Estate Planning – Easy Checklist

28 May Estate Planning – Easy Checklist

Estate planning is not just for high net worth families; it is required by every individual. With a proper and current estate plan, you can dramatically reduce the added strain to your executor caused by the legal and financial issues surrounding the settling of an estate.

A few simple questions can help you to determine if you are on the right track:

Setting your goals and objectives
  • Have you specified how your assets are to be distributed?
  • Will there be a source of income for your family when you die?
  • Will there be a source of income if you are disabled?
  • Do you know your income at retirement?
  • Do you know the tax exposure on your estate?
  • Do you know how taxes will be paid?
Taking an inventory of your estate
  • Are all of your important papers together?
  • Does your executor know where they are located?
  • Do you have a will?
  • Do you need/have a trust agreement?
  • Do you have a buy-sell agreement for your business?
  • Do you have a current net worth statement?
Your executor
  • Have you chosen your executor and informed them of your choice?
  • Have you explained your expectations?
Your family
  • Have you made funeral plans?
  • Have you discussed them with your family?
  • Have you had a family meeting to talk about your estate plan?
  • Has your family met your professional advisors?
  • Does your family know you you’ve appointed as your executor?
  • Is your life insurance beneficiary information up-to-date?


After a recent family death, the importance of being organized was made apparent. Easing your family’s burden in the event of your pre-mature passing can be a gift to your loved ones.