Digital estate planning checklist how to#

Financial durable power of attorney: A financial durable power of attorney (DPOA) gives you the ability to make financial decisions in your name and on your behalf if you’re unable to do so yourself.A healthcare Power of Attorney (POA) document - also known as a medical POA or healthcare proxy - assigns an individual of your choosing the power to make healthcare decisions for you if you can’t make them yourself. A living will: Also called a medical care directive, a living will outlines the medical treatments you do and don’t want to accept at the end of your life.An advance healthcare directive often contains two documents: a living will and healthcare power of attorney (POA). Advanced healthcare directive: Also known as an advanced directive, this legal document offers guidance on your medical treatments and healthcare services, should you become incapacitated.To help reduce the risk of your assets going to probate - which can be slow, costly, and not aligned with your wishes – be sure to include the following estate planning documents in your end-of-life strategy: Without an estate plan, a judge could make those decisions for you in probate court. It’s important that your estate plan clearly outlines your wishes regarding your assets and dependents.

Outline your wishes in your estate planning documents Most importantly, you and your team will create a plan that helps ensure your assets are distributed to the people and organizations you choose with as little confusion as possible.

Some of the professionals you may want to include on this team are a financial advisor, a tax professional, and an estate planning attorney to map out a complete, customized estate plan.Įach person on the team plays a critical role in the process and can provide invaluable legal and financial advice. Prioritize assembling an experienced team to help you create your estate plan. But these steps can help you get organized and begin the process with ease. The specifics will depend on your individual circumstances. There's no one-size-fits-all method for creating an estate plan.

Digital estate planning checklist how to#

Read on for 10 tips on how to create an estate plan like a pro. We created this estate planning basics guide to help make the process simpler. Creating a comprehensive estate plan can help protect your loved ones and your assets.Įstate plans are an essential part of your end-of-life plan, but the process can be complex - especially if you have a large number of assets. Estate planning is the process of organizing and arranging your assets to help ensure they’re transferred according to your wishes upon your death or incapacitation.