Estate Planning Essentials - Six Easy Steps to Get Started

Sep 15, 2026

Uploaded by Dipper

Estate Planning Essentials outlines a practical six-step approach to help individuals prepare for major life events and retain control over health and financial decisions. The guide emphasizes completing a planning quiz, executing health and financial powers of attorney, establishing a will, and maintaining a companion letter of instruction for heirs. It also covers reviewing beneficiary designation forms, considering charitable goals, and understanding how asset transfers can affect taxes, using clear guidance to keep documents current.

LanguageEnglish

CategoryLetters

FormatPDF

Pages6

Reading Time2 min

AccessFree to download

Estate Planning Essentials

Take the Planning Quiz

Execute Powers of Attorney (POAs) for Health and Financial Matters

Establish a Will

Review Your Beneficiary Designation Forms

Consider Your Charitable Goals

Using the Right Words

ESTATE PLANNING ESSENTIALS ESTATE PLANNING ESSENTIALS six Easy stEps to GEt startEd You owe it to yourself and your family to make sure that you are prepared for the many events in life that are out of your hands, like changes to tax laws as happened on January 1, 2013. Planning gives you control, af- fords you the opportunity to provide for loved ones, for your community, and for the causes you care about, like Earthjustice. And it’s easy to do. This brochure presents six easy steps that will put you on the right path. 1. TAKE THE PLANNING QUIZ To get started, take this short planning quiz. Have you welcomed a new child or grandchild? oYes oNo | Have you moved to a new state?
oYes oNo | | --- | | Has your marital status changed?
oYes oNo | | Are you wondering if tax law changes affect you?
oYes oNo | | Have you changed jobs?
oYes oNo | | Have you overlooked including your charitable priorities in your plans?
oYes oNo | | Has it been three or more years since you last reviewed your plans?
oYes oNo | If you answer “Yes” to any of the questions, it’s time to create or review your plans . ESTATE PLANNING ESSENTIALS 2. Execute Powers of Attorney (POAs) for Health and Financial Matters A POA is a written legal document that names the person who will make health care or financial decisions for you if you become incapacitated. This person will talk to doctors and your health care team or to your financial advisorson your behalf and make decisions according to your direction. l Choose someone who knows you very well, who cares about you and who can make difficult decisions. l Choose someone who is likely to be nearby, so that he or she can help when you need them. l Make sure your healthcare POA is compliant with federal health information privacy laws, so that doctors, hospitals, and insurance companies can speak with your designee. No matter whom you choose for these important responsibilities, make sure you talk about your wishes and that the person agrees to respect and follow them. ESTATE PLANNING ESSENTIALS 3. Establish a Will Dying without a will means losing control of how your assets are distributed. If you don’t have a plan, the state and/or federal government will implement their plan for you. A will allows you accomplish three important things: l Transfer your assets to heirs and to the causes you care about. l Provide for guardianship of minor children. l Name an executor, the person who will carry out your will’s instructions and has the important job of settling your estate. As a companion to your will, you may want to create a “letter of instruction.” This document, while non-binding legally, gives your heirs information crucial to helping them tie up your affairs. Without such a letter, it can be easy for heirs to miss important items or become overwhelmed trying to sort through all of the documents you left behind. The following are some items that can be included in your letter: l A list of people to contact when you die anda list of beneficiaries of your estate plan. l The location of important documents, such as your will, insurance policies, financial statements, deeds, and birth certificates. l A list of assets, such as bank accounts, investment accounts, insurance policies, real estate holdings, and military benefits. l Passwords and PIN numbers for online accounts. l The location of any safe deposit boxes. 3 Ways to Include a Bequest for Earthjustice To leave the majority of funds to your loved ones, name Earthjustice the beneficiary of a specific amount or percentage of your estate. To leave Earthjustice what’s left after loved ones are provided for, use a residuary bequest. To leave your estate to family and friends, unless you outlive one of your beneficiaries, use a contingent bequest. This is often used by husbands and wives who stipulate that if the other spouse is not living, then the bequest specified for that spous

FAQs

What is the purpose of the estate planning quiz in this guide?

The quiz helps you identify life changes and planning gaps, such as new dependents, moves, marital status changes, tax law impacts, job changes, charitable priorities, and whether your plans are outdated. If you answer “Yes” to any question, it’s time to create or review your plans.

What does a power of attorney (POA) cover?

A POA is a written legal document that names someone to make health care or financial decisions if you become incapacitated. Your designee works with doctors, hospitals, financial advisors, and must follow your directions.

Why review beneficiary designation forms?

Many assets transfer based on the beneficiary forms completed when accounts were set up, so they should be periodically reviewed to ensure the form on file matches the form held by the account administrator. Retirement plans may also create tax liability, making review important.

Sep 15, 2026

Uploaded by Dipper