Unconventional Items To Include in Your Estate Planning

Estate planning is more than dividing up assets or writing a will; it’s an opportunity to think about what you’ll leave behind beyond just money. 

While you should address traditional elements like properties and bank accounts, unconventional items can be equally, if not more, important. 

Including these can provide clarity, comfort, and continuity for your loved ones. Continue reading to explore unconventional items to include in your estate planning.

Digital Assets

In an increasingly digital world, your online presence matters. These assets could be significant, from social media accounts to email, subscription services, and cloud storage. Estate planning should include a list of all your online accounts, usernames, and passwords. 

Document any digital content or financial assets, such as cryptocurrency. This step will make it simpler for your loved ones to access, manage, or delete your digital accounts as necessary.

Family Heirlooms

Family heirlooms carry sentimental value. Whether it’s a piece of jewelry, an antique clock, or a photo collection, specifying who inherits these items can prevent emotional disputes among family members. 

Be explicit in your instructions to avoid misunderstandings. Take the time to write down why these items are significant, as this will add emotional depth and meaning for the recipient.

Personal Stories and Values

Your estate doesn’t just have to be a list of assets—it can also be a way to leave a personal legacy. Consider including your life lessons, personal beliefs, or a collection of meaningful stories to pass down to future generations. 

Some people write letters to family members or record videos sharing advice. These gestures serve as a source of inspiration and connection for family members long after you’re gone.

Pet Care Plan

If you have pets, they’re almost certainly part of your family. Planning for their care in your estate is crucial to their well-being. 

Specify who will take responsibility for them after you’re gone and allocate funds for their care. Take the time to speak to the person ahead of time to confirm they’re willing and able to take on the responsibilities. 

Your furry friends deserve as much careful consideration as anyone else.

Charitable Giving Strategies

For many, leaving a positive impact on the world is important. Incorporate charitable giving strategies into your estate plan to leave a lasting legacy. 

You can name specific charities, create a charitable trust, or set up endowments to support causes you care deeply about. Thoughtful planning can amplify your values and make a meaningful impact for years to come.

End-of-Life Preferences

One of the most crucial components of any estate plan is outlining your end-of-life wishes. Include detailed guidance on healthcare decisions, living arrangements, and funeral preferences. 

These instructions help loved ones make decisions aligning with your values and beliefs, alleviating stress during an already challenging time.

Keep Your Estate Plan Updated

Life is always changing, and your estate plan should evolve right along with it. Regularly review and update your plan to reflect major life events, such as new family members, retirements, or moves. 

Keeping your plan updated will help you avoid complications and ensure your wishes are respected.

Estate planning doesn’t have to feel overwhelming. Including these unconventional elements allows you to paint a full picture of the legacy you want to leave. 

Start the conversation today and create a heartfelt plan that goes far beyond finances. It’s your opportunity to provide clarity, comfort, and a lasting impact on the people and causes you care about most.

How to Plan Best Final Expense Insurance?

No one wants to give trouble to loved ones at the end of the life’s journey. You can plan now for funeral cost with final expense insurance so that all your possible expenses are met. Thus, your family members will be able to celebrate your life in a most dignified manner. In order to make the most of the final expense insurance, you should go through the available insurance options. It is also required to get an estimate of probable costs that will be involved at the end of life’s journey. The insurance plan should not exceed your needs in which case, you will pay higher premiums. At the same, the final insurance plan should not under cover your expenses in which case, it will extend financial burden to your family members. 

Assess your requirements 

You can plan now for funeral cost with final expense insurance by getting a decent estimate on your needs. There will be need to spend money on various heads which include funeral service, casket, burial and cemetery plot. Other expenses include the arrangement of flowers, vehicles, procession, viewing and headstone. In order to reach a decent estimate, you should consult the elders present in your community. If you discuss with local community leaders and organizers, it is possible to get a realistic figure. 

Final expense insurance policies 

There are various kinds of insurance policies. It is true that a traditional senior life insurance policy can cover burial and funeral expenses. However, you will get these benefits at higher face value. The premium that you will pay for a final expense insurance policy is very less. Thus, you will get maximum benefit through final insurance policy. You can plan now for funeral cost with final expense insurance by choosing various important riders as per your needs. 

If you go through the final expense insurance policies that are offered by various insurance companies, you will be able to select the best policy for your needs. By going for quotation from more than two service providers, it is possible to select the best final insurance plan. If you go through reviews offered by experts and customers, you can plan now for funeral cost with final expense insurance. 

Plan selection 

Final expense insurance plan will work on the same lines as that of life insurance. It can be taken on term basis or whole life basis. If you go for term insurance, it will provide cover to a certain age (generally up to 80 years). When you go for a whole life policy, it will cover your entire life. The age limit that is set for obtaining final expense insurance will be dependent on the insurance company that you have chosen. Most of the insurance providers set the age limit of 75 years. 

