Estate planning encompasses a lot of different things. For some, estate planning is nothing more than creating a basic will. For others, the process is more about preserving their legacy. This highlights one of the most important things about estate planning: it is customizable to fit your needs. While this certainly holds true for dealing with complex financial matters, it is also true for what is often thought of as “soft” estate planning.
Soft estate planning is the process through which you address important end of life issues that typical estate planning usually doesn’t focus on. For example, your estate plan can dictate how you are to buried, if you want to be buried at all and specify the particularities of your funeral service. This will not only allow you to retain control over your sending away, but it can also take the stress of funeral planning off of your family.
Another aspect of soft estate planning is dealing with your digital assets. This may include digital currency like Bitcoin, but it can also include your social media accounts and cloud-based photo and music libraries. To ensure that these assets are included in your estate distribution, you should think about retaining your usernames and passwords in an easily accessible location. That way, when the time comes, your family will have a full picture of your digital footprint and exactly what to do with it.
These are just a few of the estate planning issues that are often overlooked. As a result, these matters can wind up causing massive headaches for heirs and beneficiaries. To better ensure that your estate plan is holistic in nature and in accordance with your wishes, it may be wise to sit down to speak with a legal professional.
