Monday

Estate Planning Checklist

If you do not have a will, make a plan to write your own will or hire an attorney now to create one for you.

A will is part of a total estate plan. All of us have an estate. Here are the parts and steps needed as part of estate planning.


1) Prepare a will. If there is no will, the courts will decide who gets your possessions.

2) Gather important documents which are tied to your estate. Deeds, trusts, stocks, etc.

3) Consider using estate planning software to create your legal will. Have an attorney review your finished documents.

4) Have your will notarized and witnessed by the appropriate number of witnesses for your state.

5) Regularly review your estate plan for changes such as the inclusion of later children, the death of a recipient, divorce or other legal changes in status.

6) Make a list of assets and liabilities.

7) Name an executor who will oversee your legal will after your demise.

8) Choose a guardian for your children.

9) Have a signed copy of your legal will. Keep other copies on hand as well.

10) Review your estate plan every few years.

11) Keep your insurance policies available to all after your death. Avoid delays opening safe deposit boxes.

12) Verify the type of joint ownership you have on your property.