Don’t put off your estate planning because it seems overwhelming or too hard.
Use this checklist to make the process simple.
Your Estate Planning Checklist
- Identify your physical and non-physical assets and debts
- Choose your beneficiaries
- Identify how you want your assets distributed
- Consider what provisions need to be made for any dependents
- Identify a guardian for children if needed
- Consider how any pets will be cared for
- Identify any gifts you want to make to charities or individuals
- Determine how you would like to be cared for and/or assets managed if you are unable or unavailable to make your own decisions
- Identify and list any organisations you belong to or memberships you have
- Consult an expert to make a high quality will and guide you through the remainder of the estate planning process
- Set up a Binding Death Benefit Nomination for your Super
- Nominate a beneficiary for life insurance
- Get advice about the tax consequences of how your assets are distributed
- Find out from an expert if setting up a Trust would suit your needs
- Make a succession plan for any business you own
- Make provisions for any potential challenges to your Will
- Appoint a General and Enduring Power of Attorney
- Identify a suitable Executor and an alternative Executor
- Consider developing an Advance Health Directive
- Identify your preferred aged care plan
- Nominate an residuary beneficiary, if the event the main beneficiaries aren’t living
- Consider whether you’d like to leave a legacy letter
- Identify where you’ll store your Will
- Provide copies of your Will to your Executor(s)
- Discuss your wishes with and advise family members and beneficiaries
- Make a plan for managing your digital legacy
- Make a funeral plan and advise family members of your wishes
- Keep your Will up-to-date.
Every person’s situation and Will is unique and we have the expertise to help navigate any complexities that exist or could arise.