Your Estate
- Start by reviewing estate
assets and debts
- Decide where you
want assets to go
- Start work with financial
planner and attorney
- Draft or update will
- Choose qualified
executor for will
- Choose guardians
for children
- Secure a durable
power of attorney
- Draft a living will
- Obtain medical
power of attorney
- Consider creating
one or more trusts
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- Review ownership of assets
- Review insurance for
protection of estate assets
- Consider annual gifting
- Consider paying heirs’
tuition or medical bills
- Determine whether to sell or
pass on family business
- Plan for succession
of business
- Discuss estate plan with
heirs, and revise if
appropriate
- Write letter of instruction
- Keep organized
financial records
- Review estate plan
periodically
- Coordinate estate plan with
qualified estate planning
attorney and financial planner
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Editorial provided by the Financial Planning Association® (FPA®)
Baltimore
