✨Estate Planning Checklist

Use this checklist to ensure you cover all essential aspects of your estate planning process.

1. Gather Your Information

• Personal Information

• Full legal name

• Social Security number

• Date of birth

• Contact information

• Family Information

• Names and contact information for spouse, children, and other dependents

• Guardians for minor children

• Financial Information

• Bank account details

• Investment accounts

• Retirement accounts (IRA, 401(k), etc.)

• Life insurance policies

• Real estate properties

• Business interests

• Personal property (vehicles, jewelry, art, etc.)

2. Establish Your Goals

• Define your estate planning objectives (e.g., care for minor children, charitable donations, tax minimization).

• Determine how you want your assets distributed.

3. Choose Your Key People

• Executor: Person responsible for carrying out your will's instructions.

• Guardian: Individual(s) to care for your minor children.

• Trustee: Person or institution to manage any trusts you establish.

• Financial Power of Attorney: Person to handle your financial affairs if you become incapacitated.

• Healthcare Power of Attorney: Person to make healthcare decisions on your behalf.

4. Draft Essential Documents

• Will

• Specify asset distribution.

• Name an executor.

• Designate guardians for minor children.

• Trusts

• Establish living trusts or other types of trusts as needed.

• Name trustees and beneficiaries.

• Power of Attorney

• Financial Power of Attorney document.

• Healthcare Power of Attorney document.

• Living Will / Healthcare Directive

• Outline your medical treatment preferences.

• Beneficiary Designations

• Update beneficiaries on retirement accounts, life insurance policies, and payable-on-death accounts.

5. Review and Update Documents Regularly

• Life Events: Update your plan for events like marriage, divorce, birth, or death in the family.

• Periodic Reviews: Regularly review your plan every few years or as laws change.

6. Store and Share Your Documents

• Safe Storage: Keep documents in a safe, accessible location.

• Sharing: Inform your executor, trustee, and family members where the documents are stored.

• Copies: Provide copies to key people (executor, trustee, etc.).

7. Consult with Professionals

• Estate Planning Attorney: Draft and review legal documents.

• Financial Advisor: Optimize your plan for financial goals and tax implications.

• Tax Professional: Understand and minimize estate and income taxes.

8. Plan for Special Situations

• Business Succession: Create a succession plan if you own a business.

• Special Needs Trust: Establish trusts for family members with special needs.

• Charitable Giving: Include charitable donations as part of your plan.

9. Additional Considerations

• Funeral Arrangements: Document your preferences for funeral and burial arrangements.

• Digital Assets: Plan for digital assets (e.g., online accounts, social media profiles).

• Letter of Intent: Write a letter to provide additional instructions or personal messages to your loved ones.

By following this checklist MADAM F$NANCE created, you can ensure that your estate plan is comprehensive and tailored to your specific needs and goals. Regular reviews and updates will keep your plan current and effective in protecting your legacy and providing for your loved ones.

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📝About LaKeisha LaGrande (MADAM F$NANCE): 

Natural Living by Design II Founder and CEO 🎓 Insurance Professional 👩🏽‍💼Online Marketer 📈Sales Professional 🤑  Motivational Speaker🎤  Leader 👑 Personal Branding Specialist 🥇Business Mentor 👩🏽‍💼 Investor 💸 Philanthropist 🤲

Who is LaKeisha?

LaKeisha LaGrande's entrepreneurial spirit started at a young age, when she began selling beepers and pagers door-to-door to businesses at the age of 16. Despite facing both the highs and lows of life, she persevered and used her financial expertise to help others. LaKeisha graduated from college with three degrees and went on to own and run a successful soul food restaurant at the age of 26. However, her personal life took a turn when she went through a divorce, leaving her to rebuild her life and financial stability with two children.

But LaKeisha didn't let her setbacks define her. She bounced back and became financially independent, even purchasing a home and paying it off within seven years. Her wealth of financial knowledge and experience led her to provide thoughtful solutions and resources to over a thousand people and small business owners, addressing their financial concerns in areas such as legal, life, health, property, casualty, and Medicare.

LaKeisha's passion for entrepreneurship continued to burn brightly as she pursued her dreams of running a successful business. She earned two Bachelor of Science degrees in Finance and Computer Information Systems from Central State University and a Master's degree in Business Administration from Lawrence Technological University. On her journey to financial freedom, she obtained several licenses and worked for JP Morgan Chase, where she received top-notch financial training and earned her Series 6 and 63 licenses. LaKeisha enjoys working with the senior community, where she helps people navigate the complexities of business, insurance, and the financial industry.

In 2019, LaKeisha launched Natural Living by Design II, www.naturallivingbydesign.com a certified minority supplier company of health and wellness products, including liquid herbal extract supplements, powders, syrups, and a multi-functional natural crystal deodorant mist. Her business partners and she worked tirelessly throughout the pandemic, and their business survived, unlike many others. LaKeisha and her team successfully got their #1 selling multi-functional natural crystal deodorant mist into 20 local stores, mostly throughout the state of Michigan. LaKeisha  tenacity and entrepreneurial spirit continue to inspire others, making her a true leader in the world of business and finance.