Your estate plan tells a story about what matters most to you.

While legal documents transfer property, they can also reflect your values and the legacy you hope to leave. Thoughtful estate planning can benefit everyone, regardless of financial circumstances. It can provide peace of mind for you, clear guidance for loved ones, and the opportunity to support charitable causes that are close to your heart.

Even a well-crafted estate plan should be reviewed periodically to ensure it reflects changes in your family, finances, or priorities. Whether you are creating or updating an estate plan, the following considerations can help clarify your priorities and prepare you for meaningful conversations with your advisors. By thinking about each question, you can begin building or refining a plan that reflects your wishes, provides for the people you love, and puts your values into action.

1. What do I want to accomplish?

Before your attorney can help you with the details of your planning, it’s important to be clear about your goals and priorities. Consider which loved ones you want to provide for and how you want your assets distributed. Think about the unique care and financial needs of minor children, a blended family, or dependents with special needs and how you’ll want to provide for them. Imagine the legacy you’d like to leave.

2. What estate planning documents do I need?

After you’ve clarified your intentions, your attorney can recommend the legal documents you’ll need. There are several key documents that can help protect you in the event of incapacity and ensure your wishes arecarried out after your lifetime, including:

• A will and/or a revocable living trust

• A financial power of attorney

• Advance medical directives, including a living will and a health care power of attorney

These documents work together to ensure your intentions are clearly documented and that your personal and financial matters can be managed according to your instructions.

3. Who will carry out my plans?

You can choose trusted people to carry out your wishes after your lifetime or during a period of incapacity. Depending on your situation, you may want to name:

• An executor to administer your estate

• A trustee to manage trust assets, if applicable

• An agent to handle financial or medical decisions upon incapacity

• Guardians for minor children or dependents

Choosing the right people to carry out your wishes provides clarity and support for your loved ones during an important time.

4. Are my beneficiary designations and estate documents aligned?

Certain assets, like life insurance policies and retirement accounts, allow you to name beneficiaries through a designation form. These designations often override instructions in a will or trust, making it important that they be coordinated with your estate planning documents. Outdated forms or beneficiary designations that conflict with the intentions expressed in your will can result in your assets passing to unintended recipients.

Regularly reviewing these designations helps ensure they remain accurate and reflect your current plans and priorities.

5. Have I planned for my digital assets?

Digital assets include online accounts, electronic files, digital photographs, website domains, cryptocurrency, cloud storage, and social media accounts—assets that may have financial or personal value. Without clear instructions and proper authorization, valuable assets may become inaccessible and lost after your lifetime or upon incapacity. Take time to inventory your digital assets, outline how they should be managed and by whom, and seek legal advice on how to incorporate them into your overall estate plan.

6. How should I carry my values forward beyond my lifetime?

Including a charitable gift in your estate plan is a way to leave a legacy and support causes or organizations close to your heart. When considering a charitable gift, reflect on which organizations have been meaningful in your life and the impact you would like to create with your gift. Consider how you would like your gift to be structured—a specific dollar amount, a percentage of your estate, a beneficiary designation for your retirement account, or a variety of other options. And remember that charitable giving does not have to come at the expense of providing for loved ones—many estate plans effectively accomplish both. When thoughtfully planned, these gifts can create an enduring difference while offering potential tax savings. 

Taking time to consider these questions can make conversations with your attorney more productive and help ensure that your estate plan reflects the people, purposes, and values that matter most to you.

Need help getting started? If you don't already have an estate planning attorney, we invite you to explore the Fremont Area Community Foundation's directory of local professional advisors. Our list includes experienced estate planning attorneys who can help you create or update a plan that fits your goals. Visit our Professional Advisor Directory to learn more. https://www.facfoundation.org/professional-advisors/contact-an-advisor/attorneys.html