Estate planning
None of this is expert advice. It's what people worked out for themselves, usually the hard way — what actually helped, and what they'd tell someone standing where you are. Take what fits and leave the rest.
If you only read a few
Ensure multiple people know where your will is located so it can be found if you perish.
To ensure the will cannot perish along with you.
2 people, independently
Choose an impartial executor when drafting a will to reduce family conflict and litigation risks.
Family members refusing duties due to perceived unfairness can cause an estate to rot into a mess for years.
one person who lived it
- Appoint a non-relative as executor to avoid family suspicion and division.1
Indicate where passwords are stored in your will rather than writing the actual passwords inside it.
Wills become public records upon death, which could expose your passwords to anyone on the internet.
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Designate a specific person to make decisions rather than relying on biological relatives if you prefer someone else.
You may want someone who raised you, rather than a biological parent, to make decisions.
- This reflects one person's specific family dynamic.
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Use an online will kit to help you consider necessary situations and questions.
Kits prompt users to think of details they might otherwise overlook when drafting alone.
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Explicitly name people who should not receive any inheritance, to prevent claims that they were forgotten.
People have successfully argued they were forgotten if not explicitly excluded.
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Draft a will even if you currently have no assets.
It speeds up estate administration and reduces associated fees; it also prepares you for potential future wealth.
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If you are of legal age, create a Last Will and Testament to spare your family the burden of sorting out your affairs.
It saves remaining family members significant work and avoids prolonged court processes for properties and businesses.
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Do not assume a will covers all assets; recognize that beneficiary designations on insurance and pensions override the will.
Insurance payouts and pension distributions follow the beneficiaries listed with those institutions, having zero say from the will.
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Hire a qualified attorney to draft wills and trusts to avoid poorly worded, unenforceable documents with loopholes.
DIY or vague language can render documents worthless or lead to unintended outcomes where default laws apply.
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Consult a professional lawyer rather than relying on internet advice for legal matters.
- Laws vary by state.
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Write down or securely store passwords so executors can access digital accounts, social media, and crypto wallets after your death.
This allows loved ones to access memories and manage digital assets rather than searching through galleries blindly.
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Regularly update beneficiary designations on retirement plans and life insurance policies to ensure ex-spouses or estranged family members are removed.
Ex-spouses or estranged family often remain listed as beneficiaries otherwise.
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Assign beneficiaries and contingent beneficiaries to all financial accounts and keep these designations updated.
This free step can prevent ex-partners from receiving assets like life insurance.
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Request a free initial consultation with a local lawyer to determine ballpark costs for drafting a will.
Many lawyers offer free initial consultations.
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