When thinking about a will, we often focus on the distribution of material assets such as properties, money, and valuables. However, our non-material assets—such as copyrights, sentimental possessions, personal messages, and digital legacies—are also important. These assets can hold deep meaning and represent an essential part of the legacy we want to leave. This guide will help you understand how to include these assets in your will and ensure that your wishes are respected.
What Are Non-Material Assets?
Non-material assets are those that do not have tangible or physical value but often carry great emotional, intellectual, or spiritual significance. They can include items such as:
- Copyrights and Intellectual Property: If you have written works, artwork, patents, or music, these represent copyrights that may continue to generate benefits.
- Personal Messages and Letters: Letters, journals, voice recordings, or videos may contain memories and messages you wish to leave for your loved ones.
- Digital Legacy: This includes your social media accounts, websites, blogs, and emails. It also includes photos, documents, and digital files you want your family to have access to.
- Sentimental Objects: Often, possessions with sentimental value, such as family heirlooms, may not hold significant monetary worth but possess great emotional importance.
How to Include Non-Material Assets in Your Will
Although it may not be common to think about including non-material assets in a will, doing so can help ensure that your wishes are respected after your passing. Here are some steps to guide you through this process:
- Identify Your Non-Material Assets
The first step is to create a detailed inventory. Include everything that holds significant value to you and describe how you would like it to be distributed. Consider who might value each item and what message or memory you wish to leave. - Specific Instructions in the Will
In your will, you can specify how your non-material assets should be managed. For example, if you have journals or personal letters, you can decide who will receive them and whether you want them to be read or kept private. You can also designate who will have access to your digital accounts and how they should be handled. - Consider a Digital Trust
For important digital assets, a digital trust can be a useful tool. You can name a trusted trustee to manage your digital assets, such as files, accounts, and websites. This ensures that they are handled according to your wishes. - Document Instructions for Your Intellectual Property
If you own copyrights or patents, make sure your will includes details on how you wish them to be managed. You can designate someone to handle the administration of your works or rights and leave clear instructions on whether you want them to be published, sold, or shared for educational or family purposes. - Leave Personalized Messages and Remembrances
Non-material assets also include messages you want to leave for your loved ones. Some people choose to write letters, record audio messages, or even prepare videos for special moments. Including this type of legacy in your will ensures that your loved ones receive your thoughts and feelings after you are gone.
Considerations for Digital Legacies
The digital legacy is an increasingly important aspect of estate planning. Digital platforms like social media, email, and cloud storage accounts may contain important memories and documents. Here are some tips for managing it:
- Include Your Digital Credentials: There are services where you can securely store access credentials for your digital accounts, leaving access instructions in your will.
- Designate a Legacy Contact: Some platforms, like Facebook, allow you to designate a legacy contact—someone who can manage or delete your account once you pass away. This helps your family decide how to handle your digital presence.
- Instructions Regarding Content: If you have specific wishes about what digital content should be preserved, shared, or deleted, include it in your will. For example, if you have a blog or website, indicate whether you want it to remain active and who you want it to belong to.
Recommendations for Sentimental Non-Material Assets
Do not underestimate the impact of possessions with sentimental value. Items like family photos, inherited jewelry, or letters may hold much greater value than they appear. When identifying these objects, leave clear instructions about who should receive each one. Consider sharing the story behind each item, which can add emotional value to these memories and strengthen the bond with future generations.
Leave a Legacy that Reflects Your Values
The distribution of non-material assets allows you to share more than just objects; it enables you to convey your values and feelings. By including these elements in your estate planning, you can provide your loved ones with a way to remember you beyond the material. Think about what you truly want to leave as a legacy and ensure your wishes are honored.
Protect Your Personal and Family Legacy
Planning for non-material assets is a special way to preserve your memories and pass on your values to your loved ones. If you need assistance in creating a will that accurately reflects your wishes, our experts at Jurado & Associates are here to help. Contact us today at +1 (305) 921-0976 or email us at [email protected]. Protect what you value most and ensure you leave a lasting legacy.
