Estate planning is a process that involves making decisions for the future regarding your assets, finances, and medical care. However, to ensure that your wishes are carried out properly, it is crucial to have a comprehensive estate plan in place. That is why below, we have prepared an estate planning checklist that is designed to help you with that process. By using this checklist, you can stay organized and ensure that you have everything you need to protect yourself and your loved ones.

estate planning checklist

Take Inventory of All The Things You Have

The first step in creating an estate plan is to take stock of everything you own. This involves making a comprehensive list of all your assets and liabilities, including their current values and any relevant details. Just remember, everything you own is considered a part of your estate, no matter how modest something may be.

To get started with this inventory plan: 

  • Make a list of your personal items and property, including any real estate you have, motor vehicles, artwork, and even jewelry, and then include the value of each item
  • Obtain recent statements from your brokerage, bank, and retirement accounts
  • Write out all the locations of your safes and safety deposit boxes, and indicate what is inside them
  • Create a list of all the insurance policies you have, and indicate their cash values and death benefits
  • List all of your liabilities, such as your debts or mortgage

Meet With a Louisiana Estate Planning Attorney and Review Your Goals

Before creating your estate plan, there are some issues and questions you will want to review with an experienced estate attorney to better help you understand what you need to do to settle your affairs.  For example, consider the following questions:

  • Who do you want to inherit your property and other assets?
  • Who will take care of your minor children if something should happen to you?
  • Who will be responsible for managing your financial affairs if you become incapacitated?
  • Who will be responsible for distributing the assets you have?

Create Your Estate Plan and Update It Regularly

When you are ready to draft your estate plan, schedule a meeting with your estate planning attorney. These legal professionals can guide you through the process and help you make informed decisions that align with your specific needs and goals. 

They can also advise you on the various options you have for transferring your assets to your beneficiaries. 

However, once your estate plan is created, make sure you continue to review it regularly. This can ensure that if your circumstances have changed, your plan will continue to reflect your current needs and wishes. 

Create Your Estate Plan Today, Contact Losavio & DeJean, LLC

For more information about creating an estate plan in Louisiana, or if you want further details regarding the estate planning process, contact  Losavio & DeJean, LLC today to talk to a member of our legal team and learn how we can help you plan for the future.