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Often-Forgotten Assets Overlooked During Estate Planning

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If you want to ensure that your property and assets are handled correctly and fairly after your death, it is imperative that you work with an estate planning attorney to help you get everything in order. From your vehicles to your home, there can be a lot of belongings to decide what will happen with. While most people easily tack down the bigger assets and get plans made, there are always a few assets that slip by unattended during estate planning. Take a look at these often-forgotten assets that get overlooked so you can make sure that you do not forget these assets. 

Small Tracts of Land 

It is not at all uncommon for people to invest in small pieces of land at different points in their life that may never get developed or never get sold once they have served their initial purpose. For example, if you buy a piece of land for hunting, through the years this land may get disregarded and almost forgotten. Or, if you had a piece of property that was left to you by a relative and you never developed it, it can easily be neglected. Make sure that during estate planning, you look over your real estate ownership history to ensure there is no land you've forgotten about.  

Digital Accounts

The way money is handled nowadays is far different for a lot of people. While you may have a traditional checking or savings account, if you are like a lot of others, you will probably have some online accounts as well. For example, you may keep a PayPal, Stripe, or Bitcoin account that you use for business or shopping purposes. These accounts can easily be neglected during estate planning, even though they are rightfully your assets. Make sure you include digital assets like these in your estate plans along with access information. 

Storage Units 

It is not at all uncommon for the average person to keep a storage unit rented for belongings they don't have room for at their own property. Unfortunately, these units often get abandoned after someone passes away because they are not known about by the family and not left in the estate plan. If you have a storage unit, make sure you include this in your estate plan, and include a list of the items that are kept inside and whom they should be given to upon your death.