Basic Will

In a will, the most basic estate planning document, youspell out who gets your stuff when you die (otherwise the state decides, andit’s not always your spouse... [+]

1 of 10

","isLongCaption":true,"shortenedCaption":"

In a will, the most basic estate planning document, you\nspell out who gets your stuff when you die (otherwise the state decides, and\nit’s not always your spouse... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/a390d5b61846517470804e8d98da19d6/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/a390d5b61846517470804e8d98da19d6/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/a390d5b61846517470804e8d98da19d6/0x0.jpg?format=jpg&width=1200","title":"Basic Will","height":0.7,"layout":"responsive","isVertical":false,"position":0,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/basic-will/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=10%20Must%20Have%20Estate%20Planning%20Documents&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fbasic-will%2F%0A%0A10%20Must%20Have%20Estate%20Planning%20Documents%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fbasic-will%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2Fa390d5b61846517470804e8d98da19d6%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=10%20Must%20Have%20Estate%20Planning%20Documents&caption=www.forbes.com&description=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EIn%20a%20will%2C%20the%20most%20basic%20estate%20planning%20document%2C%20you%0Aspell%20out%20who%20gets%20your%20stuff%20when%20you%20die%20(otherwise%20the%20state%20decides%2C%20and%0Ait%E2%80%99s%20not%20always%20your%20spouse%20and%2For%20kids)%2C%20and%20who%20takes%20care%20of%20minor%20children%0A(otherwise%20a%20judge%20decides).%20Name%20an%20executor%2C%20who%20will%20administer%20your%20estate%2C%0Aand%20make%20sure%20he%20or%20she%20has%20a%20copy%20of%20your%20will%20and%20other%20pertinent%20documents.%3C%2Fp%3E%0A%0A%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fdiv%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fbasic-will%2F&via=forbes&text=10%20Must%20Have%20Estate%20Planning%20Documents","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fbasic-will%2F&title=10%20Must%20Have%20Estate%20Planning%20Documents&summary=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EIn%20a%20will%2C%20the%20most%20basic%20estate%20planning%20document%2C%20you%0Aspell%20out%20who%20gets%20your%20stuff%20when%20you%20die%20(otherwise%20the%20state%20decides%2C%20and%0Ait%E2%80%99s%20not%20always%20your%20spouse%20and%2For%20kids)%2C%20and%20who%20takes%20care%20of%20minor%20children%0A(otherwise%20a%20judge%20decides).%20Name%20an%20executor%2C%20who%20will%20administer%20your%20estate%2C%0Aand%20make%20sure%20he%20or%20she%20has%20a%20copy%20of%20your%20will%20and%20other%20pertinent%20documents.%3C%2Fp%3E%0A%0A%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fdiv%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fbasic-will%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":0,"numSlides":10,"slideNum":1,"slideID":"slide-1","isRegularSlide":true},"slug":"basic-will","id":"7ifji2gfhe6g00"},{"scope":{"credit":"","caption":"

For life insurance policies and retirement accounts, including Individual Retirement Accounts and 401(k)s, the beneficiary form you fill out when you take out the policy or open the account determines who gets the payouts when you die unless you’ve updated it. Not your will! Make sure your beneficiary forms are up to date, and keep copies. [-]

