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Essential Steps for a Complete Estate Plan


Laws and family circumstances change. Have you reviewed your estate plan lately? Below are some steps to ensuring a complete estate plan:

  • Make a complete and accurate inventory of all assets and their values.
  • Determine the form of ownership of each asset; understand its effect on the transfer of property at death.
  • Estimate the size of the estate to determine whether estate tax planning is needed.
  • Decide whether certain family members or assets need special protection.
  • Verify beneficiary designations on life insurance policies and retirement accounts.
  • Select beneficiaries and determine what provisions should be made for each.
  • Determine how financial and health care decisions will be made in the case of illness or disability.
  • Determine how health care will be funded.
  • Estimate the cost of alternative estate planning methods that will meet your goals.
  • Select and implement the estate plan.