Dear Attorneys,
I have been thinking about drafting a Will and have been considering the assets that I have. Deciding what to do with these assets and exactly what assets can be put into a Will is something I have been confused about. For example, my credit card accounts have many rewards/ airline miles on them. I love to travel and also have a timeshare with RCI points. Are these assets that I should be allocating to my family in my Will? Or are they not something that can be transferred to someone else besides myself?
Sincerely,
Frequent Flyer
Dear Frequent Flyer,
We are glad to hear you are planning on getting a Will drafted! Wills are great to have in place so that all of your wishes are executed as you would like them to be. A Will can address many of your concerns regarding your current assets, as well as set forth parameters for your funeral, and also, provide for your loved ones after you are gone. Here at Wolf & Shore, we tailor our Wills to each individual client, so that it fits their needs accordingly. Credit card rewards and airline miles are definitely something that should be included in a Will because they are very valuable assets! Awards like these are valued just as much as any other monetary asset. If you didn’t include these in your Will, there is the possibility that you would lose out on these assets and they would likely be go into probate or lapse after enough time has passed. We encourage everyone over the age of 18 to have a Will in place, and if you feel as though you are ready discuss the best estate plan for you, please contact our office today, and set up a confidential consultation. We can be reached here, at 203.745.3151, or at info@wolfandshorelaw.com. You can schedule a call back from our Client Intake Specialist here.
Sincerely,
Wolf & Shore Law Group
*The situations represented in our Dear Attorneys column are entirely fictional and any resemblance to a specific case is unintentional. We cannot, and will not, offer legal advice to anyone who is not a client. However, if you do have questions or concerns, you should contact an attorney at your convenience.