With a healthcare power of attorney (or health care proxy), you authorize someone (your agent) to make medical decisions for you if you are unable. Make sure it... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/2ad010f8ea045a545c7eb8fd1baecf9c/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/2ad010f8ea045a545c7eb8fd1baecf9c/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/2ad010f8ea045a545c7eb8fd1baecf9c/0x0.jpg?format=jpg&width=1200","title":"Power of Attorney: Healthcare","height":0.7,"layout":"responsive","isVertical":false,"position":3,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/power-of-attorney-healt/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=Power%20of%20Attorney%3A%20Healthcare&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fpower-of-attorney-healt%2F%0A%0APower%20of%20Attorney%3A%20Healthcare%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fpower-of-attorney-healt%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2F2ad010f8ea045a545c7eb8fd1baecf9c%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=Power%20of%20Attorney%3A%20Healthcare&caption=www.forbes.com&description=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EWith%20a%20healthcare%20power%20of%20attorney%20(or%20health%20care%20proxy)%2C%20you%20authorize%20someone%20(your%20agent)%20to%20make%20medical%20decisions%20for%20you%20if%20you%20are%20unable.%20Make%20sure%20it%20includes%20a%20HIPAA%20provision%2C%20allowing%20your%20agent%20to%20access%20your%20medical%20information%20under%20HIPAA%20rules.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3Cp%3E%3C%2Fp%3E%3C%2Fdiv%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fpower-of-attorney-healt%2F&via=forbes&text=Power%20of%20Attorney%3A%20Healthcare","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fpower-of-attorney-healt%2F&title=Power%20of%20Attorney%3A%20Healthcare&summary=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EWith%20a%20healthcare%20power%20of%20attorney%20(or%20health%20care%20proxy)%2C%20you%20authorize%20someone%20(your%20agent)%20to%20make%20medical%20decisions%20for%20you%20if%20you%20are%20unable.%20Make%20sure%20it%20includes%20a%20HIPAA%20provision%2C%20allowing%20your%20agent%20to%20access%20your%20medical%20information%20under%20HIPAA%20rules.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3Cp%3E%3C%2Fp%3E%3C%2Fdiv%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fpower-of-attorney-healt%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":3,"numSlides":10,"slideNum":4,"slideID":"slide-4","isRegularSlide":true},"slug":"power-of-attorney-healt"},{"scope":{"credit":"","caption":"

In a living will, also known as an advanced medical directive, you spell out your end of life wishes about prolonging medical care. If you have a chronic illness, consider tailoring it to your condition. Include an explanation of how to reconcile your choices with any family religious beliefs if they conflict to avoid family discord. [-]

","isLongCaption":true,"shortenedCaption":"

In a living will, also known as an advanced medical directive, you spell out your end of life wishes about prolonging medical care. If you have a chronic illness... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/7576db454dcb3620039f690a00677513/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/7576db454dcb3620039f690a00677513/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/7576db454dcb3620039f690a00677513/0x0.jpg?format=jpg&width=1200","title":"Living Will","height":0.7,"layout":"responsive","isVertical":false,"position":4,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/living-will/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=Living%20Will&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fliving-will%2F%0A%0ALiving%20Will%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fliving-will%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2F7576db454dcb3620039f690a00677513%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=Living%20Will&caption=www.forbes.com&description=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EIn%20a%20living%20will%2C%20also%20known%20as%20an%20advanced%20medical%20directive%2C%20you%20spell%20out%20your%20end%20of%20life%20wishes%20about%20prolonging%20medical%20care.%20If%20you%20have%20a%20chronic%20illness%2C%20consider%20tailoring%20it%20to%20your%20condition.%20Include%20an%20explanation%20of%20how%20to%20reconcile%20your%20choices%20with%20any%20family%20religious%20beliefs%20if%20they%20conflict%20to%20avoid%20family%20discord.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3C%2Fdiv%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fliving-will%2F&via=forbes&text=Living%20Will","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fliving-will%2F&title=Living%20Will&summary=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EIn%20a%20living%20will%2C%20also%20known%20as%20an%20advanced%20medical%20directive%2C%20you%20spell%20out%20your%20end%20of%20life%20wishes%20about%20prolonging%20medical%20care.%20If%20you%20have%20a%20chronic%20illness%2C%20consider%20tailoring%20it%20to%20your%20condition.%20Include%20an%20explanation%20of%20how%20to%20reconcile%20your%20choices%20with%20any%20family%20religious%20beliefs%20if%20they%20conflict%20to%20avoid%20family%20discord.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3C%2Fdiv%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fliving-will%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":4,"numSlides":10,"slideNum":5,"slideID":"slide-5","isRegularSlide":true},"slug":"living-will"},{"scope":{"credit":"","caption":"

