Estate Planning Checklist

List all your assets including real estate, bank accounts, investments, insurance policies, retirement plans, and personal property of value. Ensure that you include both tangible and intangible items.

Record all liabilities and outstanding debts, including mortgages, loans, lines of credit, and any other personal debts to provide a clear financial picture.

Verify and update beneficiary designations on accounts such as life insurance, IRAs, and 401(k)s to ensure they align with your current wishes.

Create or update your will to reflect your current intentions for asset distribution, guardianship for minors, and any trusts you wish to establish.

If applicable, establish trusts to manage assets, minimize taxes, and provide legal protection and benefits for the beneficiaries.

Appoint a power of attorney to handle your financial affairs should you become unable or unavailable to manage them yourself.

Draft a living will and healthcare power of attorney documents to outline your wishes for medical care in case of incapacitation.

Secure a safe and accessible place for your estate planning documents and communicate its location to your executor or trusted family member.

Revisit and update your estate plan regularly to account for changes in assets, family circumstances, and legal regulations.

Consider seeking legal advice from an estate planning attorney to ensure that your documents are accurate, legally sound, and tailored to your unique situation.

Don't forget to include digital assets like online accounts and social media in your estate planning, along with instructions for managing or closing these accounts.