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#ESTATE PLANNING CHECKLIST AARP HOW TO#

Debt accounts for personal loans, mortgages, auto loans, and credit cards.A thorough list of your assets, like property, valuables, cash, and investments.Include the following accounts and details: To help your loved ones access and manage your assets after you pass, you should create a master list of all of your accounts and passwords.

#ESTATE PLANNING CHECKLIST AARP HOW TO#

You should also specify how to pay for the costs of your funeral and remains processing-whether you set aside funds in a specific account, sell a valuable asset, or place cash in a safe or lockbox. While you can assign this to the executor of your will, you can reduce their workload by appointing someone else. You should also assign one or more loved ones by name, if possible, to organize your funeral.

Cremation and storage/spreading of your ashes.

Embalming, burial and where you want to be buried.

You should also decide what you want to do with your remains, like: If you want a funeral, consider some of the following stipulations: To help your loved ones act per your wishes after you pass, you should create a detailed list of your desired funeral arrangements (if you want to have a funeral) and direct loved ones to handle your remains. If this is the case, you should create a DNR detailing your wishes if you’re unable to advocate for yourself at the time.

Do Not Resuscitate order (DNR) – Once you reach a certain age, you may wish not to be resuscitated if you experience a potentially fatal medical condition.Power of attorney – Be sure to assign a responsible friend or family member to make decisions for your medical care (a medical power of attorney) or your finances (a financial power of attorney) in case of incapacity.Living trust – When you pass, you can use the proceeds of your estate to fund one or more trusts-secure, regulated asset accounts that stipulated relatives can withdraw funds from per your wishes.It should stipulate who will manage your estate after you die (the executor) and how the executor should disburse your estate. Will – A will lists your wishes regarding your assets, properties, outstanding debts, and personal items.Consider preparing the following documents: Estate documents help your friends, family, and medical providers act per your wishes after your pass on. Prepare estate documentsĪrguably most important components of an end of life planning checklist besides an official death certificate, are estate documents. After reading, you’ll be prepared to get the ball rolling on your end of life planning. In this article, we’ll explore a few crucial components of an end of life planning checklist, a document that you can use to complete the process thoroughly and efficiently. Whether you’re making plans for yourself or a loved one, end of life preparation will help you, your family, and your friends respond to your passing according to your wishes.īut, the process can sometimes seem overwhelming-by the time you reach old age, you’ll likely have diverse assets, specific wishes for certain properties and possessions, and strong preferences for your funeral or remains. It can be overwhelming to figure out what to do when someone dies.