Time marches ever on, and anyone with an estate plan has to be able to adjust as the world changes. While you probably know that changes in your life circumstances should require you to review your estate plan, you may also want to make adjustments because of advances in technology or other factors. If it’s been a few years since you addressed your estate plan or took the time to review it, here are two areas you may have missed before that you will want to review now.
Your Digital Life
The explosion of computer technology, social networks, the Internet, and all the other aspects of modern life have made estate planning a little more complicated. Your plan should address all of your online and computer issues. Whether you have a large assembly of family photographs stored only on your computer or you have more complicated digital assets, you need to take the time to address those in your plan. This includes providing your family or executor information about the kinds of assets you have, as well as details on how to access them and what you want to do with them.
Many people who create an estate plan devoted to their children find that after a while their pets become increasingly more important to them. When you first created your plan you may have not had pets at all, but now that you do you’ll probably want to make sure they are cared for should you die. To do this you’ll need to create a pet trust or similar tool.