Top 13 Most Common Forgotten Items in a Will

When drafting a will, most people focus on the big-ticket items—homes, bank accounts, and other significant assets. However, smaller possessions and overlooked details can lead to confusion, disputes, or unintended consequences for loved ones. These “forgotten items” often hold sentimental or practical value and deserve careful consideration.

Learn the importance of accounting for every item in your estate plan, offering tips to ensure your wishes are fully honored. Don’t let the little things become big problems. Just take a few moments to address these forgotten items.

Designate beneficiaries for retirement accounts and life insurance policies

Retirement accounts and life insurance policies can be overlooked when planning a will. These assets need clear beneficiaries to ensure they go to the right person. Without these designations, there can be confusion or delays in transferring the funds.

It’s important to make sure that both life insurance and retirement benefits are correctly listed to avoid any surprises later. This helps keep things smooth when handling estate matters.

To learn more: 13 Easy Ways to Avoid Probate and Pay Less in Taxes

Include a backup executor in case the primary executor is unavailable

Many people forget to name a backup executor for their will. If something happens to the first person chosen, there could be delays or even legal problems.

A backup executor ensures there is someone ready to take charge and follow your wishes. Without this backup plan, things can get complicated during an already difficult time. Be sure to name a trustworthy second in case of emergencies.

To learn more: Why Estate Planning is Needed

Specify digital assets

With more aspects of life online, digital assets are often left out of a will. This includes what to do with email accounts, social media profiles, and even cryptocurrency. If these are not listed clearly, they may be lost or inaccessible after you pass.

Specifying what happens to these assets helps your loved ones handle things better. It’s a simple way to avoid digital confusion after death.

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List sentimental items or family heirlooms with specific recipients

Sentimental items, like family heirlooms or keepsakes, are often forgotten in estate planning. These items may hold a lot of emotional value but can be overlooked when deciding who gets what.

By clearly listing who will inherit these items, there’s no question about who should keep them. Without these details, family members might argue over who gets what, causing unnecessary conflict.

Even writing notes to tape under the item with the history of the heirloom and who is to inherit the item is extremely helpful.

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Address personal debts and how they should be handled

Many people don’t include clear instructions for how their debts should be paid in their will. Credit card bills, loans, and other personal debts can cause complications if they aren’t addressed.

It’s important to specify how debts should be handled so that loved ones aren’t left dealing with unanswered questions. If this is left out, the estate could face delays or legal battles over what to pay and how.

To learn more: How to Get Out of Debt in 5 Easy Steps

Clarify ownership and transfer of business interests

Business ownership often isn’t properly addressed in a will, especially if a person owns a business or has shares in one. Without clear instructions, there can be confusion about who gets what share.

Specifying how to transfer business interests makes sure everything stays on track and the right people take control. This can prevent disputes and ensure the business continues smoothly.

To learn more: How to Help Your Aging Parents with their Finances (and Avoid Headaches Later)

Account for pets and their care

Pets are often forgotten in wills, leaving no plan for their future care. It’s important to specify who will look after them and how their needs will be funded. Without this, pets might end up in shelters or have to be rehomed.

Taking the time to include a plan for their care ensures that they are well taken care of after you’re gone. Setting aside funds for their expenses gives you peace of mind.

Include instructions for any jointly owned property

Jointly owned property can cause confusion if it’s not mentioned in a will. Things like homes or cars that are shared with another person may need special instructions for transfer. Without this, there may be delays or even legal challenges to who owns what.

Clearly stating who will receive the property or how it will be handled helps avoid complications and ensures your wishes are carried out.

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Provide details for real estate not located in your primary state

Real estate located in another state often gets overlooked in estate planning. If you own property outside your primary residence state, it’s important to specify how it should be handled.

Different states have different laws, and failing to mention this can lead to legal complications or delays. Clearly listing out-of-state properties helps ensure they’re passed on according to your wishes.

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Specify how taxes, debts, and expenses should be paid

Many people forget to address how taxes, debts, and other expenses should be paid in their will. This includes whether an executor can be paid for their time closing the estate. These are essential parts of settling an estate.

Without a clear plan, surviving family members may be left unsure of how to handle the payments. Including details on how these costs should be taken care of ensures the estate is settled properly and quickly. This avoids any unnecessary burdens for loved ones.

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Plan for charitable donations

Charitable donations often get forgotten in estate plans. If you want to leave part of your estate to charity, it’s important to specify exactly which organizations should receive gifts. Without this, your wishes may not be carried out, and the funds may not go to the causes you care about.

Typically, taxable IRA accounts tend to be a common type of account given to charity for tax purposes. A clear, detailed plan for charitable donations ensures that your legacy will live on as you intended.

Address any special instructions for minor children or dependents

Minor children or dependents often require special attention in a will. Parents should include clear instructions about guardianship and care. These details help avoid confusion or court involvement when it comes to their future.

Without clear instructions, children could end up in situations that go against the parents’ wishes. Make sure to specify who will care for them (or who cannot care for them) and how they will be supported.

To learn more: 20 Common Bills You Don’t Have to Pay in Retirement

Regularly update the will to reflect life changes

Over time, life changes like marriages, divorces, or the birth of children can impact your will. It’s important to update your will to reflect these changes, as old versions may no longer meet your needs.

Failing to keep your will current can lead to confusion or unintended consequences. A regular review of your will ensures that your estate plan stays in line with your wishes as life evolves.

Get Your Estate Planning Up to Date

Estate planning is something that should be regularly reviewed. As life circumstances change—like the birth of a child or changes in assets—your will may need to be updated.

Keeping your estate plan current ensures that your wishes are followed and that no important details are missed. Failing to do so can lead to complications when the time comes to execute the will. Stay on top of your planning to avoid any surprises later on.

To learn more: 10 Simple Steps on How to Start Estate Planning

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