Creating an Estate Planning Checklist

Creating an estate planning checklist can help you ensure that your assets are transferred to your family in the best way possible. This comprehensive guide will help you make sure that your wishes will be followed and that everything goes smoothly. The checklist will include a list of your assets, insurance policies, accounts, and wishes for your heirs.

Your checklist should also include the names and roles of executors, trustees, and powers of attorney. If you have minor children, you may also want to appoint guardians for them. Regardless of who you decide to appoint to administer your estate, it is important to provide them with a copy of the documents you’ve created. Additionally, you should create a legacy drawer for them to keep important documents.

Another important part of estate planning is making a last will and testament. A will is a document that spells out your intentions for how your assets should be distributed after your death. It can include specific instructions, such as who should care for your minor children if you pass away. You should also nominate a person to oversee the execution of your will.

A comprehensive inventory of all your assets, debts, and liabilities is another important part of the estate planning checklist. This list will help your family members determine what your family members will receive when you pass away. Make copies of your list, date it, and sign it. The original copy should be given to your estate administrator, the second copy to your spouse, and the third copy should be kept in a secure place for your family.