How to plan your estate: a 10-step checklist
Most people agree that estate planning is important. The Trust & Will 2026 Estate Planning Report found that while 73% of Americans say estate planning is personally important to them, only 26% have even a basic will in place—and 56% have no estate planning documents at all.¹
The gap between awareness and action is understandable. Nobody looks forward to planning for their own absence. But estate planning is, at its core, an act of kindness for the people you love. Making these decisions now means your family won't have to make them later, often when grieving and under enormous stress. That type of planning is a gift.
Estate planning is much more than just your finances. It's about making sure your wishes are known, your family has what they need and the people you trust are prepared to act on your behalf. The good news is that getting started doesn't have to be overwhelming. These ten steps can help you get organized, and working with an estate planning attorney is worth the investment when preparing such important documents.
An estate planning checklist
Whether you're building an estate plan for the first time or revisiting one you put together years ago, these ten steps are worth a fresh look. Circumstances change, families evolve and an estate plan that made sense a decade ago may need updating today.
1. Review or update your beneficiary designations.
Beneficiary designations are one of the most important elements of an estate plan. The names you have listed on your retirement accounts, life insurance policies and other financial accounts will supersede whatever your will says, so keeping them current is essential. A beneficiary designation made decades ago, before a marriage, divorce or the loss of a loved one, may no longer reflect your wishes. Review each account and policy, add or update names as needed and make a habit of revisiting these designations whenever a significant life change occurs.
2. List your memberships, subscriptions and passwords.
Family members frequently struggle to access a loved one's online accounts after death simply because they don't know where to look or what the login credentials are. A running list of memberships, subscriptions and passwords—kept somewhere secure but accessible to the right people—can spare your family significant frustration at an already difficult time. Include account usernames and passwords, any automatic subscription services and your computer or device passwords as well.
3. Designate your estate executor or administrator.
Your executor is the person responsible for carrying out your wishes after you're gone—filing your will with the probate court, settling debts and overseeing the distribution of your assets. It's a role that requires not just trust, but also the practical ability to handle administrative responsibilities during a difficult time. Many people default to a spouse, and that's often a reasonable choice, but it's worth thinking through carefully. Consider the likely emotional state of your executor after your death, their own capacity for handling financial and legal details and their ability to set aside personal feelings and follow your plan as written.
4. Talk to your family.
As your plan takes shape, the people closest to you should be part of the conversation. Your loved ones should know where to find all the components of your estate plan—your will, your policies, your account information and any other relevant documents. This is also a chance to share the thinking behind your decisions. Talking with your family about how you're planning your estate, and why, gives them a chance to ask questions and hear your wishes firsthand. They may even raise things you haven't considered.
5. Complete your other essential documents.
A will is the foundation of any estate plan, but it isn't the only document your family may need. A durable power of attorney designates someone to manage your financial affairs if you become unable to do so. A healthcare proxy—sometimes called a living will or advance directive—documents your medical wishes and designates someone to make healthcare decisions on your behalf. If you have minor children, guardianship designations ensure the people you choose are legally empowered to care for them. You may also want to take pets into consideration, as family pets often get overlooked.
6. Inventory your physical assets.
When your key people and documents are in place, it's time to take stock of what you own. Your family will need certain items outlined in order to carry out your wishes, and the more specific you can be, the easier that process will be for them. Walk through your home and property and make note of valuable items or heirlooms—real estate, jewelry, art, collectibles and vehicles. If you have specific wishes about who should receive specific items, note that alongside each one. A detailed list of tangible items makes things easier for the people carrying out your wishes and takes the guesswork out of a process that can otherwise become a source of family friction.
7. Inventory your financial accounts and policies.
Your executor will need a clear picture of your financial landscape to settle your estate efficiently—and tracking down scattered accounts and policies is harder than it sounds. Keep a list of your retirement accounts, bank accounts and investment accounts, along with your insurance policies: life, long-term care, home and auto. For each one, note the account issuer, account number and contact information for the carrier or agent. If you have physical copies of any policies, keep them together in a central location and make sure your family knows where to find them.
8. Document your debts.
Debt doesn't disappear when you die, and your family will need to know what you owe in order to settle your estate properly. List all outstanding debts—mortgages, car loans, personal loans, credit cards and any home equity lines of credit—along with account numbers and contact information for each lender. While this isn't a pleasant task, it's an important one. The last thing your loved ones need is to discover an outstanding debt they weren't expecting or to have one surface during the settlement of your estate.
9. Simplify your finances.
The easier your financial picture is to navigate, the easier it will be for your family to manage after you're gone. As you take inventory of your retirement accounts and financial policies, look for opportunities to consolidate. Multiple IRAs or old 401(k)s from previous employers can often be rolled into a single account, and consolidating where it makes sense can reduce complexity for both you and your executor. This is also a good moment to review whether any accounts could be moved into better-performing options.
10. Talk to your financial professional.
Think you have it all covered? A financial professional can help you make sure. Estate planning touches nearly every aspect of your financial life—your accounts, your insurance, your tax strategy and your legacy—and a financial professional brings an outside perspective. Whether you're building your estate plan for the first time or reviewing one that's been in place for years, a conversation with someone you trust can uncover gaps or reveal opportunities you may not have considered. Getting your estate in order is one of the most valuable things you can do for the loved ones you leave behind.
Estate planning doesn't have to be stressful
Estate planning isn't about dwelling on the end. These plans and conversations are continuing your legacy by making sure the people you care about are taken care of when you're no longer able to. The ten steps outlined here don't have to happen all at once, and you don’t have to do the planning alone. Talk to your financial professional about where to begin, or where to pick back up.