10 Things You Absolutely Must Include in Your Will (Don't Forget #9!)

Creating a will can be a daunting task. During this process, you need to make some serious decisions about what you may be leaving behind.

By considering all your assets and making clear plans for where they should go, you make it easier for your executor to handle the estate and eliminate financial stress for beneficiaries.

Here are some things you should include when putting this important document together.

Among the most important aspects of your will is who will execute your wishes, and who will benefit by receiving your assets.

Name an executor you can trust to handle the responsibility of dealing with your estate. Choose the beneficiaries you want to get ahead financially thanks to your lifetime of hard work.

Parents have to make the difficult decision of who should be responsible for their minor children in the event of the parents’ deaths.

Name the person or people you want to care for your children. For parents, no decision is more important than this one.

List all your banks, investment firms and other financial institutions where you keep savings. This should include details about everything from savings accounts to money market accounts and certificates of deposit.

Keep in mind that legally, the beneficiaries you name as part of your individual accounts supersede whatever you state in your will. But it’s still a good idea to list savings in the will.

List all of your real estate properties in your will.

The list should include your primary home as well as rental properties, vacation homes, land you own, or any other real estate properties you own by yourself or jointly with someone else, such as a spouse or business partner.

You can also detail plans for the real estate, such as who should get each property after you are gone.

Retirement accounts and brokerage accounts will need to go to someone else when you die. Decide who should get these assets and add the information to your will.

Once again, it’s important to note that the beneficiaries you name as part of these accounts generally will supersede anything in the will. 

Check with your financial institutions to get details on how to name beneficiaries to those accounts and review them from time to time in case they need to be updated.

Unfortunately, your executor may have to account for debts you accrued throughout your lifetime. So, list debts in your will.

Think about debts tied to credit cards, student loans, car loans, mortgages, or other loans.

Decide who should have access to your digital photos, documents, email accounts, social media accounts, and more.

You also may want to consider signing up for a secure online platform such as a digital vault and deciding who will have access to it.

If you own a business, include it in your will.

You can help your heirs — and the people who will take over your business — by including information such as founding documents, insurance information, business accounts, and financial information.

Make sure your furry friends are also taken care of by choosing a guardian for pets.

You may want to include instructions for how to care for pets when you are gone. Or maybe you want to provide money and other assets to the guardian to help them care for your animals.

We all have personal items that hold sentimental value and that we hope to give to specific people when we die.

Consider family heirlooms and jewelry, as well as things such as furniture, books, and even your vehicles.

A will can give you peace of mind and help you avoid financial mistakes so your survivors won’t have to deal with hassles when you are gone.

So, educate yourself about wills and find a good attorney who can help you work through the process.