Estate Planning Checklist

Creating a comprehensive estate plan is very important to ensure that your assets are disbursed in accordance with your preferences and that your loved ones are taken care of after your death. Here is a comprehensive estate planning checklist to help you through the process.

1. Define your objectives and goals:

• Determine what your objectives are for your estate plan.
• Consider who you wish to inherit your possessions.
• Choose a guardian for minor children.

2. Gather important documents, such as:

• Retirement accounts
• Insurance policies
• Financial account statements
• Marriage and birth certificates
• Titles to vehicles
• Deeds to real estate
• Any previous will or trust documents

3. List your assets:

• Real estate
• Bank accounts
• Investments
• Personal property

4. Determine beneficiaries:

• Clearly state who will receive each asset
• Revise beneficiary designations on life insurance policies and retirement accounts

5. Elect executor and trustees:

• Decide who will execute your will
• Choose a trustee for your trust and decide on what type of trust benefits your needs

6. Designate a living will and healthcare proxy:

• Determine your medical treatment preferences and who can make medical decisions on your behalf

7. Plan for taxes:

• Explore tax-saving options like gifting
• Understand the estate laws in California

8. Arrange digital assets:

• Make a list of usernames and passwords
• Specify how you want your assets to be transferred or managed

9. Set funeral and burial arrangements:

• Document your plans and preferences
• Communicate these plans to your loved ones

10. Consult with estate planning attorneys

• An estate planning lawyer can guide you through the process and ensure everything is done in the most beneficial way for your estate

11. Share your plan:

• Discuss your plan with your family members or those benefiting from your estate.
• Provide copies of important documents to trusted people

12. Protect and store documents:

• Store original documents in a safe location
• Consider storing copies in a safe deposit box or using a digital vault

13. Review and update:

• This is particularly important after major life events such as marriage, divorce, birth, and death.

14. Emergency preparedness:

• Prepare a list of emergency contacts and essential information
• Provide instructions for accessing your estate plan in case of an emergency

Estate planning is a complex process that involves many documents, extensive knowledge of the law and is highly customizable. Consult with our estate planning lawyers to ensure your legacy is protected. This checklist is a starting point and you may require additional considerations.

Filippi Law Firm, P.C., provides legal services in estate planning, probate, trust administration, trust litigation, and personal bankruptcy in the greater Sacramento area and Placer County, with a focus in Rocklin, Roseville, Lincoln, and Granite Bay. Give us a call at (916) 333-7910 or fill out the contact form to get in touch with our office. Consultations are free, and they can be done over the phone, via Zoom, or in person at our office in Rocklin.