Estate Planning Checklist
There is an emotional component to estate planning that can be managed by setting consistent boundaries. Defining your parameters will make it easier to set priorities, explain your decision-making process and manage expectations. Each plan is highly personalized and should align with your financial values and gifting strategies. It is essential to create a formal will to communicate how your estate should be distributed upon your death, provide the basis for the probate process and serve as a guide for your heirs.
You may also choose to consider writing a letter of Instruction. Though this document carries no legal status, it can serve as a roadmap to help your loved ones settle your estate. Unlike a will, which must follow legal guidelines for your state and may require an attorney, a letter of instruction can be written by yourself to communicate a variety of important topics including: