Estate planning sounds like something rich people do with lawyers in wood-paneled offices. It's not. Estate planning is making sure the people you love aren't destroyed — financially or emotionally — when you die. It's a will, a power of attorney, a list of passwords, and a conversation. This checklist puts everything in order of importance so you can start with what matters most and work your way down.
How to Use This Checklist
Don't try to do everything at once. Pick 2-3 items per weekend. The first 5 items are the most critical — start there. Items 6-10 are important. Items 11-20 are for completeness. Even finishing items 1-5 puts you ahead of 80% of Americans.
THE CRITICAL 5 — Do These First
1. Make a will
Decides who gets your assets, who raises your kids, and who manages the process. Without one, a court decides everything.
- Online: $69-$199 | Attorney: $300-$1,000
- Time: 30 minutes online
2. Cover your funeral costs
The funeral bill ($7,848+) arrives within 7 days of your death. If nobody's prepared, your family scrambles for $10,000+ during the worst week of their lives.
- Final expense insurance: $30-$70/month, pays in 24-72 hours
- Prepaid funeral plan: pay the funeral home in advance
- Dedicated savings: $10,000-$15,000 earmarked
3. Create a power of attorney (financial)
Names someone to manage your money if you become incapacitated. Without one, your family goes to court for conservatorship ($3,000-$10,000).
- Included in most online will packages ($69)
- Two types needed: financial POA + healthcare POA
4. Create an advance directive (living will)
Tells doctors what medical treatment you want if you can't speak. Life support? CPR? Feeding tube? Without this, your family makes impossible decisions under pressure.
- Included in most online will packages ($69)
- Also called: living will, healthcare directive
5. Name a guardian for minor children
If you have kids under 18 — this is non-negotiable. Without a guardian designation, a judge decides who raises your children.
- Done inside your will — not a separate document
- Name a primary AND backup guardian
- ASK the person before naming them
THE IMPORTANT 5 — Do These Next
6. Update ALL beneficiary designations
Your 401k, IRA, life insurance, and bank accounts go to whoever is listed as BENEFICIARY — regardless of what your will says. If your ex-spouse is still listed, they get the money.
- Check: retirement accounts, life insurance, bank accounts (POD), investment accounts (TOD)
- Takes 30 minutes per account
7. Consider a trust (if you own a home)
A trust avoids probate ($3,000-$15,000 in court costs). If you own a home, a trust almost always pays for itself.
- Online: $159 (Trust & Will) | Attorney: $1,500-$3,000
- Not needed if you rent and have simple finances
8. Organize your financial accounts
List every bank account, retirement account, investment, debt, and insurance policy. Your executor needs this list — without it, they spend weeks searching.
- Put it in a folder labeled "If Something Happens to Me"
- Tell ONE person where the folder is
9. Get life insurance (if people depend on your income)
Your will distributes assets. Life insurance CREATES assets. If your spouse, children, or anyone else depends on your income — they need a death benefit to replace it.
- Term life: $20-$100/month for $250K-$1M coverage (ages 25-50)
- Final expense: $30-$70/month for $5K-$25K coverage (ages 50-85)
10. Document your funeral wishes
Burial or cremation? Which funeral home? Songs? Readings? Open casket? Write it down. Every decision you make is one your family doesn't agonize over.
THE COMPLETENESS 10 — Do These When Ready
11. Create a digital estate plan
List your passwords, phone PIN, email login, social media accounts. Store in a sealed envelope labeled "Digital Access — Open After My Death."
12. File a transfer-on-death deed for your home ($50-$200)
If you don't want a full trust, a TOD deed transfers your home directly to a named person at death — skipping probate entirely. Available in ~29 states.
What is probate? →13. Review your estate plan every 3-5 years
Major life changes require updates: marriage, divorce, birth, death, home purchase, moving to a new state, significant change in assets.
14. Understand what debts die with you — and what don't
Your family is generally NOT responsible for your individual debts. But co-signed debts, joint accounts, and the funeral contract ARE their problem.
Am I responsible for parents' debt? →15. Have the conversation with ONE person
"I've organized my affairs. Here's where everything is. Here's what I want." One person. Five minutes. The most important conversation you'll ever have.
How not to be a burden →16. Name your executor — and tell them
Choose someone trustworthy, organized, and willing. Give them a heads-up: "I've named you executor in my will. Here's what that means."
17. Consider long-term care planning
Medicare doesn't cover nursing home care. Medicaid requires spending down assets. Long-term care insurance is one option — research it while you're healthy enough to qualify.
18. Write a letter to your family
Not a legal document. A personal letter. "What I want you to know." "What I'm most proud of." "I love you." Found after you're gone, this letter becomes the most treasured thing your family owns.
What my family needs to know →19. Organize your physical space
Your family will clean out your house. The less clutter, the less burden. Regularly declutter. Label important items. Don't leave 30 years of unsorted boxes for your children.
How to clean out a deceased person's house →20. Address your pets
Name a pet guardian. Leave funds for their care. Don't leave your dog's fate to chance.
Where Are You on This List?
Items 1-5 complete?
You've done more than 80% of Americans. Your family is protected from the worst outcomes.
Items 1-10 complete?
You have a comprehensive plan. Your family knows what to do, how it's paid for, and what you want.
Items 1-20 complete?
You've given your family the greatest gift: complete clarity and zero guesswork during the worst time of their lives.
Most people never finish all 20. That's okay. Even finishing item #1 (making a will) puts you ahead of 67% of adults who don't have one. Start there. Do what you can. Come back to this list when you're ready for the next item.
One Purchase. Five Items. 30 Minutes.
Items 1, 3, 4, and 5 on this checklist are ALL included in one $69 package:
| Checklist Item | Document | Trust & Will ($69)? |
|---|---|---|
| #1 Make a will | Last will and testament | ✅ |
| #3 Power of attorney | Financial POA | ✅ |
| #4 Advance directive | Healthcare directive | ✅ |
| #5 Guardian designation | Inside the will | ✅ |
| #2 Funeral costs | Final expense insurance | Separate — call 1-855-321-3094 |
Four of your first five items. One purchase. 30 minutes. $69.
Complete Items 1, 3, 4 & 5 — $69 at Trust & Will
Will + power of attorney + advance directive + guardian designation. State-specific. 30 minutes.
Create Your Documents at Trust & WillAffiliate link · Will + POA + directive + guardian designation · We may earn a commission
Item #2: Cover the Funeral Bill
Final expense insurance: $30-$70/month. No medical exam. Pays your family in 24-72 hours.
📞 Call 1-855-321-3094Ad · Licensed agents · We may earn a referral fee
Print it. Put it on the fridge. Check items off as you go. One item at a time.