You should go through the eligibility criteria. The past and present health condition should be shared with the insurance provider. You can plan now for funeral cost with final expense insurance so that your family members are relieved from financial burden and they will organize the proceedings as per your desires.

Don't Get Caught Out by These 3 Hidden Funeral Costs

A funeral is one of the single most expensive purchases you will ever make. It may seem like a fairly straightforward event, but there are so many small elements involved in the funeral process that grieving loved ones are often shocked by the final price tag. Knowing some of these hidden costs in advance can help you avoid being taken advantage of at a vulnerable time. 

Acknowledgement Packages

An acknowledgement package is a broad term used by funeral homes to cover small items like guest register books, funeral pamphlets and candles. Some funeral homes include this in a package price, but some do not. If you're aren't covered by a funeral plan, you can expect to pay a lot for these extras. 

This can be avoided by seeking out a package with these items included, or simply having family and friends assist you in creating or obtaining these items on your own. 

Caskets

It's all too easy to make an emotional decision when it comes to a casket out of a sense of duty to the deceased, and funeral home staff may try to take advantage of this by showing you expensive casket options first and banking on the fact that you will choose one impulsively. 

If lower-priced casket models aren't on display in a funeral showroom, insist on seeing them or asking for a catalog or price list with different options. Additionally, there is a host of online casket retailers with competitive prices, and they will be happy to ship a casket to your chosen funeral home. 

Cemetery Services

Many people don’t realize that they will have to pay for the labor performed at graveside services. This includes setting up chairs and awnings and lowering the casket into the grave. Opening and closing the grave can also be very expensive. 

One way to reduce the cost of the labor is by avoiding Saturday services. Labor costs tend to be more reasonable on weekdays than on weekends. Also, keeping the length of the graveside service to a minimum means that you will not be paying for multiple employees to wait at length in order to close the grave. 

Do not give in to pressure from funeral home staff when it comes to making these important choices. Have someone go to the funeral home with you to provide a voice of reason if need be, and always ask for a detailed list of what services you're paying for.

Funeral Plans: What You Need to Know

The caisson carrying the casket of Army Captain María Inés Ortiz arrives for funeral services (Photo credit: Wikipedia)

It’s never easy to plan a funeral. However, it is important to have a clear idea of what kind of areas that you need to cover if you do have the responsibility for arranged one - what are some of the key steps that you need to take to ensure that you don’t have to deal with any unexpected problems in the preparation for and the day of a funeral, as well as after the event? From working with a hospital, to choosing a funeral provider, and including going over details with officials, it’s worth considering the following steps.

First Steps

You’ll first need to have arrangements in place with a hospital, a nursing home, or emergency services for a funeral; in many cases, these can be worked out in advance through written wills and documents that state preferences. Make sure that you are able to be in contact with medical services and a funeral provider.

Choosing A Funeral Provider

What kind of funeral provider you choose will depend on a number of different factors, from whether or not there are a list of approved providers as part of your life insurance, through to who’s available in your local area. You may find that you have a strong cooperative service in your area that can offer a comprehensive service.

Choose the Right Plan

Look at multiple aspects of a funeral before deciding on a plan, and use a will and funeral instructions to set out the details - these details can include whether or not the deceased wanted a burial or cremation, as well as what kind of service is required. You’ll also need to discuss budgets and features with a funeral director, which can include the expense of a coffin, procession, and grave marking services.

Going Over Details with Officials

Make sure that you take the time to go over all details with officials before a funeral - this can be invaluable to ensuring that nothing is missed, and that there hasn’t been any miscommunication. Particularly look at aspects like the choice of songs or readings at a religious ceremony, as well as at delivery times.

Items

Work through a checklist of the kind of items you want to include in your funeral plan, which can then be folded into an overall budget by a funeral provider and director; such items might include urns, grave markers, as well as other services such as online notifications and acknowledgements that can be difficult to put together at short notice.

Post-Funeral

After the funeral, you’ll need to be able to handle any legal issues that might arise - make sure you have a solicitor to go through wills and an estate, and contact any employers, insurance companies, and banks to make sure that all records are updated. It’s best to get as much help as you can for this kind of work.

In general, it’s always best to plan for a future as far ahead as possible, and to compare as many different funeral providers as possible. Discuss what you want to do with loved ones, and get a clear idea of what needs to happen. Even if plans aren’t too specific, it’s better to have some kind of framework in place.

Author Bio: Liam Ohm is a freelance writer, writing on subjects such as funeral services to financial planning. In his spare time he enjoys running and attending seminars.