Compile a list of assets, such as bank and brokerage accounts, and retirement and life insurance plans. Include any valuable personal items, such as artwork or collectibles. Date it and keep it up to date. Finally, share it with whomever you've named executor, so they'll have a roadmap to help settle your estate. [-]

","isLongCaption":true,"shortenedCaption":"

Compile a list of assets, such as bank and brokerage accounts, and retirement and life insurance plans. Include any valuable personal items, such as artwork or c... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/ef4825e1fc7a8e46a08b61a3a473a70f/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/ef4825e1fc7a8e46a08b61a3a473a70f/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/ef4825e1fc7a8e46a08b61a3a473a70f/0x0.jpg?format=jpg&width=1200","title":"Assets Inventory","height":0.7,"layout":"responsive","isVertical":false,"position":5,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/assets-inventory/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=Assets%20Inventory&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F%0A%0AAssets%20Inventory%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2Fef4825e1fc7a8e46a08b61a3a473a70f%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=Assets%20Inventory&caption=www.forbes.com&description=%3Cp%3ECompile%20a%20list%20of%20assets%2C%20such%20as%20bank%20and%20brokerage%20accounts%2C%20and%20retirement%20and%20life%20insurance%20plans.%20Include%20any%20valuable%20personal%20items%2C%20such%20as%20artwork%20or%20collectibles.%26nbsp%3B%20Date%20it%20and%20keep%20it%20up%20to%20date.%20Finally%2C%20share%20it%20with%20whomever%20you've%20named%20executor%2C%20so%20they'll%20have%20a%20roadmap%20to%20help%20settle%20your%20estate.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3Cbr%3E%3C%2Fp%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F&via=forbes&text=Assets%20Inventory","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F&title=Assets%20Inventory&summary=%3Cp%3ECompile%20a%20list%20of%20assets%2C%20such%20as%20bank%20and%20brokerage%20accounts%2C%20and%20retirement%20and%20life%20insurance%20plans.%20Include%20any%20valuable%20personal%20items%2C%20such%20as%20artwork%20or%20collectibles.%26nbsp%3B%20Date%20it%20and%20keep%20it%20up%20to%20date.%20Finally%2C%20share%20it%20with%20whomever%20you've%20named%20executor%2C%20so%20they'll%20have%20a%20roadmap%20to%20help%20settle%20your%20estate.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3Cbr%3E%3C%2Fp%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":5,"numSlides":10,"slideNum":6,"slideID":"slide-6","isRegularSlide":true},"slug":"assets-inventory"},{"scope":{"credit":"","caption":"

","isLongCaption":true,"shortenedCaption":"

Compile a list of assets, such as bank and brokerage accounts, and retirement and life insurance plans. Include any valuable personal items, such as artwork or c... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/ef4825e1fc7a8e46a08b61a3a473a70f/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/ef4825e1fc7a8e46a08b61a3a473a70f/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/ef4825e1fc7a8e46a08b61a3a473a70f/0x0.jpg?format=jpg&width=1200","title":"Assets Inventory","height":0.7,"layout":"responsive","isVertical":false,"position":5,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/assets-inventory/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=Assets%20Inventory&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F%0A%0AAssets%20Inventory%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2Fef4825e1fc7a8e46a08b61a3a473a70f%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=Assets%20Inventory&caption=www.forbes.com&description=%3Cp%3ECompile%20a%20list%20of%20assets%2C%20such%20as%20bank%20and%20brokerage%20accounts%2C%20and%20retirement%20and%20life%20insurance%20plans.%20Include%20any%20valuable%20personal%20items%2C%20such%20as%20artwork%20or%20collectibles.%26nbsp%3B%20Date%20it%20and%20keep%20it%20up%20to%20date.%20Finally%2C%20share%20it%20with%20whomever%20you've%20named%20executor%2C%20so%20they'll%20have%20a%20roadmap%20to%20help%20settle%20your%20estate.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3Cbr%3E%3C%2Fp%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F&via=forbes&text=Assets%20Inventory","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F&title=Assets%20Inventory&summary=%3Cp%3ECompile%20a%20list%20of%20assets%2C%20such%20as%20bank%20and%20brokerage%20accounts%2C%20and%20retirement%20and%20life%20insurance%20plans.%20Include%20any%20valuable%20personal%20items%2C%20such%20as%20artwork%20or%20collectibles.%26nbsp%3B%20Date%20it%20and%20keep%20it%20up%20to%20date.%20Finally%2C%20share%20it%20with%20whomever%20you've%20named%20executor%2C%20so%20they'll%20have%20a%20roadmap%20to%20help%20settle%20your%20estate.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3Cbr%3E%3C%2Fp%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fassets-inventory%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":6,"isEurope":false,"isChina":false,"numSlides":10,"slideNum":6,"slideID":"ad-1","isAd":true,"isRegularSlide":false},"slug":"assets-inventory"},{"scope":{"credit":"","caption":"

