When you think about your California estate plan, you may know that you need to discuss how your money, investments and property will be disbursed among your loved ones. You may consider family heirlooms, artworks or small items that have little financial value but substantial monetary value. However, there are other parts of your life that may easily be overlooked when writing your will.
Caring for your living pet
You may not expect your dog, cat or other pet to outlive you, but it is often best to write your will early on, in case of any unexpected circumstances. Other pets, like parrots and horses, often have very long lifespans. Pet owners undoubtedly want their pets to be well cared-for after their death. You can designate a guardian for your pet in your will and provide funds from your estate specifically for the care of the animal. It is important to note that the pet’s guardian will incur expenses, as pets like a cat or dog typically cost hundreds or thousands of dollars each year for food, shelter and veterinary care.
Planning for your digital afterlife
Your life is more online than ever, with businesses, social media accounts and gaming or hobby accounts. You might want to name a digital executor in your will to inherit or shut down your online accounts after you pass away. If there are expenses for maintaining these accounts, these funds should also be considered in your will.
You may think of all of your loved ones to include in your will, but you may also want to support important causes. A charitable donation can be included as part of your estate plan, and many charities have plans in place to receive estate gifts. When considering how you want to manage your estate, an estate planning attorney may help you to develop the right plan for your future.