Last Will and Testaments. Your will is the foundation of your estate plan. It outlines who will inherit your assets, including personal property, money, and real estate.
- Name guardians for minor children or pets
- Choose an executor (the person responsible for carrying out your wishes)
- Make specific gifts to loved ones or charities
Revocable Living Trust. A trust holds legal ownership of your assets while you're alive, and allows them to transfer directly to your beneficiaries upon your death. Unlike a will, it doesn't go through probate, making the process faster and more private. Trusts are typically created with the help of an estate attorney. While not everyone needs a trust, it can be useful if you have: Significant assets or multiple properties, A blended family, or complex inheritance wishes, or A desire to avoid probate or keep distributions private.
Advance Healthcare Directive (AHD)/Living Will. This document allows you to: Outline your preferences for medical care (e.g., life support, resuscitation, feeding tubes). Designate a healthcare agent (someone who can make decisions for you if you're incapacitated.) Having an AHD means your loved ones aren’t left guessing about your wishes — they can confidently advocate for your care based on your instructions.
Financial Power of Attorney (POA) A Financial POA allows you to authorize someone to act on your behalf to:
- Pay your bills.
- Manage or sell real estate.
- Handle your banking and investment decisions.
Insurance Policies & Financial Account Information: Make a master list of key accounts and policies. Include account numbers, login info, contact numbers, and any relevant policy paperwork. Store this in a secure location and let a trusted person know where to find it.
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Including:
- Life, health, auto, home, long-term care insurance.
- Bank accounts, retirement accounts, brokerage accounts.
- Credit cards, loans, and mortgage details.
Proof of Identity Documents
- Social security card
- Birth certificate
- Marriage license or divorce decree
- Passport
- Military discharge papers (If applicable)
- Any prenups or legal agreements
Property Deeds & Vehicle Titles Make sure these documents reflect current ownership — especially if you’ve added or removed someone’s name. If a trust is used, titles should be updated to list the trust as the legal owner. Keep physical or digital copies of:
- Real estate deeds ( homes, land, vacation properties)
- Car, boats, RV titles
- Timeshares or rental property agreements
Digital Assets and Passwords, Funeral Instructions & Final Wishes
- Log in for email, social media, and cloud storage
- Online banking, investment platforms, and bill pay accounts
- Subscription services and digital wallets
- Loyalty programs and cryptocurrency accounts
Beneficiary Designations: Some of the most valuable assets you own may not be governed by your will. Instead, they pass directly to whomever you’ve named as a beneficiary.
- These non-probate assets include:
- 401(k), 403(b), or other retirement plans
- Traditional or Roth IRAs
- Life insurance policies
- Payable-on-death (POD) bank accounts
- Transfer-on-death (TOD) investment accounts
- Certain annuities
- To ensure these assets go to the right people: Contact each institution to update your designations
- Name both a primary and a contingent (backup) beneficiary
- Use full legal names (avoid vague terms like "my children")
- Revisit your designations after major life changes like marriage, divorce, or the birth of a child
- Remember: these override your will, so accuracy is critical
- If no beneficiary is listed — or if the named person has passed away — the asset could end up in probate, defeating the purpose of avoiding it altogether.
Final Tip- Revisit your plan every 3-5 years. Reevaluate your documents every few years or after major life events such as Marriage or Divorce, Birth or adoption of a child, Death of a loved one, Major financial changes, or a move to a new state.
