When most people think about estate planning, they imagine drafting a will or designating beneficiaries. While those are essential components, truly effective estate planning involves much more. Overlooking key elements can lead to confusion, legal battles, or unintended financial consequences for your loved ones. Here are three lesser-known aspects of estate planning that deserve your attention, and why working with a NH estate planning lawyer is crucial.
Protect your assets and your family’s future with an estate planning lawyer in NH. Here are three aspects you shouldn’t overlook.
Digital Assets and Online Accounts
In our increasingly digital world, your online presence holds real value. Think beyond just social media accounts. Consider digital photos, cryptocurrency wallets, online banking, email accounts, cloud storage, and even subscription services. Without clear instructions, your family may struggle to access or manage these accounts, or worse, violate privacy laws in the process. Including digital assets in your estate plan ensures a smoother transition and better protection of your digital legacy. You should also ensure the executor of your estate has access to all necessary passwords and login credentials.
Planning for Incapacity
Estate planning isn’t just about what happens after you die. It’s also about what happens if you’re unable to make decisions for yourself. Powers of attorney for finances and healthcare directives are essential tools. They empower someone you trust to act on your behalf in case of illness, injury, or cognitive decline. Skipping this step can lead to court-appointed guardianship, which may not align with your wishes.
Updating Beneficiary Designations and Title Ownership
Many assets—such as life insurance policies, retirement accounts, and even jointly owned property—pass outside your will. If your beneficiary designations are outdated (e.g., still listing an ex-spouse), those assets may go to someone you no longer intend to benefit. Similarly, improper title ownership can lead to probate issues or tax consequences. Regularly reviewing these designations ensures your estate plan reflects your current intentions.
Why You Need an Estate Planning Lawyer in NH
While DIY templates and online tools may seem convenient, estate law is complex and varies by state. A qualified estate planning attorney can help you navigate legal nuances, ensure your documents are legally valid, and tailor your plan to your unique situation. They can also help you anticipate future issues, minimize taxes, and protect your family from unnecessary legal complications. Our team at Feniger, Uliasz & Stacey has the expertise you need to ensure your wishes are clear, legally binding, and followed when the time comes.