Creating your estate plan will involve the use of many documents and tools in order to meet all of your needs. Throughout your planning, you will need to handle all of your decision making tasks properly so that you are prepared for the future. We’ve created a checklist to help you get through the planning process. Make sure that you work with an estate planning attorney so that you have an individualized plan. If you have any questions or if you need help creating your estate plan, meet with our estate planning attorney.
- Do you have a will? If not, you will need to create one. If you do have a will, it may be time for updates. You should update your will every 3 to 5 years or sooner if you experience significant life changes such as divorce, marriage, or the addition of a new child. A will is one of the most important estate planning documents.
- Do you have powers of attorney in place? With powers of attorney, you can make sure that your medical and financial responsibilities are met even if you become incapacitated. You will be able to appoint agents who will help make decisions and act on your behalf. It’s important to have these documents in place so that your loved ones are able to help you during your time of need.
- Did you take the time to create a living will? A living will can be used to outline your wishes regarding certain medical procedures and end of life treatment options. If you have wishes that you want respected, you should outline them in this document.
Take a look at our next blog post (part 2 of 2) for more of our estate planning checklist recommendations. If you have any questions or if you need help creating your estate plan, consult with a qualified estate planning attorney.