14-Point Estate Plan Checklist

Many Americans have estate plans that are incomplete or don’t address important issues.

A story on marketwatch.com lists a 14-point checklist to help create a sound estate plan.

The first thing it recommends is to find a qualified estate planning attorney and a financial advisor.

The things your plan should include are:

  • A will.
  • A durable power of attorney.
  • A power of attorney or proxy for health care.
  • A revocable living trust.
  • A form where you list all your assets and where they are located.
  • A do-not-resuscitate (DNR) order written by a doctor.
  • A legacy letter where you pass on your values to the next generation.
  • A discussion with your attorney about whom you want to receive your assets.
  • A decision on who you want making medical decisions on your behalf if you are incapacitated.
  • A list of how you want your assets distributed.
  • A decision on whether you want to name a guardian for any minor children.
  • A discussion on the tax consequences of your estate plan.
  • Review steps necessary to protect online information.
  • Letters to your spouse and family concerning your wishes about life support.

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