Estate Planning 101 Checklist
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- Establish estate plannng goals
- Inventory assets
- Inventory liabilities
- Inventory digital assets, profiles and passwords
- Evaluate disability insurance needs and purchase policy
- Evaluate life insurance needs and purchase policy
- Designate beneficiaries or transfer/payable on death for:
- life insurance
- IRAs
- 401(k), 403(b), etc.
- bank accounts
- investment accounts
- stocks
- bonds
- Create a living will/advance care directive (medical POA)
- Obtain general financial power of attorney
- Draft will
- Create living trust if applicable
- Fund living trust if applicable
- Consider lifetime gifting strategy
- Consider donor-advised fund or charitable remainder trust
- Create a business succession plan if applicable
- Plan for long-term care
- Plan for end-of-life and funeral arrangements
- Write letters of instruction for executor, guardian, & trustees
- Write letters to family and friends
- Assemble In Case of Emergency (ICE) Binder
- Secure originals, safely store copies, & provide copies as needed
- Calendar dates for ongoing review and plan management