Type up a list of personal advisors: lawyers, bankers, tax advisors. If you own a home, make a list of utility and service providers (lawn care, pest control and the like). Your executor – and heirs -- will thank you. [-]

","isLongCaption":true,"shortenedCaption":"

Type up a list of personal advisors: lawyers, bankers, tax advisors. If you own a home, make a list of utility and service providers (lawn care, pest control and... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/324a33a064930f53431d2b7d8021ab2f/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/324a33a064930f53431d2b7d8021ab2f/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/324a33a064930f53431d2b7d8021ab2f/0x0.jpg?format=jpg&width=1200","title":"List of Contacts","height":0.7,"layout":"responsive","isVertical":false,"position":6,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/list-of-contacts/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=List%20of%20Contacts&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Flist-of-contacts%2F%0A%0AList%20of%20Contacts%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Flist-of-contacts%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2F324a33a064930f53431d2b7d8021ab2f%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=List%20of%20Contacts&caption=www.forbes.com&description=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EType%20up%20a%20list%20of%20personal%20advisors%3A%20lawyers%2C%20bankers%2C%20tax%20advisors.%20If%20you%20own%20a%20home%2C%20make%20a%20list%20of%20utility%20and%20service%20providers%20(lawn%20care%2C%20pest%20control%20and%20the%20like).%20Your%20executor%20%E2%80%93%20and%20heirs%20--%20will%20thank%20you.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3C%2Fdiv%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Flist-of-contacts%2F&via=forbes&text=List%20of%20Contacts","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Flist-of-contacts%2F&title=List%20of%20Contacts&summary=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EType%20up%20a%20list%20of%20personal%20advisors%3A%20lawyers%2C%20bankers%2C%20tax%20advisors.%20If%20you%20own%20a%20home%2C%20make%20a%20list%20of%20utility%20and%20service%20providers%20(lawn%20care%2C%20pest%20control%20and%20the%20like).%20Your%20executor%20%E2%80%93%20and%20heirs%20--%20will%20thank%20you.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3C%2Fdiv%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Flist-of-contacts%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":7,"numSlides":10,"slideNum":7,"slideID":"slide-7","isRegularSlide":true},"slug":"list-of-contacts"},{"scope":{"credit":"","caption":"

Write down your passwords for everything from your credit card accounts to your email accounts. Consider using an online password storage service like my-iWallet or KeePass (then you only have one password to remember). Give your executor and agent (under your power of attorney) instructions on how to find your password cheat sheet! [-]

","isLongCaption":true,"shortenedCaption":"

