Estate planning can feel like one enormous task. In reality, it’s a series of smaller decisions: deciding what you want, putting those wishes in writing, making your documents official, organizing important information, talking to the people involved, and keeping everything up to date.

Use this checklist to see what you’ve already taken care of—and what might still need your attention.

Your Estate Planning Roadmap

1. Make Some Decisions

Before you create the documents, think through the people, property, and wishes they need to protect.

• Decide who you want to inherit your assets

• Review existing beneficiary designations on life insurance, 401(k)s, retirement accounts, and other accounts

• Choose an executor and/or trustee

• Choose who could make financial decisions for you if you couldn’t

• Choose who could make healthcare decisions for you if you couldn’t

• Choose a guardian for your children, if applicable

• Decide who should care for your pets, if applicable

• Think through your funeral and end-of-life wishes

Not sure how to start the conversation? Read 21 Ways to Have the Estate Planning Conversation.

2. Create My Plan

Turn the decisions you’ve made into clear instructions for the people who may one day need them. Not everyone needs every estate planning document. What belongs in your plan depends on your life, family, assets, and wishes.

• Will — Document how you want your assets distributed and who should carry out your wishes

• Trust — Consider whether a trust makes sense for your assets and estate planning goals

• Financial Power of Attorney — Choose someone who can manage financial matters on your behalf if needed

• Advance Health Care Directive — Document your healthcare wishes and who should speak for you

• Pet Directive — Leave instructions for the care of your pets

• Funeral Directive — Put your funeral and final wishes in writing

3. Make It Official

Creating your documents is only part of the process. Make sure they’re properly completed and ready to work when they’re needed.

• Sign your documents according to your state’s requirements, including any required witnesses or notarization

• Fund your trust, if applicable

• Make funeral pre-planning or prepayment arrangements, if applicable

• Store your original signed documents somewhere secure

Considering funeral pre-planning?

• Schedule a free consultation with a GoodTrust + Prelude pre-planning specialist.

Need help making your documents valid?

• How to Make Your Wills and Trusts Valid in Your State

• How to Make Your Powers of Attorney and Health Care Directives Valid in Your State 

4. Organize My Digital Life

Your documents are only part of the picture. Organize the information the people you trust may eventually need.

• Add important accounts and websites to your Digital Vault

• Upload important documents, such as life insurance policies, property deeds, identification, and other key records

• Upload digital copies of your completed estate planning documents

• Add important information for your digital accounts and devices

• Choose Trusted Contacts and decide what information you want to share with them

Keep it together: Store documents, accounts, and important information in your GoodTrust Digital Vault.

5. Tell My People

Naming someone is one thing. Making sure they know their role, and where to find what they need, is another.

• Talk to your executor and/or trustee

• Talk to your healthcare and financial agents

• Talk to your chosen guardian, if applicable

• Talk to your chosen pet caregiver, if applicable

• Make sure the right people know where your estate plan is stored

• Make sure the right people know how to access important information

• Share important documents and information with your Trusted Contacts, when appropriate

6. Keep It Current

Your life changes. Your estate plan should change with it.

• Review your estate plan every 3–5 years and after major life changes

• Review beneficiary designations periodically

• Update roles—including your executor, trustee, agents, guardian, and beneficiaries—when needed

• Update your assets, accounts, property, and other important information

• Make sure your Digital Vault contains the latest versions of important documents

• Revisit your wishes and make sure your plan still reflects what you want

How Far Along Are You?

You don’t need to complete everything at once. This checklist is designed to help you see what you’ve already done, what still needs attention, and what your next step could be.

Estate planning doesn’t end when you create a will. A complete plan means making decisions, documenting them, making your documents official, organizing important information, communicating with the people you trust, and keeping everything current.

Get started today, here. 

Most of us don’t walk around thinking, “I really need a financial power of attorney.”

We think about the situations instead.

What happens if I get sick and can’t make my own decisions? What happens if I can’t manage my finances for a while? What happens to my kids if I’m not here? Would my family even know where to find everything?

You can’t predict every “what if.” But you can make decisions now that give the people you trust more clarity if one of them becomes real.

Here are six situations worth thinking through—and how having an estate plan can change what happens next.

What If I Can’t Make My Own Healthcare Decisions?

Maybe you’re seriously ill. Maybe you’ve been in an accident. Whatever the circumstances, you’re unable to communicate what you want.

Without a plan

The people closest to you may be left trying to figure out what care you would have wanted and who should speak on your behalf. Even when everyone wants what’s best for you, they may not agree on what “best” looks like. Learn more here. 

With a plan

An Advance Health Care Directive lets you document your healthcare wishes and choose someone you trust to make decisions on your behalf if you can’t.

Instead of asking your loved ones to guess, you’ve given them something to work from: your wishes.

What If I Can’t Manage My Finances?

Life doesn’t stop because you’re temporarily—or permanently—unable to manage it.

The mortgage or rent is still due. Bills still need to be paid. Insurance may need to be handled. Financial decisions may still need to be made.

Without a plan

Your family may know exactly what you would want them to do, but that doesn’t necessarily mean they have the authority or information they need to step in. Learn more here. 

With a plan

A Financial Power of Attorney lets you choose someone you trust to handle financial matters on your behalf when appropriate.

It’s not just about choosing someone who could step in. It’s about deciding who you actually trust with that responsibility—and putting that decision in writing.

What If I Die?

This is the “what if” most commonly associated with estate planning. But even here, there’s more to think about than simply who gets your money.

What happens to your home? Your car? Your savings? The necklace your daughter has always loved? Who handles everything that needs to happen after you’re gone?

Without a plan

State law may determine how certain property is distributed, and the people you leave behind may have fewer instructions. Additionally, it may remain largely unclear what you would have wanted with your possessions big and small or who you wanted to handle your estate. 

