An estate planning checklist is a list of items that individuals and families can use to ensure that they have addressed all of the important elements of creating a comprehensive estate plan. The following is a general estate planning checklist that may be helpful:
- Determine your goals and wishes for your assets and property.
- Create a will that clearly outlines how you want your assets distributed after your death.
- Consider creating a trust to help minimize tax liability and provide additional control over the distribution of your assets.
- Name beneficiaries for retirement accounts, life insurance policies, and other assets.
- Designate a power of attorney to make financial and legal decisions on your behalf if you become incapacitated.
- Consider creating a healthcare directive to outline your wishes for medical treatment if you become unable to make decisions.
- Review and update your estate plan regularly to ensure that it reflects any changes in your circumstances or wishes.
- Consult with an estate planning attorney or advisor to ensure that your estate plan is legally sound and meets your unique needs and goals.
Overall, an estate planning checklist can be a useful tool for individuals and families who want to ensure that they have taken all of the necessary steps to protect their assets and provide for their loved ones after their death.« Back to Glossary Index