Write down your passwords for everything from your credit card accounts to your email accounts. Consider using an online password storage service like my-iWallet... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/fc4da4fbb2b49080affc2ce1b03cf057/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/fc4da4fbb2b49080affc2ce1b03cf057/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/fc4da4fbb2b49080affc2ce1b03cf057/0x0.jpg?format=jpg&width=1200","title":"Guide to Digital Assets","height":0.7,"layout":"responsive","isVertical":false,"position":7,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/guide-to-digital-assets/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=Guide%20to%20Digital%20Assets&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fguide-to-digital-assets%2F%0A%0AGuide%20to%20Digital%20Assets%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fguide-to-digital-assets%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2Ffc4da4fbb2b49080affc2ce1b03cf057%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=Guide%20to%20Digital%20Assets&caption=www.forbes.com&description=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EWrite%20down%20your%20passwords%20for%20everything%20from%20your%20credit%20card%20accounts%20to%20your%20email%20accounts.%20Consider%20using%20an%20online%20password%20storage%20service%20like%20my-iWallet%20or%20KeePass%20(then%20you%20only%20have%20one%20password%20to%20remember).%20Give%20your%20executor%20and%20agent%20(under%20your%20power%20of%20attorney)%20instructions%20on%20how%20to%20find%20your%20password%20cheat%20sheet!%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3C%2Fdiv%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fguide-to-digital-assets%2F&via=forbes&text=Guide%20to%20Digital%20Assets","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fguide-to-digital-assets%2F&title=Guide%20to%20Digital%20Assets&summary=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EWrite%20down%20your%20passwords%20for%20everything%20from%20your%20credit%20card%20accounts%20to%20your%20email%20accounts.%20Consider%20using%20an%20online%20password%20storage%20service%20like%20my-iWallet%20or%20KeePass%20(then%20you%20only%20have%20one%20password%20to%20remember).%20Give%20your%20executor%20and%20agent%20(under%20your%20power%20of%20attorney)%20instructions%20on%20how%20to%20find%20your%20password%20cheat%20sheet!%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3C%2Fdiv%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Fguide-to-digital-assets%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":8,"numSlides":10,"slideNum":8,"slideID":"slide-8","isRegularSlide":true},"slug":"guide-to-digital-assets"},{"scope":{"credit":"","caption":"

You can add a provision to your will stating your desire to be cremated or buried, and where. A separate letter to your heirs can include details such as a list of charities you’d like to see get donations in your honor. [-]

","isLongCaption":true,"shortenedCaption":"

You can add a provision to your will stating your desire to be cremated or buried, and where. A separate letter to your heirs can include details such as a list... [+]

