Planning for the future isn’t just about your finances; it’s about peace of mind for you and your loved ones. Whether you’re already retired or just thinking ahead, a well-prepared estate plan ensures your wishes are honored, your assets are protected, and your family isn’t left scrambling. Don’t leave important decisions to chance. Instead, take control now with this easy-to-follow checklist for securing your legacy.

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Create a Will

A will is the cornerstone of any estate plan. It increases the likelihood that your assets go where you want them to, names guardians for minor children, and helps avoid legal confusion after you pass. Without a will, state laws decide how your estate is divided, which may not align with your wishes.

Writing a will doesn’t have to be expensive; you can start with a basic version online and later consult an attorney for complex matters.

Here are the best online will makers in 2025.

Establish a Living Trust

A living trust allows you to transfer assets to loved ones without going through probate court, which can be expensive and time-consuming. You retain control of the trust while you’re alive, and after your death, the assets go directly to your chosen beneficiaries. It’s especially helpful if you own property in multiple states or have a complex estate.

Unlike a will, a living trust can also help if you become incapacitated. It offers privacy, flexibility, and more control over how and when assets are distributed. Consider working with an estate planning attorney to set one up properly.

Set up a Power of Attorney

A power of attorney (POA) lets you appoint someone you trust to handle your financial matters if you become unable to do so yourself. This could include paying bills, managing investments, or handling taxes. Without a POA, your family might need to go to court to get permission to act on your behalf. You can choose a durable POA (which remains in effect if you’re incapacitated) and tailor it to your needs.

Make sure the person you choose is responsible, trustworthy, and willing to take on the role if needed.

Create a Healthcare Power of Attorney

A healthcare power of attorney allows you to designate someone to make medical decisions for you if you can’t speak for yourself. This person is often a spouse, adult child, or close friend and should understand your values and wishes regarding treatment, life support, and quality of life. This document goes hand-in-hand with a living will or advance directive, which outlines specific care preferences.

Choosing a healthcare agent provides peace of mind and avoids confusion or family conflict in a medical crisis. Review this designation regularly to ensure it still reflects your preferences and that your chosen agent remains willing to serve.

Plan for Digital Assets

In today’s world, estate planning isn’t complete without considering your digital assets. This includes everything from email and social media accounts to online banking, cloud storage, and even photos. Make a secure list of your accounts, usernames, and passwords, and store it somewhere accessible to your executor or a trusted family member. You can also use a digital password manager with emergency access features.

Proper planning prevents loved ones from struggling to close accounts or retrieve important digital records when you’re no longer around.

Create an “ICE” Binder

An “In Case of Emergency” (ICE) binder is a physical or digital folder that organizes all the key information your family would need if something happened to you. Include your will, trust documents, insurance policies, account numbers, passwords, contact information for advisors, and instructions for medical care or end-of-life wishes.

Think of it as a roadmap for your loved ones during a difficult time. Keeping everything in one place reduces confusion and stress and ensures nothing important gets overlooked. Store the binder in a secure spot and let at least one trusted person know where to find it.

Here’s more about In Case of Emergency binders.

Consider Long-Term Planning

Long-term care can be one of the biggest expenses in retirement. Planning for it early can help you protect your savings and make more confident decisions about your future. Look into long-term care insurance, Medicaid planning, or setting aside dedicated savings.

Some people choose to add long-term care instructions to their estate plans or explore options like hybrid life insurance policies with care benefits. It’s also wise to think about your housing situation, such as downsizing or moving closer to family might reduce care costs and improve quality of life later on.

Make Funeral or Burial Wishes Known

While it’s not a fun topic, sharing your funeral or burial preferences in writing can be a huge relief for your loved ones. Do you prefer burial or cremation? A traditional service or something simple? Prepaying for certain arrangements can also ease the financial burden.

Include these details in your ICE binder or in a letter alongside your will. Avoid putting them in the will itself since those are often read too late. Sharing your wishes removes guesswork for your family and ensures your send-off reflects your values, culture, and beliefs.

Review Your Plan Regularly

Estate planning isn’t a one-and-done task. Life changes can all affect your wishes and legal documents. Review your will, powers of attorney, trust, and beneficiary designations every few years to make sure everything is up to date. Also double-check that your named agents are still available and willing to serve.

Regular updates ensure your plan remains accurate and reflects your current intentions. It’s also a good chance to revisit conversations with family and advisors so everyone stays on the same page.

Talk to Your Family

The best estate plan in the world can still cause stress if no one knows about it. Sit down with your loved ones and explain your key decisions: who’s the executor, who has power of attorney, what your end-of-life preferences are, and where important documents are stored. These conversations may feel uncomfortable, but they prevent confusion, arguments, and hurt feelings down the road.

Be honest and clear and encourage questions. Your family doesn’t need to know all the details, but they should understand your intentions. Open communication is a gift that brings peace of mind to everyone involved.