Checklist: Estate Planning
Consider your tangible, intangible, and digital assets, as well as make note of your liabilities and debts.
When creating a will it is important to go through the required signing and witness standards, setting up a trust, and making note of your updated documents.
Considering and developing care plans for minors and family members with specific care needs. Ensure there is open communication to make planning as easy as possible.
Figuring out a financial power of attorney, a healthcare power of attorney, and a living will to help you plan your estate during healthcare challenges.
Regularly updating your life insurance policies, retirement accounts, and considering POD accounts can make things easier for both you and your beneficiaries.
Gain an understanding of what estate taxes are, learn about gift tax exclusions, and discover rules regarding taxes on charitable donations.
Learn about will writing guides, the benefits of hiring professional tax advisors, and look into finding resources for your unique situation.
Ensure that you update your will and documents regarding major life changes and events, to stay up to date with changing laws, and make sure to periodically review your estate plan to ensure that it is still meeting your needs and goals.
**For information purposes only. Always consult a healthcare, financial, investing, tax, or legal professional, as this content is not a comprehensive resource on these topics, should not be relied upon, and should not be considered medical, financial or legal advice. No guarantee or any warranties or representations as to the accuracy, applicability, completeness, or suitability for any purpose of the information contained herein is provided.
