The Simple Estate Plan Checklist for Everyday Families

When you hear the term estate planning, it might sound like something reserved for the wealthy or those with sprawling properties and complex assets. But in reality, estate planning is something every family should consider—no matter your income, the size of your estate, or your stage of life.

At its core, an estate plan is simply a way to make sure your wishes are honored, your loved ones are cared for, and your financial affairs are in order—both during your lifetime and after you're gone.

If you’ve been putting off creating a plan, or you’re not sure where to begin, this simple checklist can help get you on the right track.

1. A Will

Your last will and testament is the foundation of your estate plan. It outlines:

• Who will inherit your assets

• Who will care for your minor children (if applicable)

• Who you want to serve as executor (the person who carries out your wishes)

Even a basic will can go a long way in helping prevent confusion or legal headaches for your family later on.

2. Power of Attorney

A financial power of attorney allows someone you trust to handle your financial matters if you're unable to do so yourself due to illness, injury, or age. This can include:

• Paying bills

• Managing accounts

• Handling real estate or legal matters

Without one, your loved ones may have to go through the courts to help manage your affairs.

3. Healthcare Directive

Also called a living will or advance directive, this document outlines your medical wishes if you become unable to speak for yourself. It can include preferences on:

• Life support

• Resuscitation

• End-of-life care

You should also name a healthcare proxy—someone you trust to make medical decisions on your behalf.

 4. Beneficiary Designations

Some accounts—like retirement accounts, life insurance policies, and bank accounts—allow you to name beneficiaries directly. These designations override what’s in your will, so it’s essential to keep them up to date.

Take a few minutes to review:

• 401(k)s and IRAs

• Life insurance policies

• Payable-on-death (POD) or transfer-on-death (TOD) accounts

 5. A List of Assets and Accounts

One of the most helpful things you can do for your family is to leave behind a clear list of your accounts and assets, including:

• Bank and investment accounts

• Property and real estate

• Insurance policies

• Debts or liabilities

• Contact information for professionals (like your financial advisor or attorney)

It doesn’t need to be fancy—just accurate and easy to find.

6. Consider a Trust (if it fits your needs)

While not everyone needs a trust, they can be helpful in certain situations—especially if:

• You have minor children

• You want to avoid probate

• You’d like more control over how and when your assets are distributed

A trust can be a valuable tool, and it’s worth discussing with your financial advisor or attorney to see if it makes sense for your situation.

Estate Planning Doesn’t Have to Be Complicated

Creating an estate plan isn’t about how much money you have—it’s about making thoughtful decisions for the people and life you care about most.

If you haven’t started yet, this checklist can serve as a guide to the most essential pieces. And if you’ve already started, it’s always a good idea to revisit your plan every few years or after major life changes.

Ready to Take the Next Step?

Estate planning can feel overwhelming, but you don’t have to do it alone. If you’d like to review your estate plan or need help getting started, be sure to reach out to your financial advisor.

*Infinitas does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation.