Make your wishes known, and protect the people you love.
Creating a will isn’t just about dividing things up—it’s about making sure your values, your relationships, and your legacy are honored.
Whether you’re writing your first will or updating one after a major life change, it helps to know what belongs in a will—and what doesn’t. At Paige, we’re here to make that process as simple, secure, and human as possible.
Here are seven types of assets you should consider including in your will—and a few that are better handled outside of it.
1. Cover Debts and Final Expenses
Make sure your will addresses how your bills will be paid.
Even after death, certain expenses remain: funeral costs, outstanding medical bills, probate fees, and lingering debts. While your executor will handle most of this, your will can (and should) spell out how those expenses should be covered.
You might want to:
- Set aside specific funds to cover final expenses
- Authorize the sale of certain assets to pay debts
- Make it clear your beneficiaries won’t be responsible for personal loans
Paige tip:
If your estate might not have enough funds, talk to an estate planner about life insurance or other tools to help protect your loved ones from unexpected costs.
2. Real Estate (Including Your Home)
Decide who gets the keys.
Your home is likely one of your most valuable—and sentimental—assets. If you own property, your will should name who you want to inherit it and under what terms.
You can:
- Leave your primary residence to one person or divide ownership
- Name alternate beneficiaries in case your first choice can’t inherit
- Outline what happens to vacation homes, land, or rental properties
If there’s a mortgage on the property, you’ll also want to specify whether:
- The estate should pay off the remaining loan
- The beneficiary will inherit both the property and any remaining debt
Important:
If you co-own a home, how it’s titled affects whether you should include it in your will:
- If you co-own the home as joint tenants with right of survivorship, your share will automatically pass to the surviving co-owner when you die. This arrangement is most commonly used by spouses, but it can also apply to unmarried partners, parents and children, siblings, or other co-owners. In that case, listing the home in your will is not necessary (and can create confusion).
- If you co-own the home as tenants in common, your share does not transfer automatically. You should name who you want to inherit your share of the property in your will to ensure your wishes are followed.
Why this matters:
Understanding how your property is owned helps you avoid potential legal issues—and ensures your home is passed on the way you intend.
3. Investments (Stocks, Bonds, Mutual Funds)
Name who should inherit your financial portfolio.
If you own individual investments outside of retirement accounts, these can—and should—be listed in your will. You can leave them to one person or divide them among several beneficiaries.
If you prefer, you can leave a lump sum value (“$20,000 worth of stock”) rather than specifying exact shares.
Paige tip:
Make a list of what you own and store it alongside your will. That way, your executor and beneficiaries know exactly where to find everything.
4. Business Interests
Plan for the future of what you’ve built.
If you own all or part of a business, include clear instructions about what should happen after your death. Otherwise, your share could end up in probate limbo.
Consider:
- Naming a successor if you want the business to continue
- Choosing a beneficiary to receive profits or assets
- Directing the executor to sell your interest and divide proceeds
Heads up:
Before you include a business in your will, check the company’s formation documents. Some businesses automatically transfer ownership or dissolve upon the owner’s death.
5. Cash and Bank Accounts
This includes more than the bills in your wallet.
Cash in checking, savings, and money market accounts can be included in your will—if they don’t have a Payable-on-Death (POD) designation. POD accounts transfer directly to the named person and skip the will entirely.
Accounts without a POD beneficiary can be listed in your will with instructions for who should receive the funds.
Paige tip:
Cash is often used to cover short-term needs like funerals or urgent debts, so consider making some funds immediately accessible to your executor.
6. Physical and Sentimental Items
It’s not just about money—it’s about meaning.
From jewelry to furniture to keepsakes, your belongings can carry real emotional weight. Use your will to clearly state who should receive which items—especially if more than one person might want them.
You can:
- Make a detailed list of personal possessions
- Divide items equally among your children
- Leave certain things to specific friends or family members
Think beyond monetary value. Sometimes the most meaningful items—like handwritten letters, cookbooks, or heirloom quilts—mean the most.
7. Guardianship for Children and Pets
The most important decision of all.
If you have children under 18 or pets who depend on you, your will is where you name who should care for them. This is called naming a guardian, and it’s a legally binding decision.
Before listing someone:
- Have a conversation to confirm they’re willing and able
- Name an alternate, just in case
- Consider setting aside funds in a trust for their care
Paige tip:
You can change your mind later. As relationships and circumstances evolve, so should your plan.
What Not to Include in Your Will
Some assets automatically bypass your will, and listing them can actually complicate things.
Here’s what not to include:
- Jointly owned property with right of survivorship
- Anything in a living trust (it’s already covered!)
- Life insurance policies with a named beneficiary
- Retirement accounts like 401(k)s, IRAs, or pensions with designated beneficiaries
These assets pass directly to the person named—no probate, no will required. Just make sure your beneficiary info is up to date.
The Paige Perspective
At Paige, we believe your will should be more than legal language on paper—it should be a reflection of your care, your intentions, and the life you’ve built.
We’re here to help you:
- Identify what matters most
- Decide how you want to share it
- Put it all into a plan your loved ones can follow with confidence
Start your will today—and give your legacy the clarity it deserves.
Get started with Paige →