With a plan

A Will or Trust can help you document what you want to happen to your property and who you want involved in carrying out your wishes. Beneficiary designations on accounts and policies are another important part of the picture.

You don’t need a mansion or millions of dollars to have something worth planning for. You just need a life with people and things you care about.

What If My Kids Need Someone to Care for Them?

For parents, this may be one of the hardest “what ifs” to imagine.

It can also be one of the most important to answer.

Without a plan

You may have a person in mind—your sister, your parents, your best friend—but simply assuming they would take care of your children isn’t the same as making your wishes known.

With a plan

Your Will or Trust can document your choice of guardian for your minor children.

And the planning shouldn’t end with writing down a name. Talk to the person you’re considering. Make sure they understand what you’re asking and feel comfortable saying yes before you make your choice official.

It’s also important to recognize that, in general, the courts will assign guardianship to the surviving parent if there is one. 

What If Something Happens to Me and I Have a Pet?

You know which food they’ll actually eat. You know the vet’s name, the medication hidden inside a piece of cheese, and that “doesn’t like thunderstorms” is a significant understatement.

Would someone else know?

Without a plan

Someone may need to quickly figure out who can take your pet, what they need, and what you would have wanted for their care.

With a plan

A Pet Directive can help you choose a caregiver and leave instructions about your pet’s needs and care.

It’s a relatively small bit of planning that can provide a lot more clarity for both your pet and the person stepping in.

What If My Family Has to Figure Out Everything I Left Behind?

Between the will, the life insurance policy, the checking account, the property deed, the passwords—the list goes on and on—there are a lot of things to find when someone is no longer here. 

This is the part of estate planning that can easily get overlooked. Creating the documents matters. Making sure someone can actually find and use what you’ve prepared matters, too. Learn more about the value of organization in estate planning: A Strong Estate Plan Starts with Documents—But It Doesn’t End There. 

Without a plan

Important information may be spread across filing cabinets, inboxes, devices, accounts, and behind the one password you were absolutely certain you’d remember.

The people you love may be left piecing it together.

With a plan

You can organize important documents, accounts, instructions, and other information in one place and make sure the right people know where to find what they may eventually need.

GoodTrust’s Digital Vault can store documents and information about online accounts and devices, while Trusted Contacts allow you to share relevant information with people you choose. A Funeral Directive can also document your final wishes rather than leaving your family to guess.

The goal isn’t for everyone in your life to know everything. It’s for the right people to know what they need—and where to look.

Learn more about picking the right people for your estate plan and how to talk to them: 

• How to Choose the Right People for Your Estate Plan 

• What to Say to the People in Your Estate Plan

You Can’t Predict the “What If.” You Can Plan for It.

Estate planning can’t stop difficult things from happening.

What it can do is replace some of the uncertainty with decisions you’ve already made, people you’ve already chosen, wishes you’ve already documented, and information that’s easier to find.

You don’t need to prepare for every possible scenario today. Start with the “what if” that made you pause while reading this.

The situation may be out of your control. Your plan doesn’t have to be.

Get started with GoodTrust today.

Choosing an executor, trustee, healthcare agent, financial agent, or guardian is a big decision. But before you put their name in your estate plan, there’s another person who should have a say in that decision: them.

The people you choose aren’t just names on a document. They’re people you trust to step in during moments when you may not be able to—sometimes during an emergency, sometimes after you’re gone. Talking to them beforehand gives you a chance to explain what you’re asking, hear how they feel about it, and make sure they’re comfortable saying yes.

Still deciding who to choose? Read our guide to choosing the right people for your estate plan.

And if starting the conversation is the hardest part, here are 21 ways to have the estate planning conversation.

1. Start by Asking, Not Telling

There’s a big difference between telling someone, “I made you my executor,” and asking whether they’d be comfortable taking on the role.

Before you put someone’s name in your estate plan, bring them into the decision. Tell them you’re working on your plan, explain the role you’re considering them for, and share why you thought of them. Maybe they’re someone you trust to stay calm under pressure, someone who knows you incredibly well, or simply the person you know would take your wishes seriously.

You don’t need to explain everything in that first conversation. The goal is to open the door and make it clear that you’re asking, not assigning.

Try saying:

“I’m working on my estate plan, and I’m considering naming you as my [executor/trustee/healthcare agent/financial agent/guardian] because you’re someone I really trust. I’d like to talk through what the role could involve and what I’d be asking of you, so you can decide whether it’s something you’d feel comfortable taking on.”

2. Make It an Open Conversation

Once you’ve asked, give the conversation space to take shape.

Explain what you’re thinking, but also ask what they’re thinking. What questions they have. Is there anything about the responsibility that worries them? Do they need time to consider it?

And importantly, don’t assume the answer will—or should—be yes.

Someone can love you deeply and still decide that a particular responsibility isn’t right for them. A potential guardian may need to think about what caring for your child could mean for their own family. An executor may have concerns about the time or responsibility involved. A healthcare agent may not feel comfortable making difficult medical decisions.

Give them permission to ask questions, think about it, talk it through with the people in their own life, and come back to you. A thoughtful no now is much more useful than discovering later that the person you chose isn’t able or willing to take on the role.

3. Make Sure They Understand What They’re Saying Yes To

Before someone agrees to a role in your estate plan, they should have a basic understanding of what that role could ask of them.

You don’t need to walk them through every possible scenario or hand over every piece of personal information right now. But they should understand what the responsibility involves, when they might need to step in, what wishes you’d want them to know, and where they’ll eventually be able to find the information they need.

The specifics will depend on the role.

Executor or Trustee

An executor may be responsible for administering your estate after your death and carrying out the instructions in your will. A trustee manages assets held in a trust according to its terms. Depending on your plan, these roles can involve working with documents, accounts, property, beneficiaries, and other administrative responsibilities.

