#CHECKLIST FO ESTATE PLANNING PDF#

There are several important benefits to estate planning, including: Your lawyer will be able to help you get started and provide expert advice tailored to your personal needs. Work with your lawyer, accountant or financial planner to work out an estate plan that is tailored to your needs and incorporates all your assets.įor help developing a comprehensive estate plan that covers all necessary issues, it’s recommended that you seek independent legal advice.

Identify any potential risks you want to plan around before and after your death, such as divorce, mental incapacity or your early death. Create a list of all your personal assets, as well as other assets that form your estate, such as trusts, stocks or life insurance. The estate planning process can be broken down into a few simple steps:

Filing an advance medical directive, or instructions regarding medical treatment if you’re mentally incapacitated or unable to communicate.

Appointing power of attorney, or someone to conduct your affairs if you’re unable to do so.

Naming an executor of your estate or a trustee for minor beneficiaries.

Making a will, this is an official document that records the distribution of assets.

It aims to provide peace of mind for you and your loved ones, ensuring that your assets are passed on to your beneficiaries in the most simple and effective way.

#CHECKLIST FO ESTATE PLANNING PDF#

If you can work your way through the main estate planning tasks now, you’ll set your loved ones up for an easier transition when you die.ĭownload a printable PDF estate planning checklist What is estate planning?Įstate planning involves developing a strategy to deal with your assets and investments after you die.

While it might be an awkward or even painful topic to think about, mapping out what should happen to your assets if you die or become incapacitated is a crucial part of financial planning. All international money transfer services.

Checklist fo estate planning