General Issues to Address as You Review this Estate Planning Checklist This exercise can help you clarify what is most important and create a unique definition of success that is aligned with your values. I highly recommend completing this exercise, Defining True Wealth, as a starting place for considering what type of estate plan will support your unique definition of success. While financial planning can be a useful piece of quantitative data to take into creating your estate plan, I’m fond of reminding folks that financial planning, at its best, considers both the technical and the emotional aspects of life.

Asset allocation and investment strategies.

Exploring vehicles for giving, such as donor-advised funds, foundations, trusts, etc.

IRS rules regarding gifting and estate taxes.

Assessing the impact on retirement plans and preparations.

Life insurance coverage, reviews, and adjustments.Some of the financial implications impacted by estate planning include: While I am not an estate planning attorney, the nature of my work with client families extends our conversations beyond planning and living for today into the future and the legacy that we’re all building every day. The Financial and Emotional Implications of Estate Planning

It involves deciding how your assets should be distributed, who will manage your affairs, and how you want to be medically treated in case of incapacity. I recommend listening to this recording while on a walk, then printing and reviewing our estate planning checklist as a guide to help create an estate plan that’s right for you. Understanding Estate PlanningĮstate planning is creating a clear and legally binding roadmap for managing and distributing your assets, including property, investments, and personal belongings, in the event of your death or incapacitation. In this comprehensive guide, I’ll walk you through an essential estate planning checklist to help you make informed decisions as you meet with your estate planning attorney. Your estate plan isn’t just about distributing your assets it’s also about ensuring your loved ones are taken care of, your wishes are honored, and potential complications are avoided. An Estate Planning Checklist for Your Head and Heart

Financial checklist for estate planning