Talk about what you would be trusting them to handle and where your estate documents and important information will eventually be stored. They don’t need every detail today, but they shouldn’t have to start from scratch if the time comes for them to step in.

Try saying:

“If you take this on, you may eventually be responsible for helping manage my estate and making sure the instructions in my plan are carried out. I’ll make sure you know where my documents and important information are kept so you won’t have to figure everything out from scratch.”

Healthcare Agent

A healthcare agent may need to make healthcare decisions for you if you can’t make them yourself.

That makes this conversation about more than where your Advance Health Care Directive is stored. Talk about what matters to you when it comes to your care, your values, and any wishes you feel strongly about. The goal is to help the person you choose understand the decisions you would want made, rather than leaving them to guess during an already difficult moment.

Try saying:

“If I couldn’t make medical decisions for myself, I’d be trusting you to help make them based on what I would want. I want us to talk about my wishes now so you wouldn’t be left trying to guess if that ever happened.”

Financial Agent

A financial agent may be authorized to handle certain financial matters for you if you’re unable to manage them yourself.

Talk about when they might need to step in, the kinds of responsibilities they could be given, and how they would eventually find the documents and financial information necessary to act on your behalf. You don’t necessarily need to give them access to everything now—the important thing is making sure they understand the responsibility and know that a system will be in place if they ever need it.

Try saying:

“If there were ever a time when I couldn’t manage certain financial matters myself, I’d be trusting you to step in for me. I’ll make sure you understand what I’m authorizing you to do and where you could find the information you’d need.”

Guardian

A guardian may one day be responsible for caring for your child if you’re no longer able to. That can make this one of the biggest asks in an estate plan.

Talk honestly about what the responsibility could mean, both emotionally and practically. Share the values and priorities that matter to you as a parent, and give the person you’re considering plenty of room to think about what taking on that responsibility could mean for their own life and family.

Try saying:

“If you said yes, I’d be trusting you to care for my child if I couldn’t. I want to talk about what that could realistically mean for you, as well as the things that would matter most to me about their care and upbringing.”

4. Make It Official

Once you’ve had the conversation and everyone is comfortable moving forward, you can turn those decisions into an actual plan.

1. Complete or update your estate planning documents.

2. Make them legally valid according to the requirements that apply to you.

3. Organize the information your chosen people may eventually need.

4. Let them know once your plan is complete.

5. Tell them where relevant documents and information can be found.

6. Revisit the conversation if your plan—or their circumstances—changes.

Your estate plan isn’t something you create once and never mention again. Your life changes, and so do the lives of the people you’ve chosen. Someone who was comfortable taking on a role five years ago may have different responsibilities today. Your own wishes may have changed, too.

Checking in from time to time helps make sure the plan on paper still reflects the people and relationships in your life.

They’re More Than Names on a Document

The people in your estate plan aren’t just names filling blank spaces next to executor, agent, trustee, or guardian.

They’re the people you’re trusting to show up for you and the people you love during moments that may be difficult, emotional, or unexpected.

Before you make your choices official, make sure the people you’re trusting understand what you’re asking—and have the opportunity to say yes.

Creating an estate plan is a little like casting a play. There are different roles to fill, each comes with different responsibilities, and the person who is perfect for one part may not be right for another.

In general, anyone you name in your estate plan should be someone you trust. But trust can look different depending on the role. The person you trust to care for your children may not be the person you want managing paperwork and finances. Your closest friend may be someone you want to leave a meaningful possession to without giving them any administrative responsibility at all.

And increasingly, our closest relationships don't always fit neatly into a traditional family tree. Blended families, unmarried partners, chosen family, close friends, stepchildren and other important relationships can all shape what we want our plans to look like.

That's one of the reasons estate planning is so personal. You are the expert on your life, your relationships and what matters to you. Understanding what each role involves can help you trust yourself to choose the people who make the most sense for yours.

Beneficiaries: Who Do You Want to Receive What You Leave Behind?

Your beneficiaries are the people, organizations, and charities you choose to receive assets or property from your estate.

For many people, their primary beneficiaries are those closest to them: a spouse or partner, children, siblings, other relatives or close friends. But your plan can also reflect the more specific relationships and stories that make up your life.

Maybe there's a piece of jewelry you want your niece to have. Maybe your best friend should get the record collection you've spent decades listening to together. Maybe there's a nonprofit, school or charitable organization whose work you want to support.

The point isn't to build the beneficiary list you're “supposed” to have. It's to document your wishes.

As you choose beneficiaries, ask yourself: Who do I want to benefit from what I've built? Are there particular possessions that have special meaning to particular people? Are there causes or organizations I want to remember? And does my plan reflect the relationships that are important in my life today?

Remember that some assets, such as certain financial accounts and insurance policies, may pass according to beneficiary designations rather than your will, so those designations should be considered alongside the rest of your plan. Learn more here. 

Executor: Who Do You Trust to Carry Out Your Wishes?

Your executor is responsible for carrying out the instructions in your will and handling the administration of your estate. That can include gathering assets, addressing outstanding obligations and distributing property according to your wishes.

Trust matters enormously here—but so do practical skills.

Think about someone who is responsible, organized, comfortable dealing with paperwork and able to communicate with different people during what may be an emotional time. Your executor doesn't necessarily need to be your closest relative or the person who knows you best.

It is common to choose a family member or close friend, but what matters is whether the person is suited to the responsibility. And importantly: ask them first. Someone can love you deeply and still not feel equipped or willing to take on the job. 

For a deeper look at the role, read GoodTrust's guide to choosing the right executor.

Guardian: Who Would You Trust to Care for Those Who Depend on You?

For parents of minor children, choosing a guardian can be one of the hardest decisions in estate planning.

