Estate planning is an essential process that ensures your assets are distributed according to your wishes after you pass away. It not only involves writing a will but also requires careful consideration and planning for the beneficiaries of your estate. While estate planning can initially seem overwhelming and daunting, Beneficiary Plan is here to help simplify the process with our user-friendly estate planning app. To ensure that your estate planning is thorough and successful, we have created a comprehensive estate planning checklist for you.
Complete Your User Profile With All the Required Details
The first step to effective estate planning is to complete your user profile with relevant details. This includes your full legal name, date of birth, and current address. Beneficiary Plan uses these details to identify you as the owner of your estate. They also help to ensure that the final estate plan accurately reflects your personal information.
Add at Least Two Beneficiaries
The next step in the estate planning checklist is to add at least two beneficiaries. A beneficiary is someone who will inherit your assets after you pass away. It’s important to have at least two beneficiaries in case one of them is unable to receive your assets for any reason. When adding beneficiaries, you will need to provide their full names and contact information. We also recommend to discuss your decision with your chosen beneficiaries beforehand. Doing so will help avoid any confusion or conflicts in the future.
Customize Beneficiary Allocations by Adding Assets
Once you have added your beneficiaries, it is crucial to determine how you want your assets to be distributed among them. Our app allows you to allocate assets to specific beneficiaries. This ensures that your wishes are accurately reflected in the final estate plan. You can also include instructions for any specific assets or possessions you wish to leave to your loved ones.
Enter the Required Details to Generate Your Document
After completing your user profile and adding your beneficiaries and asset allocations, the next step is to enter the required details to generate your estate planning document. This includes information about your primary and secondary beneficiaries, the appointment of a personal representative to manage your estate after you pass away, and the designation of a guardian to care for any minors in your care in the event of your passing. Our app simplifies this process by providing easy-to-follow prompts to ensure that you don’t miss any crucial details.
Download and Print Your Document
Once you have entered all the required information, you will be able to download and print your estate planning document. This document outlines all of your wishes and instructions regarding the distribution of your assets. It is crucial to keep this document in a safe place and inform your loved ones and executor of its whereabouts.
Sign In Presence of Two Witnesses and Have Them Sign the Document
The final step in the estate planning process is to sign the document in the presence of two witnesses. This ensures that the document is legally binding and that your wishes will be carried out after you pass away. The two witnesses must also sign the document, and we recommend choosing individuals who are not beneficiaries to ensure impartiality.
Beneficiary Plan provides this estate planning checklist so you can ensure you do not miss any steps in the process of creating a comprehensive estate plan. Our user-friendly app makes estate planning accessible and easy, allowing you to have peace of mind knowing that your assets will be distributed according to your wishes after you pass away. Start planning for your future today with Beneficiary Plan.
