DAL Law Firm: Does My Will Cover Everything I Own?

Creating a will is a smart step, but many people are surprised to learn that not everything they own can be passed through their will. In fact, some assets actually bypass your will completely.

What Your Will Does Cover

Your will allows you to decide who gets your belongings after you pass away. This includes things like:

Your home
Personal belongings
Vehicles
Bank accounts without a beneficiary
Family heirlooms or collections

What Your Will Doesn’t Cover

Some assets have their own built-in instructions for who gets them when you die. These include:

Jointly owned property (if it has right of survivorship)
Life insurance policies with a named beneficiary
Retirement accounts (like IRAs or 401(k)s) with beneficiaries
Payable-on-death (POD) or transfer-on-death (TOD) accounts

These assets go directly to the person you’ve named, no matter what your will says.

Why This Matters

Let’s say your will says you want your daughter to receive your life insurance, but the policy still lists you’re a prior partner as the beneficiary. The life insurance company will follow the beneficiary designation—not your will. This is why it’s so important to keep your beneficiary designations up to date.

Keep It All in Sync

Your will is an essential piece of your estate plan, but it’s not the whole picture. A complete estate plan makes sure that all your documents and accounts—your will, your financial accounts, your insurance, and even your home title—work together to carry out your wishes.

Here are a few helpful tips to stay on track:

Review your beneficiary designations at least once a year—or after major life events like marriage, divorce, or the birth of a child.
Update your will anytime your circumstances or wishes change.
Consider setting up a revocable living trust if you want to avoid probate for certain assets.
Work with an estate planning attorney to make sure nothing gets overlooked.

Final Thoughts

Planning for the future means more than just writing a will. It means taking a full look at everything you own and making sure each part of your estate passes the way you want it to. At DAL Law Firm, we help you build a plan that covers the details—so you can feel confident that everything is taken care of.

If you would like to consult with our office regarding estate planning services, we would be happy to assist you! Our telephone number is (206) 408-8158.

You can also learn more about our services by visiting our website:

https://www.dallawfirm.com

Or visit our YouTube channel here: https://www.youtube.com/@dallawfirm.

Contact us:

19803 1st Avenue S.
Suite 200
Normandy Park, WA 98148

T (206) 408-8158
F (206) 374-2810

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DAL Law Firm: Does My Will Cover Everything I Own?