","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/37e4f8ce0dae39ac5def1f8b8b4b101a/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/37e4f8ce0dae39ac5def1f8b8b4b101a/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/37e4f8ce0dae39ac5def1f8b8b4b101a/0x0.jpg?format=jpg&width=1200","title":"Funeral Arrangements","height":0.7,"layout":"responsive","isVertical":false,"position":8,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/funeral-arrangements/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=Funeral%20Arrangements&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ffuneral-arrangements%2F%0A%0AFuneral%20Arrangements%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ffuneral-arrangements%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2F37e4f8ce0dae39ac5def1f8b8b4b101a%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=Funeral%20Arrangements&caption=www.forbes.com&description=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EYou%20can%20add%20a%20provision%20to%20your%20will%20stating%20your%20desire%20to%20be%20cremated%20or%20buried%2C%20and%20where.%20A%20separate%20letter%20to%20your%20heirs%20can%20include%20details%20such%20as%20a%20list%20of%20charities%20you%E2%80%99d%20like%20to%20see%20get%20donations%20in%20your%20honor.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3Cp%3E%3C%2Fp%3E%3C%2Fdiv%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ffuneral-arrangements%2F&via=forbes&text=Funeral%20Arrangements","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ffuneral-arrangements%2F&title=Funeral%20Arrangements&summary=%3Cdiv%3E%3Cp%20class%3D%22MsoNormal%22%3EYou%20can%20add%20a%20provision%20to%20your%20will%20stating%20your%20desire%20to%20be%20cremated%20or%20buried%2C%20and%20where.%20A%20separate%20letter%20to%20your%20heirs%20can%20include%20details%20such%20as%20a%20list%20of%20charities%20you%E2%80%99d%20like%20to%20see%20get%20donations%20in%20your%20honor.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fp%3E%3Cp%3E%3C%2Fp%3E%3C%2Fdiv%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ffuneral-arrangements%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":9,"numSlides":10,"slideNum":9,"slideID":"slide-9","isRegularSlide":true},"slug":"funeral-arrangements"},{"scope":{"credit":"","caption":"If you have minor children, make sure your will creates a trust (and names a trustee) for money left to them. Couples may want to include a bypass or disclaimer trust created on the first spouse’s death to preserve his or her estate tax exemption or to protect the money from going to creditors or a new spouse. The surviving spouse has access to the trust’s earnings and principal, but what’s left in the trust “bypasses” the survivor’s estate. Other trusts to consider include: irrevocable life insurance trusts, qualified personal residence trusts, grantor-retained annuity trusts, and charitable trusts. [-]","isLongCaption":true,"shortenedCaption":"If you have minor children, make sure your will creates a trust (and names a trustee) for money left to them. Couples may want to include a bypass or disclaimer... [+]","mobileImage":"https://imageio.forbes.com/specials-images/imageserve/f33f31451b938decbcf02a3ea9f7eac1/0x0.jpg?format=jpg&height=1200&width=400&fit=bounds","viewAllImage":"https://imageio.forbes.com/specials-images/imageserve/f33f31451b938decbcf02a3ea9f7eac1/0x0.jpg?format=jpg&height=200&width=200&fit=crop","image":"https://imageio.forbes.com/specials-images/imageserve/f33f31451b938decbcf02a3ea9f7eac1/0x0.jpg?format=jpg&width=1200","title":"Trusts","height":0.7,"layout":"responsive","isVertical":false,"position":9,"isSlide":true,"url":"https://www.forbes.com/pictures/mjh45egkkj/trusts/","length":10,"isMobile":false,"social":{"email":"mailto:?subject=Trusts&body=Hi%2C%0A%0AI%20thought%20you'd%20like%20this%3A%0Ahttps%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ftrusts%2F%0A%0ATrusts%0A","facebook":"https://www.facebook.com/dialog/feed?app_id=123694841080850&link=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ftrusts%2F&picture=https%3A%2F%2Fimageio.forbes.com%2Fspecials-images%2Fimageserve%2Ff33f31451b938decbcf02a3ea9f7eac1%2F0x0.jpg%3Fformat%3Djpg%26width%3D1200&name=Trusts&caption=www.forbes.com&description=%3Cspan%3E%3Cspan%3EIf%20you%20have%20minor%20children%2C%20make%20sure%20your%20will%20creates%20a%20trust%20(and%20names%20a%20trustee)%20for%20money%20left%20to%20them.%20Couples%20may%20want%20to%20include%20a%20bypass%20or%20disclaimer%20trust%20created%20on%20the%20first%20spouse%E2%80%99s%20death%20to%20preserve%20his%20or%20her%20estate%20tax%20exemption%20or%20to%20protect%20the%20money%20from%20going%20to%20creditors%20or%20a%20new%20spouse.%20The%20surviving%20spouse%20has%20access%20to%20the%20trust%E2%80%99s%20earnings%20and%20principal%2C%20but%20what%E2%80%99s%20left%20in%20the%20trust%20%E2%80%9Cbypasses%E2%80%9D%20the%20survivor%E2%80%99s%20estate.%20Other%20trusts%20to%20consider%20include%3A%20irrevocable%20life%20insurance%20trusts%2C%20qualified%20personal%20residence%20trusts%2C%20grantor-retained%20annuity%20trusts%2C%20and%20charitable%20trusts.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fspan%3E%3C%2Fspan%3E","twitter":"https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ftrusts%2F&via=forbes&text=Trusts","linkedIn":"https://www.linkedin.com/shareArticle?mini=true&url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ftrusts%2F&title=Trusts&summary=%3Cspan%3E%3Cspan%3EIf%20you%20have%20minor%20children%2C%20make%20sure%20your%20will%20creates%20a%20trust%20(and%20names%20a%20trustee)%20for%20money%20left%20to%20them.%20Couples%20may%20want%20to%20include%20a%20bypass%20or%20disclaimer%20trust%20created%20on%20the%20first%20spouse%E2%80%99s%20death%20to%20preserve%20his%20or%20her%20estate%20tax%20exemption%20or%20to%20protect%20the%20money%20from%20going%20to%20creditors%20or%20a%20new%20spouse.%20The%20surviving%20spouse%20has%20access%20to%20the%20trust%E2%80%99s%20earnings%20and%20principal%2C%20but%20what%E2%80%99s%20left%20in%20the%20trust%20%E2%80%9Cbypasses%E2%80%9D%20the%20survivor%E2%80%99s%20estate.%20Other%20trusts%20to%20consider%20include%3A%20irrevocable%20life%20insurance%20trusts%2C%20qualified%20personal%20residence%20trusts%2C%20grantor-retained%20annuity%20trusts%2C%20and%20charitable%20trusts.%20%3Cspan%20class%3D'truncate-text'%3E%5B-%5D%3C%2Fspan%3E%3C%2Fspan%3E%3C%2Fspan%3E","googlePlus":"https://plus.google.com/share?url=https%3A%2F%2Fwww.forbes.com%2Fpictures%2Fmjh45egkkj%2Ftrusts%2F"},"galleryTitle":"10 Must Have Estate Planning Documents","index":10,"numSlides":10,"slideNum":10,"slideID":"slide-10","isRegularSlide":true},"slug":"trusts"}]};