Try not to get stuck looking for a “perfect” replacement for you. Instead, think about the life you want your child to have.

Consider a potential guardian's relationship with your child, parenting approach, values, age and stage of life, location, living situation and willingness to take on the responsibility. If you have multiple children, consider whether you want them to remain together and whether the person you're considering could realistically care for all of them.

Most importantly, talk to the person before naming them. GoodTrust's guardianship guide also recommends considering a backup in case your first choice cannot serve when the time comes. 

Please note, in most circumstances, if a child has another living parent with parental rights, that parent would generally continue as the child’s guardian.

Pets deserve planning, too. You can document who you'd like to care for your pets and provide information about their routines, needs and care through your estate plan and Pet Directive. Your child's guardian and your pet's future caregiver don't necessarily need to be the same person. 

Read more in GoodTrust's guide to making decisions about guardianship.

Power of Attorney and Healthcare Agent: Who Do You Trust to Step In for You?

Not every role in your estate plan is about what happens after you're gone.

A financial power of attorney allows you to authorize someone to handle certain financial matters on your behalf, while an advance healthcare directive can identify who you want involved in medical decision-making if you can't communicate your wishes yourself.

For these roles, ask yourself a different question: Who do I trust to make decisions for me—not simply the decisions they would make for themselves?

Look for someone who can listen, communicate clearly, handle pressure and respect your wishes even when they might personally choose differently.

And one person doesn't necessarily need to do everything. The person you trust with financial decisions may be different from the person you want advocating for your healthcare wishes.

Witnesses: Who Can Help You Properly Execute Your Documents?

Witnesses have a very different job. They aren't being chosen to inherit something or make decisions for you; they help satisfy the execution requirements that can make certain estate planning documents legally valid.

Requirements vary by state and by document, so this isn't a role to fill casually. In some circumstances, having an interested person—such as a beneficiary—serve as a witness can create complications. When possible, choosing qualified, independent witnesses can help avoid unnecessary questions about conflicts of interest.

Follow the specific signing and witnessing instructions applicable to your document and state, and seek qualified legal guidance when you're unsure.

One More Role for Your Digital Life: Trusted Contacts

Your estate isn't only physical.

With GoodTrust's Digital Vault, you can add Trusted Contacts who can be granted access to specific documents and information you choose to share. Think carefully about who should have access to what: the person you trust with family documents might be different from the person best equipped to handle your digital accounts or other sensitive information.

As with the rest of your plan, the goal isn't to give everyone access to everything. It's to make intentional choices about who you trust with each part of your life.

You Don't Have to Cast Every Role Alone

Choosing people for your estate plan can feel daunting because the decisions matter. But there isn't a universal “right” cast.

Your family might be blended. Your closest person might not be a relative. Different people may bring very different strengths to your life. That's okay. Your estate plan should reflect the reality of your relationships, not someone else's idea of what a family or support system is supposed to look like.

You also don't have to make these decisions in isolation. Talk to the people you love. Ask how they feel about taking on a role. Talk through possibilities with your partner, family, chosen family or other people you trust. 

You know your people. You know your priorities. Trust that knowledge—and build a plan around it.

Ready to start choosing your cast? Create or update your estate plan with GoodTrust today.

This article is for general informational purposes only and does not constitute legal, tax or financial advice.

Planning your own funeral can mean very different things.

For one person, it might mean deciding whether they want to be buried or cremated and writing down a few wishes for their memorial. For another, it might mean sitting down with a funeral provider, choosing specific services, and making financial arrangements in advance.

Both are ways of planning ahead. But they aren't the same thing.

One of the most useful distinctions to understand when preparing for your funeral is the difference between planning what you want and planning how it will be paid for. You can do either one separately, or you can choose to do both.

Understanding the difference can help you decide how much planning feels right for you—and ask better questions if you decide to explore prepaid arrangements.

Planning and Paying Are Two Different Decisions

Funeral planning starts with your wishes.

Do you want to be buried or cremated? Would you want a traditional funeral, a small memorial, or a celebration of life? Are there religious or cultural traditions you want observed? Is there a particular place, piece of music, reading, or other detail that matters to you?

You can think through and document those preferences without purchasing anything.

GoodTrust's Funeral Directive, for example, allows you to record your funeral and memorial wishes so the people you trust have guidance when the time comes. 

Paying in advance is a separate decision. It involves making financial arrangements for some or all of the anticipated costs of your funeral before those services are needed.

Think of it this way:

Planning answers: What do I want?

Paying answers: How will it be funded?

You don't necessarily need to answer both questions at the same time.

Why Plan If You're Not Ready to Pay?

There is still plenty of value in documenting your wishes even if you're not ready—or don't want—to make financial arrangements.

Your family may otherwise have to make a lot of decisions in a relatively short period of time. Knowing that you wanted to be cremated, preferred a small memorial, or had a particular cultural or religious tradition you wanted honored can give them somewhere to start.

It can also give you time to explore your options without pressure.

And your plan doesn't have to be exhaustive. Maybe you don't care what flowers are at your memorial, but you care deeply about where your ashes go. Maybe you want your family to choose the music but know you absolutely don't want a traditional funeral.

Estate planning is about documenting your wishes. You get to decide which details matter enough to record and which you're comfortable leaving to the people you love.

What Does It Mean to Pay for a Funeral in Advance?

If you want to go further, you can also explore ways to financially prepare for your funeral.

Depending on the arrangement, this could involve selecting particular funeral goods or services in advance and arranging for them to be funded before they're needed. One option you may encounter is preneed funeral insurance, which is designed specifically to help fund funeral arrangements.

This is where it's important to distinguish between having money available for final expenses and actually entering into a preneed arrangement.

