Think about whether there is anyone you think should not have access to your money or property.Pick someone you want to handle your affairs after your death.Decide who should receive your property.Decide whether you’ll need a steady source of income after you retire.Determine whether you or your spouse will need long-term healthcare.You may need to use different resources for transferring or preserving your assets. Your Estate Planning Goalsįirst, you must know your goals. We’ll help you address these questions and more your estate planning checklist. Revise Any Documents Whenever Necessaryīut how do you know when your estate plan is complete? What are the necessary parts of an effective estate plan that will accomplish the goals you have set for your long-term financial and medical needs? Which part of the plan should you do first?.Provide Access to Digital Assets and Online Accounts.Assess the Tax Consequences for Any of Your Estate Plan Options.Anticipate Future Health Care and Medical Needs.Take an Inventory and Value Your Estate.You don’t want your family to worry about what property you own, whether you had a will, what bills need to be paid and more. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.Have you done everything you can to provide for your family after your death? You might not like to think about it, but you want everything for your family to go on as smoothly as possible after your death.
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Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. California residents: Annuities are subject to regulation by the State of California. State law may further impact your individual results. References to tax rates include federal taxes only and are subject to change. Figures cited in any examples are for illustrative purposes only. For such advice, please consult an attorney or tax advisor. The information on this website is not intended as legal or tax advice. Information contained herein was accurate at the time of posting. Simply contact the Gift Planning Office at 50 or to take the next step. We would be happy to talk to you about how you can further our mission with a gift. When you use your estate plan to support WSU, you are establishing a legacy of generosity. Take the time to inform your beneficiaries of their status to avoid surprises later. Work with your estate planning attorney to make any updates. Include a health care power of attorney to guide your family and health care providers when you are unable to make decisions for yourself.
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The underlying question: Does your plan meet your current goals? Use This Helpful Checklist Have you recently celebrated the birth of a new family member? Moved to a new state? Experienced a large financial windfall or a loss? Changed relationship status? They are all good reasons to review your estate plan. When life changes, your estate plan should too.