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Five items often overlooked in a will

Loyalty programs

Each loyalty program has its own rules about whether points can be transferred to a beneficiary, so check your programs’ policies. When allowed, list the loyalty program in your will and name the beneficiary of the points. Also, provide your executor with each loyalty program’s login information.

Digital assets

In your will, you can grant access, provide instructions or name beneficiaries for a range of online accounts and property. Such items may include bank and investment accounts, automatic bills payments and subscriptions, personal or business websites, photo or video collections, social media accounts or a cryptocurrency wallet.

Pet care

If you have a friend or family member who will take care of your pet, you can name them in your will to become the pet’s new owner. Also in the will, you can leave this person funds to cover pet insurance, food and other costs.

An RESP

Are you the sole subscriber of a Registered Education Savings Plan (RESP)? On your passing, the default is that the grant money is repaid to the government and the remaining assets become part of your estate. A solution is to name a successor subscriber in your will. The successor subscriber can maintain the RESP for your child or grandchild.

Special possessions

Some possessions get left out of a will because their value is primarily sentimental, not financial. However, many items—even a fishing rod or a pasta maker—could remind your child of a special bond you shared.

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