A savings account, for example, may provide funds that could eventually be used toward funeral expenses. Life insurance may provide a death benefit to beneficiaries. A preneed arrangement, on the other hand, is specifically connected to planning and funding funeral services in advance.

The details matter, which is why paying ahead deserves its own decision-making process.

Before You Pay, Ask Questions

If you're considering a prepaid funeral arrangement or preneed insurance, don't feel pressured to make a decision simply because you've started planning.

Take the time to understand exactly what you're agreeing to.

Some useful questions include:

• What goods and services are included?

• Are the prices guaranteed, or could my family owe additional costs later?

• What isn't included?

• What happens if I move to another city or state?

• Can the arrangement be transferred to another funeral provider?

• What happens if the funeral home changes ownership or closes?

• Can I change my arrangements later?

• What are the cancellation and refund terms?

• Who receives the insurance benefit, if insurance is involved?

• What documentation will I receive?

• Who should have a copy of that documentation?

Preneed contracts and consumer protections can vary by state, so read the terms carefully and ask the provider to explain anything you don't understand before purchasing.

You don't have to become an expert in funeral financing. You just need enough information to understand what you're buying and decide whether it makes sense for you.

Don't Assume “Paid For” Means “Planned”

There's another reason to separate these two ideas: money can't communicate your wishes.

Your family could know that you've set aside money for your funeral and still have no idea whether you wanted burial or cremation, a religious ceremony or a celebration of life, or what mattered most to you.

The reverse is also true. You could leave behind detailed instructions without making any arrangements for how those wishes will be funded.

Neither approach is inherently wrong. But thinking about the questions separately can reveal gaps you might otherwise miss.

Ask yourself:

Have I told people what I want?

Have I thought about what it might cost?

If I've made financial arrangements, does someone know they exist?

That last question is especially important.

If You Pay Ahead, Make Sure Someone Knows

Imagine carefully selecting and paying for funeral arrangements—and then nobody knows you've done it.

Whatever arrangements you make, tell at least one trusted person they exist and where the information can be found.

Keep relevant contracts, policy information, funeral-provider details, and your Funeral Directive somewhere accessible to the appropriate people. GoodTrust's Digital Vault can be used to securely organize important estate planning information and share selected information with people you trust. 

The goal isn't simply to create more paperwork. It's to make sure the planning you've done can actually be useful when it's needed.

How Much Should You Plan Ahead?

As much—or as little—as makes sense for you.

Some people feel better knowing they've selected specific services and considered how they'll be funded. Others want to document their biggest wishes while leaving their family flexibility. Some may be ready to make decisions about their funeral but aren't financially ready to pay for anything yet.

All of those can be reasonable starting points.

Your finances, family structure, cultural traditions, location, preferences, and comfort level are personal. Preparing ahead isn't about achieving some perfect level of funeral planning. It's about creating the amount of clarity that feels useful for you and the people you love.

If you decide you want to explore the financial side, GoodTrust has partnered with Prelude to give families an opportunity to discuss their wishes, potential costs, and funding options through a free discovery call, with no obligation to purchase. 

Plan the Wishes. Consider the Costs. Share the Information.

Preparing for your funeral doesn't have to mean selecting every detail or paying for everything today.

Start by separating the decisions.

What do you want? How might it be paid for? And who needs to know?

Answering those questions on your own timeline can help you make more informed choices now—and leave the people you love with more clarity later.

Get started on your funeral directive with GoodTrust today and schedule your free pre-need inquiry call with our partner, Prelude. 

This article is for general informational purposes only and does not constitute legal, financial, tax, or insurance advice. Insurance products, preneed arrangements, requirements, and consumer protections may vary by provider and state.

September is Healthy Aging Month, a good time to think about what it really means to age well.

Maybe you picture yourself finally taking that trip you’ve talked about for years. Spending more time with your grandchildren. Picking up a new hobby. Starting a business. Learning a new language. Volunteering. Moving somewhere new. Or simply having more time for the people and things you love.

There’s no single right way to age well. Just as retirement no longer has to mean slowing down, getting older doesn’t have to follow anyone else’s blueprint. It can be about choosing how you want to live, what you want to experience, and what you want the next chapter to look like.

Of course, conversations about healthy aging often focus on taking care of your body and mind: making sure you eat healthy, move your body daily, and see the doctor regularly. But there’s another part of aging well that deserves attention: planning ahead.

GoodTrust partners with AARP to help people prepare for the future and navigate important conversations around planning, retirement, and legacy. And that work has reinforced something we believe strongly: planning for later can help you enjoy the life you’re living now.

Because preparing for tomorrow can give you the peace of mind you need to enjoy today to the fullest.

Start With the Future You Actually Want

Before you can plan for the future, it helps to picture it.

Think about yourself five or ten years from now. Where are you living? Who are you spending your time with? What fills your days? What are you excited about? What have you finally found time to do?

These aren't just fun questions. They can help you identify what matters most to you—and what you may need to put in place to protect it.

Your version of aging well is personal. Your planning should be, too.

Planning Ahead Can Create Peace of Mind

There will always be things in life you can't predict. Planning isn't about trying to account for every possibility.

It's about taking care of the things you can decide now.

That might mean understanding where you stand financially, organizing important information, documenting your healthcare wishes, deciding who you trust to help if you ever need it, or making sure your family knows what you want.

When important details are taken care of, you're freer to focus on the people you love, the experiences you want to have, and the memories you're making now.

In other words, planning for later doesn't have to take you away from living today. It can help you get back to it.

Remember That Estate Planning Is Lifetime Planning, Too

Estate planning is often associated with what happens after you die. But some important parts of an estate plan are designed to help you during your lifetime.

An Advance Health Care Directive can document your healthcare wishes if you're ever unable to communicate them yourself. A Durable Power of Attorney can give someone you trust the authority to handle certain financial matters on your behalf.

