The Estate Planning Checklist

Is it time to update your estate plan? Check the checklist.

We all lead hectic lives, and for some of us the to-do list keeps us on track. But did you know that when it comes to an estate plan, a checklist can be invaluable? So what should that Estate Plan Checklist include?

Check your beneficiaries.

Start by checking your beneficiaries on your IRA, 401K Plan, life insurance, and any other assets. You want to make sure that if something happens to you, the right people get what you leave behind.

Check the titles.

Check the titles on your vehicles, homes, and vacation properties. If you’ve had a major life change, like the death of a spouse or a divorce, you need to update all those titles.

Review your accounts.

Having multiple accounts with multiple institutions can create mass confusion, and more work for the administrator of your estate. So simplify and consolidate documents. Then make sure the most up-to-date version is on record.

Review your appointees.

Take a second look at the people you have chosen as your healthcare agent, power of attorney, and successor trustee. Are they capable of handling the responsibility? If you’ve chosen someone older, or not always responsible, you may want to reconsider. 

Then make sure your doctor or healthcare provider has an updated Advance Healthcare Directive or AHCD. That way your family isn’t left making decisions about your care, if you can not.

The bottom line: contact an estate planning professional.

You can probably handle creating a checklist for groceries, errands, even work projects all on your own, but when it comes to an estate planning checklist, call a solid, experienced, estate planning firm. 

Need assistance with updating your estate plan? Contact us today. ​