5 Overlooked Assets That Should Be Included in Your Estate Plan
Estate planning is about more than distributing property after death—it’s about protecting your legacy, providing for your loved ones, and maintaining control over how your assets are handled.
Many people think of wills, trusts, and bank accounts when they hear the term “estate,” but some of the most important possessions are often overlooked. These assets may not have obvious financial value, yet they can carry deep emotional, legal, or digital significance.
At Russell Manning Law PLLC, I help families throughout South Texas, including the Coastal Bend area, Kleberg County, Nueces County, Live Oak County, Jim Wells County, Aransas County, and Victoria County, create personalized estate planning strategies that protect what truly matters.
From digital accounts to family heirlooms, my approach focuses on clarity, compassion, and long-term security so your wishes are honored and your loved ones are supported.
Digital Assets and Online Accounts
In our modern world, digital property is often the first category of assets people forget to include in their estate planning documents. However, online accounts can hold both financial and sentimental value.
Examples of digital assets include:
Online banking and investment accounts: These accounts often contain funds or important records tied to your financial life.
Social media accounts: Profiles on platforms like Facebook or Instagram may contain treasured memories and should be managed properly after your passing.
Email accounts and cloud storage: These hold personal information, family photos, and essential records that may need to be accessed by loved ones.
Cryptocurrency: Without access keys or passwords, digital currencies may be lost forever.
By identifying and organizing your digital assets, you can make it easier for your executor to access, close, or transfer them as you wish. I often advise clients to create a detailed list of online accounts, usernames, and access instructions, and to store it securely with their estate documents.
Transitioning from digital property, another often-forgotten category is insurance and retirement accounts, which many people assume will automatically transfer without formal planning.
Life Insurance Policies and Retirement Accounts
Life insurance and retirement accounts play major roles in long-term financial security, yet they’re commonly overlooked in estate planning because they pass through beneficiary designations rather than wills. While this may seem straightforward, failing to update beneficiaries can cause serious complications.
Key considerations include:
Outdated beneficiaries: If a spouse or family member passes away or relationships change, old beneficiary designations may no longer reflect your wishes.
Coordination with other estate documents: Life insurance payouts and retirement funds should align with the overall goals of your estate plan to avoid conflicts.
Tax implications: Some retirement plans, like IRAs and 401(k)s, have specific rules regarding taxation and distribution that need careful planning.
When reviewing your estate, I help clients confirm that their insurance and retirement accounts match their current goals. Keeping these assets up to date can prevent disputes and support financial stability for surviving family members.
From financial accounts, we move naturally to physical possessions that carry meaning beyond their market value—family heirlooms and personal items.
Family Heirlooms and Sentimental Property
Some of the most valued items in an estate have little to do with money. Family heirlooms—jewelry, antiques, photos, or collectibles—often hold deep emotional value and can become sources of conflict if not clearly addressed in your estate planning documents.
When addressing sentimental assets, consider:
Creating an inventory: Listing items like wedding rings, artwork, or keepsakes helps prevent confusion about who receives what.
Adding written explanations: Including a short letter describing why certain items go to particular people can make the process more personal and meaningful.
Using a personal property memorandum: This document, often referenced in a will, allows you to adjust distributions of personal items without rewriting your entire will.
By thinking beyond financial value, you protect your family’s emotional connections and preserve your legacy thoughtfully. Once heirlooms are addressed, another overlooked category involves digital and intellectual property, especially for individuals who own creative work or business assets.
Business Interests and Intellectual Property
If you own a business or have intellectual property rights, these assets must be carefully incorporated into your estate planning documents. Failing to do so could leave your family unprepared to manage or transfer ownership, potentially disrupting income or business operations.
Types of assets to consider include:
Business ownership shares: Whether you own a small company or are a partner in a larger entity, ownership interests must be defined in succession plans.
Patents, copyrights, or trademarks: Intellectual property can generate ongoing revenue and should be legally protected for future beneficiaries.
Licensing agreements: Contracts that allow others to use your intellectual property may continue after death, so clear instructions for management are essential.
Business continuity plans: Identifying who will run the business or manage operations after you’re gone prevents unnecessary disruption.
Addressing business and intellectual assets requires coordination with other parts of your estate plan, such as trusts or powers of attorney, to maintain seamless control. From business planning, another key area of focus is healthcare—particularly medical directives and decisions that reflect your values and preferences.
Healthcare Directives and Long-Term Care Planning
While not always considered an “asset” in the traditional sense, your health and personal autonomy are among the most important parts of estate planning. Healthcare directives and related documents make sure your wishes are respected if you can’t make medical decisions for yourself.
Essential healthcare planning documents include:
Living will: This outlines what medical treatments you do or don’t want in specific circumstances.
Durable power of attorney for healthcare: Designating someone you trust to make medical decisions on your behalf.
HIPAA authorization: Granting access to your medical information for designated family members or representatives.
Long-term care plans: Identifying preferred facilities, funding options, or long-term care insurance coverage.
Including these documents in your estate plan reduces uncertainty and protects your family from making difficult decisions without guidance. It also transitions naturally into the final stage of comprehensive estate planning—tying together all assets to create a cohesive and enforceable plan.
How These Elements Strengthen Your Overall Estate Plan
Bringing together digital, financial, personal, business, and healthcare assets provides a holistic picture of your estate. Many people assume that drafting a will is enough, but a complete estate planning strategy considers every aspect of your life and legacy.
Benefits of addressing overlooked assets include:
Preventing disputes: Clear documentation minimizes confusion or disagreements among heirs.
Reducing administrative delays: Executors and trustees can manage assets more efficiently when all details are organized.
Protecting sentimental and digital value: Families maintain access to items that matter most, even if they’re not financially significant.
Supporting financial stability: Updated designations and coordinated planning reduce the risk of lost or misdirected assets.
By addressing these commonly forgotten areas, I help clients build estate plans that reflect their full financial and emotional priorities.
Experienced Estate Planning Attorney
Proper estate planning goes far beyond a simple will—it’s about creating a detailed blueprint for your legacy.
At Russell Manning Law PLLC, I work with clients throughout South Texas, including the Coastal Bend area, Kleberg County, Nueces County, Live Oak County, Jim Wells County, Aransas County, and Victoria County, to identify and protect all types of assets, from financial accounts to family heirlooms.
Reach out today to discuss how we can build a comprehensive estate plan that honors your wishes and protects the people and property that matter most to you.