Basic Will - 2016-08-11 - 10 Must Have Estate Planning Documents (2024)

FAQs

Which of the following are documents necessary for estate planning? ›

What documents do I need to create?

A will. This document will allow you to distribute your assets to your loved ones.
Trusts. This can help you distribute assets to your loved ones. ...
A power of attorney. ...
An advance healthcare directive.

Jan 7, 2022

Find Out More ›

What are the most common estate planning documents? ›

The Estate Planning Must-Haves.
Wills and Trusts.
Durable Power of Attorney.
Beneficiary Designations.
Letter of Intent.
Healthcare Power of Attorney.
Guardianship Designations.
Estate Planning FAQs.

More items...

What are the most important legal documents? ›

In an emergency, it's crucial to have a few essential legal estate documents readily accessible, such as a Last Will and Testament, Advance Healthcare Directive, Durable Power of Attorney (aka Financial Power of Attorney), and Living Will.

Learn More Now ›

What is the best way to update a will? ›

Create a codicil.

A codicil amends an existing will. Your existing will remains in effect subject to the changes made by the codicil. The codicil must be written as a separate document. You cannot simply cross out sections of an existing will or add to it in your own handwriting.

Learn More Now ›

What is the purpose of making an estate plan? ›

Besides making sure your assets get to the people you choose, planning can help minimize income, gift and estate taxes, too. Without an estate plan, and specifically a will, the laws in your state will determine what happens to your possessions, and the courts will decide who gets custody of your children.

Get More Info ›

Is a last will and testament the same as a trust? ›

Wills take effect after your death, so they do not protect your assets if you become incapacitated. Trusts can protect your assets if you are incapacitated while still alive.

Find Out More ›

Which of the following is not a benefit of estate planning? ›

Final answer: Maximizing taxes and legal expenses is NOT a benefit of estate planning; the process is designed to minimize these costs. Estate planning benefits include avoiding confusion, protecting loved ones, and choosing guardians for children.

Find Out More ›

Which of the following are components to be considered in the process of estate planning? ›

Estate planning tasks include making a will, setting up trusts and/or making charitable donations to limit estate taxes, naming an executor and beneficiaries, and setting up funeral arrangements.

Know More ›

What are three elements of an estate plan? ›

Discover More ›

What are the four steps in estate planning? ›

What Are the Steps to the Estate Planning Process in California?

Step 1: Determine Your Estate Planning Goals. ...
Step 2: Take Inventory of Your Assets and Debts. ...
Step 3: Draft and Finalize the Necessary Documents to Fulfill Your Wishes. ...
Step 4: Revisit Your Estate Plan Periodically.

Sep 24, 2023

Get More Info ›