Before You Begin: Gather and Organize
- A full inventory of assets and debts (home and property, bank and investment accounts, retirement accounts, pensions, business interests, vehicles, valuables)
- Supporting documents collected (deeds, titles, marriage or divorce records, business agreements, existing policies)
- Digital assets noted, with login credentials kept separately and securely
- A note of where original documents are kept, and who can access them
Estate Planning
The essentials that let your wishes be known and honored.
- A will in place and current, naming an executor and directing how assets are shared
- A durable power of attorney for finances, naming who acts if you cannot
- A health care power of attorney, or health care proxy
- A living will or advance directive expressing treatment preferences
- A HIPAA authorization so trusted individuals can access medical information
- Beneficiary designations reviewed on every retirement account, IRA, and life policy (these override the will, so they matter most)
- Care provisions noted for anyone who depends on you
- A letter of instruction for personal wishes (service preferences, treasured items, where things are kept)
- The plan reviewed within the last three to five years, or after any major life change
Trust Questions to Work Through
Worth a thoughtful conversation, whether or not a trust is right for you.
- Would a revocable living trust help avoid probate and keep matters private?
- Would a trust help manage things if you became unable to?
- Who would serve as trustee, and who would be the successor trustee?
- Would a professional or corporate trustee provide helpful continuity?
- Does anyone you love need added protection (special needs, creditor concerns, or other circumstances)?
- Do you wish to provide for grandchildren or future generations?
- Are retirement and qualified plan assets coordinated with the trust strategy?
- Is charitable giving a goal (a donor-advised fund, charitable trust, or foundation)?
- If a trust is created, have assets actually been retitled into it? An unfunded trust does nothing.
Wealth Management
Making resources last, and pass on wisely, across a long and full retirement.
- An income plan that comfortably covers expenses for many years
- A strategy for Required Minimum Distributions (the rules and ages have shifted recently, so confirm yours)
- A reviewed Social Security claiming approach
- Tax-aware sequencing of withdrawals across account types
- A Roth conversion review, where it makes sense
- An investment mix suited to your time horizon and comfort with risk
- Attention to cost basis and capital gains on appreciated or inherited assets
- A single, consolidated view of accounts so nothing is overlooked
- A gifting approach using the annual exclusion, if reducing the estate is a goal
Insurance
The right coverage protects both your care and the people who love you.
- Life insurance reviewed for need, amount, and current beneficiaries
- Long-term care coverage evaluated (one of the largest unplanned senior expenses)
- Medicare and any supplemental (Medigap) or Advantage plan reviewed each year
- Annuities reviewed for guaranteed income, if appropriate
- Homeowners and umbrella liability coverage current
- Auto and any specialty coverage reviewed
- Policy ownership checked (in some cases a trust should own a life policy)
This checklist is offered as a helpful starting point and a conversation guide. It is not legal, tax, or financial advice. Please review your particular circumstances with a qualified estate attorney, tax advisor, and financial advisor.
