will.com / Estate planning checklist
Estate planning checklist
A complete estate plan is more than a will. Here’s everything to have in place, and the tools to get there.
Last will and testament
Start hereNames who inherits your assets, who raises your minor children, and who manages your estate. The foundation of any estate plan.
- Names an executor to manage your estate
- Names a guardian for minor children (if applicable)
- Names primary and alternate beneficiaries
- Addresses specific gifts or property
- Signed in front of two witnesses
- Stored somewhere your executor can find it
Living trust
ImportantAvoids probate entirely. Assets in the trust transfer directly to your beneficiaries without court involvement. Faster, private, and often cheaper for your family. Most people who create a trust also need a backup will that catches any assets not in the trust.
- Trust document signed and notarized
- Successor trustee named
- Beneficiaries named with distribution instructions
- Real estate transferred into the trust (deed recorded)
- Bank and investment accounts retitled in the trust's name
- Pour-over will in place for assets not yet in the trust
Healthcare directive
ImportantNames someone you trust to make medical decisions if you can't speak for yourself, and records your wishes about life support, resuscitation, and pain management. Without one, your family may disagree about your care, or a court may appoint someone you wouldn't have chosen.
- Healthcare agent (medical proxy) named
- Alternate healthcare agent named
- End-of-life treatment preferences documented
- Organ and tissue donation wishes stated
- Signed according to your state's requirements
- Agent and doctor know where the document is stored
Power of attorney
ImportantNames someone you trust to manage your finances if you become unable to: paying bills, managing investments, handling real estate, filing taxes. Without one, your family must petition a court for guardianship, which is expensive, slow, and public.
- Durable financial power of attorney signed
- Agent (the person you choose to act for you) named
- Alternate agent named
- Scope of authority defined (broad or limited)
- Signed according to your state's requirements
- Agent knows where the document is stored
Beneficiary designations
CriticalYour IRA, 401(k), and life insurance policies transfer directly to whoever is named, completely bypassing your will. These designations override everything.
- Life insurance: primary and contingent beneficiary named
- IRA / Roth IRA: beneficiary reviewed and current
- 401(k) or 403(b): beneficiary reviewed and current
- Bank accounts: payable-on-death designation added (transfers directly to your beneficiary)
- Brokerage accounts: transfer-on-death designation added (bypasses the court process entirely)
Digital assets
ImportantEmail accounts, photos, cryptocurrency, social profiles, and subscriptions don't pass through a will automatically. Each platform has its own rules.
- Google Inactive Account Manager configured
- Apple Digital Legacy contact added
- Facebook Legacy Contact set
- Cryptocurrency: private keys / seed phrases documented securely
- Password manager in use, access documented for executor
- Domain names and websites: ownership transfer planned
Letter of instruction
RecommendedA companion to your will. Not a legal document, but often more practically useful. Tells your executor where everything is and what you want done.
- Lists all financial accounts and locations
- Documents digital account access (password manager, etc.)
- Names key contacts: attorney, accountant, financial advisor
- Covers funeral and burial preferences
- Notes location of important documents (will, deeds, titles, insurance)
- Includes guidance for pet care if applicable
Review and update
OngoingEstate plans go stale. Review yours after any major life event and at minimum every few years.
- Review after marriage or divorce
- Review after birth or adoption of a child
- Review after death of a beneficiary, executor, or guardian
- Review after moving to a different state
- Review after significant change in assets
- Review every 3–5 years even if nothing major has changed