A will or trust can document what you want to happen to your assets, while tools like a Digital Vault can help keep important documents and information organized and accessible.

Taken together, these tools can answer some important questions before anyone ever has to ask them in a crisis:

Who do I trust? What do I want? Where is everything? And do the people I love know?

Make It Easier for the People You Love

Healthy aging isn't only about maintaining independence. It's also about recognizing that our lives are interconnected.

At some point, you may need someone else to step in and help. You may also find yourself caring for a spouse, parent, sibling, grandchild, or friend.

Having your own affairs organized can make those moments easier.

Your loved ones shouldn't have to guess about your healthcare wishes, inheritance plans, funeral preferences, important documents, or who you wanted to make decisions. Putting those answers in place now can provide clarity for everyone involved.

And planning doesn't need to happen all at once. You can start by gathering information, then make decisions, put those decisions in writing, and make sure the people who need to know about your plan know where to find it.

Then, Get Back to Living

The goal of planning for your future isn't to spend the future worrying about your plan.

It's to make room for everything else.

So book the trip. Take the class. Plant the garden. Start the passion project. Reconnect with an old friend. Learn something completely new. Spend an entire Saturday doing absolutely nothing if that's what sounds good to you.

Healthy aging isn't one particular version of life. It's having the opportunity to keep creating a life that feels like yours.

This Healthy Aging Month, ask yourself: What does aging well look like to me?

Then take a few steps to prepare for it.

GoodTrust helps you create and organize essential estate planning documents, document your wishes, choose the people you trust, and keep important information in one secure place.

Get started on your plan with GoodTrust today so you can get back to doing what you love.

Talking to your parents about estate planning can feel a little awkward. No one particularly wants to sit down over Sunday lunch and ask, “So, what happens when you die?”

But that’s also exactly why these conversations are worth having while everyone is healthy.

When a medical emergency, cognitive decline, or death has already occurred, families can suddenly find themselves trying to answer important questions under enormous pressure. Who should make medical decisions? Where are the important documents? What did Mom actually want? Who is supposed to handle everything?

Having these conversations earlier gives everyone something much more valuable than a perfect plan: clarity.

And you don't need to cover everything at once. As we’ve shared before, there are plenty of ways to start the estate planning conversation with your family. Here are five particularly important conversations to have with your parents while there’s plenty of time to talk.

1. “What would you want if you couldn’t make your own healthcare decisions?”

This can be one of the hardest questions to ask, but it can also be one of the most valuable.

If your parent became seriously ill or injured and couldn't communicate, would you know what kind of medical care they would want? Just as importantly, do you know who they would want making those decisions?

An Advance Health Care Directive can help document healthcare preferences and designate someone to make medical decisions when a person is unable to make or communicate those decisions themselves.

But don't make the conversation solely about paperwork. Ask your parents what matters to them. What does quality of life mean to them? Are there particular wishes they feel strongly about? Who do they trust to advocate for those wishes?

Knowing the answers ahead of time can make an incredibly difficult moment a little clearer.

2. “Who would you want to handle things if you needed help?”

Healthcare isn't the only area where someone may need to step in.

If your parent were temporarily or permanently unable to manage their affairs, who would they trust to pay bills, handle certain financial matters, or take care of other important responsibilities?

A Financial Power of Attorney can allow someone to designate a trusted person to handle certain financial and legal matters on their behalf.

This is also a good opportunity to talk about whether the people named in your parents' documents still make sense. Someone they chose ten years ago may no longer be the person they would choose today.

The goal isn't for you to decide who should take on these roles. It's to make sure your parents have thought about who they trust—and documented those choices appropriately.

3. “Where is everything?”

Imagine knowing your parents have an estate plan but having absolutely no idea where it is.

Now imagine trying to find it during an emergency.

Ask your parents where they keep their will or trust, insurance information, property records, financial information, healthcare documents, and other important records. You don't necessarily need copies of everything or access to every account today. You simply need to know that the right people can find what they need when the time comes.

The same goes for digital information. Important records, subscriptions, photos, financial accounts, and other parts of our lives increasingly exist online.

A secure Digital Vault can help keep important information organized and accessible to the people your parents choose.

4. “What do you want to happen to the things that matter to you?”

Inheritance conversations can quickly become conversations about money. But a legacy is much bigger than an account balance.

Ask your parents what they want to happen to their home, personal belongings, family heirlooms, photographs, or other meaningful possessions. There may be items with little financial value that carry enormous emotional significance.

This conversation can also uncover assumptions no one realized they were making. Maybe everyone assumes one sibling wants Grandma's ring, when another has always felt deeply connected to it. Maybe your parents have very specific wishes they've simply never mentioned.

A will or trust can help document how assets should be handled, but talking about those decisions can give family members context that a legal document alone can't always provide.

5. “What do you want us to know?”

Not every important part of an estate plan fits neatly into a financial or legal category.

What kind of funeral or memorial would your parents want? Are there family traditions they hope you'll continue? Is there a story behind an heirloom everyone should know? Are there people they would want contacted? What do they hope their children and grandchildren remember?

These questions shift the conversation away from simply “what happens to your stuff?” and toward something much more meaningful: what do you want to leave behind?

Your parents' legacy may include assets, but it also includes their stories, values, relationships, traditions, and wishes.

You Don't Have to Have Every Conversation Today

Estate planning doesn't need to be one enormous family summit.

You might start with healthcare wishes one afternoon and talk about important documents months later. A story about a family heirloom might naturally lead to a conversation about a will. Completing your own estate plan might give you an easy reason to ask your parents about theirs.

What matters is creating space for these conversations before an emergency makes them necessary.

Your parents should remain in control of their own decisions, and you don't need to know every detail of their finances or estate. But knowing that a plan exists, understanding their wishes, and knowing where to find important information can make an enormous difference when your family eventually needs it.

