out and that you are taken care of in the event of incapacitation. It’s important to work with an experienced estate planning attorney to ensure your estate planning documents are tailored to your unique needs and preferences.

7 Uncommon Things You Can Include in Your Estate Plan

Now that we’ve discussed the most common and crucial estate planning documents, let’s get into the different documents you can include in your estate plan that you may not have thought of.

1. An Ethical Will

An ethical will is a document that allows you to pass down your values, beliefs, and life lessons to your loved ones. It is not a legally binding document, but it can give your family valuable insights into your life and intentions.

Your ethical will can be in the form of a letter or video, which can be included in your estate plan.

2. Charitable Donations

If you have a favorite charity or cause, you can include a provision in your estate plan to donate a portion of your assets to that organization. Charitable donations can help support causes that you’re passionate about and leave a lasting impact beyond your lifetime.

3. A Digital Executor

In today’s digital age, it is essential to designate a digital executor in your estate plan. A digital executor manages your digital assets, such as social media accounts, online banking, and email accounts.

By designating a digital executor, you can ensure your digital legacy is managed according to your wishes after you pass away.

4. A Pet Trust

You can include a provision in your estate plan to establish a pet trust if you have pets. A pet trust allows you to set aside funds to provide for your pets’ care after you pass away. You can specify how the funds should be used and designate a pet caretaker.

5. Funeral Arrangements

Many people don’t consider their funeral arrangements when creating an estate plan. However, you can include your final wishes for your funeral arrangements in your estate plan. This can include details such as burial or cremation, the type of service you want, and any specific requests.

6. Instructions for End-of-life Care

In addition to your funeral arrangements, you can also include instructions for end-of-life care in your estate plan. This can include details about the medical care you want or don’t want, who you want to make decisions if you can’t, and your preferences for pain management.

7. A Unique Trust

A trust is a legal document that can help you manage your assets during your lifetime and after you pass away. There are several types of trusts, each with unique benefits. Setting up a trust specific to your needs ensures that your assets are managed and distributed according to your wishes.

Need Help Creating an Estate Plan? Your Legacy Legal Care™ is Here to Help

Creating an estate plan is essential to preparing for your future and ensuring that your final wishes are carried out. While many assume that estate planning only involves distributing assets, you can include several other things in your estate plan, as discussed today.

The knowledgeable team at Your Legacy Legal Care™ in Houston can help you create a comprehensive estate plan that reflects your values and intentions. Contact us today to schedule your consultation.