While no two people take the exact same approach to estate planning, there are some basics everyone can focus on upfront to ensure success in the end. One of the best things you can do is create an estate planning checklist. Not only will this provide you with guidance, but it’ll give you the confidence you need to proceed.
Here are some of the basic details to include in an estate planning checklist:
- Last will and testament
- Revocable living trust
- Advance healthcare directive
- Financial power of attorney
- Beneficiary designations
- Insurance policies and related information
- Titles and property deeds
- Funeral instructions
As you move through each of these points, you’re likely to find yourself facing a variety of questions. For example, beneficiary designations are necessary for insurance policies, retirement accounts, and pensions.
The goal of an estate planning checklist is to keep you on track as you move through each step of the process. If you run into any complications — such as making medical decisions to include in your advance healthcare directive — stop what you’re doing to consider your options and the best path forward.
With an estate planning checklist in front of you, it’s easier to determine where you stand and which steps you still need to take. This allows you to avoid mistakes while moving forward without delay.
Of course, since estate planning can be complicated, it’s best to consult with an experienced legal team. An attorney can answer your questions, help you move through a comprehensive checklist, and assist you with any necessary changes in the future.
If you require professional assistance, contact our law firm online or via phone at (817) 899-3286. You’re closer than you think to finalizing an estate plan that will give you and your family peace of mind.