The best legacy conversations happen while there's still plenty of time to have them.

Ready to start planning? GoodTrust can help you create and organize the documents that make your wishes clear. Every plan includes family planning, so your loved ones can make complimentary accounts to secure their legacy as well—yes that includes your parents. 

For many Americans, a home is the most valuable asset they own. It may also be the asset with the most emotional weight attached to it. It’s where your family has gathered for decades, where your children grew up, the accomplishment you’re proud to finally have paid off. 

But what actually happens to your house when you die?

The answer depends on several factors, including how you own the property, whether you have an estate plan, and what that plan includes. Your home might pass directly to another owner, go through probate before reaching your beneficiaries, or be distributed according to state law if you don't have a plan at all.

Here are some of the most common possibilities.

What Happens If Your House Is Left in a Will?

A will lets you name who you want to inherit property after your death, including your home.

However, there's an important misconception worth clearing up: having a will doesn't necessarily mean your house avoids probate.

Probate is the legal process through which a deceased person's estate is administered. If your house is owned solely in your name and passes under your will, it will generally become part of your probate estate. Your executor follows the instructions in your will as the estate moves through the applicable process.

Probate requirements, timelines and costs vary considerably by state and by estate.

This is one of the key distinctions between a will and a living trust: a will provides instructions for distributing probate assets after your death, while assets properly held in a trust can generally pass outside probate.

Want a deeper comparison? Read GoodTrust's guide to wills vs. trusts.

What Happens If Your House Is in a Trust?

A revocable living trust can provide another way to plan for what happens to your home.

When a home is properly transferred into a trust, the trust becomes the legal owner of the property. As the person creating the trust, you can generally continue to live in and manage your home during your lifetime according to the terms of the trust.

You also name a successor trustee who can manage trust assets after your death or, depending on the trust terms, if you become unable to manage them yourself.

After your death, a home properly held in the trust can generally pass to the beneficiary you've named without going through probate.

There's an important detail here: simply creating a trust doesn't automatically place your house in it. The property generally needs to be legally transferred—or “funded”—into the trust.

If you're considering a trust, learn more about the benefits of setting up a trust and what you can include in your trust.

What If You Die Without a Will or Trust?

If you die without a valid will, also known as dying intestate, your house doesn't become ownerless. Instead, property that is part of your probate estate is distributed according to your state's intestacy laws. Check your state's intestacy laws at Caring.com. 

These laws establish which relatives inherit when someone dies without a will. They commonly prioritize spouses, children and other close relatives, but exactly who inherits—and how much—depends on state law instead of you.

The result may not be what you would have chosen for your family. For example, an unmarried partner, stepchild, friend or other loved one may not have the inheritance rights you assume they do.

Creating an estate plan gives you the opportunity to document your own wishes rather than relying on your state's default rules.

What Happens to the Mortgage?

A mortgage doesn't simply disappear when a homeowner dies.

How an outstanding mortgage is handled can depend on factors including the type of loan, how the property is owned, whether there are co-borrowers, and who inherits the home. The person or entity handling the estate will also need to ensure expenses such as mortgage payments, property taxes and insurance are appropriately addressed while the property is being administered.

Certain types of loans, including reverse mortgages, have additional rules and requirements.

Because mortgage terms and requirements vary, consider contacting your mortgage servicer as part of your estate planning process to understand what could happen to your loan after your death. 

Make a Plan for Your Home

Your home is too important to leave its future entirely to chance.

As part of your estate planning process, consider a few basic questions:

• Who do you want to inherit it?

• Do you want your home to pass through a will or a trust?

• If you have a trust, has the property actually been transferred into it?

• Does the person handling your estate know where to find your important documents?

The right approach will depend on your individual circumstances. Estate planning documents can help you clearly record what you want to happen, while an attorney can provide legal advice when your situation requires it.

Ready to get started—or make sure your existing plan still reflects your wishes? Create or update your estate plan with GoodTrust today.

This article is for general informational purposes only and is not intended to provide legal, tax, or financial advice.

The dorm supplies are purchased. The tuition bill is paid. The meal plan is chosen. You've talked about classes, roommates, staying safe, and maybe even how often they're expected to call home.

But there's one item that probably isn't on your college checklist: making sure you can still step in if your child needs you.

Once your child turns 18, they're legally an adult. And that changes more than many families realize.

You may still pay their tuition. They may still be on your health insurance. You may even claim them as a dependent. But legally, your ability to make certain medical, financial, and legal decisions for them is no longer automatic.

That's why two simple estate planning documents deserve a place on every family's college checklist.

What changes when your child turns 18?

For nearly two decades, you've been the person who signs forms, talks to doctors, manages paperwork, and steps in when something goes wrong.

Then your child turns 18.

Suddenly, the law recognizes them as an adult with the right to make their own decisions and control access to their personal information.

That's an important part of becoming independent. But it can also create complications when a young adult needs help.

College is often the first time a child is living away from home and navigating more of life independently. They're driving, traveling, playing sports, studying abroad, managing their own money, and making their own decisions.

Most of the time, that's exactly how it should be.

But accidents and emergencies happen. Your child could be injured in a car accident, hospitalized after a fall, lose their passport while on spring break, or simply need someone to handle an urgent financial or legal matter while they're unable to do so themselves.

When that happens, being their parent doesn't necessarily give you the legal authority to step in.

Two documents every family with an adult child should know about

Fortunately, your child can choose who they want to help them if they're ever unable to manage something themselves.

Two documents make that possible: an Advance Health Care Directive and a Durable Power of Attorney.

1. Advance Health Care Directive

An Advance Health Care Directive allows your adult child to name someone they trust to make medical decisions on their behalf if they're unable to communicate or make those decisions themselves.

Depending on state law and the documents used, it can also help clarify their health care wishes and who should be involved in their care.

For a college student living hundreds or thousands of miles from home, having those decisions documented ahead of time can make an already stressful situation easier for everyone involved.

2. Durable Power of Attorney

A Durable Power of Attorney allows your child to authorize someone they trust to handle certain financial and legal matters on their behalf.

That could become useful if your child is temporarily incapacitated or otherwise unable to manage an important financial or administrative task themselves.

Your child remains in control of whom they appoint and the authority they choose to give that person.

This isn't about taking away their independence

For some parents, asking an 18-year-old to sign legal documents can feel strange. After all, isn't the whole point of this stage of life to let them become more independent?

These documents don't have to undermine that independence. In many ways, they're part of it.

Turning 18 means your child gets to decide who can act for them, rather than having those decisions made automatically because they're a minor.

Creating these documents is an opportunity to have a larger conversation about adulthood: Who do you trust? Who should be able to help you? What would you want to happen in an emergency?

Those are valuable questions whether your child is heading across the country for college, moving into their first apartment, starting a job, taking a gap year, or staying close to home.

Add legal preparedness to the college checklist

Estate planning isn't only about wills, inheritances, and what happens after someone dies.

It's also about preparing for the moments in life when someone may need another person to step in.

Turning 18 is one of those moments.

So while you're checking off the final college preparations this summer, consider adding two more items to the list:

• Create an Advance Health Care Directive

• Create a Durable Power of Attorney

They're documents you hope your family never needs to use. But if an emergency happens, having them in place can make it much easier for the people your child trusts to help when it matters most.

With GoodTrust, your family can create and securely store essential estate planning documents online, so they're there when you need them. Get started today, here.

August is Make-A-Will Month. And guess what! If you don’t own a home, have kids, or have a lot of money - you still need a will. That’s right. One of the biggest misconceptions about estate planning is people don't think they have enough assets. In fact 40% of Americans believe they simply don’t make enough money to justify creating one.

Not only are you probably underestimating the value of what you own, but a will is about a lot more than money in the bank. Think about it, some of your most prized possessions aren’t even worth anything financially. Think about it: some of your most prized possessions may not be worth much financially, but they can carry enormous sentimental value. Your family also deserves clear guidance about your wishes. For example, who should receive the family heirlooms you’ve held onto for years, or take care of your pet if something happens to you? There are many reasons why you need a will, so let’s get into them.

1. You have more possessions than you think

When you hear the word “estate,” you might picture a house, investment portfolio, or substantial savings account. But your estate is made up of the things you own—and you may be surprised by how much that includes.

Your car, laptop, phone, television, furniture, jewelry, artwork, instruments, collectibles, and other belongings all have to go somewhere. Even if you don’t consider yourself wealthy, chances are you own things with real value, both monetary and emotionally. 

There are also the things that may be less visible but are still important to account for, including financial accounts, important documents, digital accounts and devices, and other information you may keep organized in your Digital Vault.

A will gives you a say in what happens to them.

2. The most valuable possessions aren't always about money

Then there are the things that might be practically worthless to anyone else but priceless to you.

Maybe it’s your grandmother’s necklace, a box of old photographs, a collection you’ve spent years building, handwritten letters, a family recipe book, or even every birthday card you’ve refused to throw away.

These are often the possessions with the stories attached to them—and the ones you may have the strongest feelings about passing on.

Making a will allows you to think beyond what this is worth and consider who you would want to have this. 

3. Letting your family know your wishes is one of the greatest gifts you can give them

When someone dies, the people they leave behind have to handle so many costly logistical decisions.

Telling your family, “You know what I would want,” may feel sufficient now. But memories differ, assumptions get made, and disagreements can happen—especially during an emotional time.

Putting your wishes in writing gives the people you love something they desperately need in that moment: clarity. Instead of asking themselves what you would have wanted, they can focus on carrying out the decisions you've already made.

4. If you have children, you'll want to name a guardian

You might have named a godparent or told your sister that you’d want her to raise your children. Maybe your parents know the plan, or perhaps everyone in your family agrees about who would step in during an emergency.

But an informal conversation is not the same as legally documenting your wishes.

If a child loses both parents, a court ultimately determines who will serve as their legal guardian, based on the child's best interests. Naming your preferred guardian in your will gives the court formal evidence of the person you chose and is an important part of planning for your children's care.

It may be one of the most consequential decisions you make in your will.

Learn more about picking the right guardian here. 

5. Someone has to handle everything you leave behind

Think about everything involved in wrapping up the life of a loved one: locating accounts, managing property, paying outstanding bills and debts, handling paperwork, communicating with beneficiaries, and ultimately distributing assets.

This person is know as the excecutor, the one responsible for administering your estate and carrying out the instructions in your will.

Choosing that individual yourself means you can nominate someone you trust to take on the responsibility—and talk to them about it ahead of time.

6. Life changes—and your plans should be able to change with it

The person you would have trusted with everything five years ago may not be the same person you would choose today.

People get married and divorced. Children are born. Friendships change. Families grow. People buy homes, start businesses, inherit money, move across the country, and develop completely new priorities.

Creating a will doesn't mean deciding what you want today and being stuck with it forever. Your estate plan can—and should—evolve as your life does.

Make-A-Will Month can be just as useful a reminder to review an existing will as it is to create your first one. 

Learn more about when to update your estate plan here. 

7. Your pet might be able to meow or bark, but they can't share your wishes

You know exactly who your dog adores, who your cat refuses to tolerate, and who you would trust to care for them if you couldn't. 

They do too… but unfortunately, they can't bark-meow-explain any of that.

Estate planning gives you an opportunity to plan for what happens to the animals who depend on you. That can include identifying the person you would want to care for them and making appropriate financial arrangements for their future care.

Because “my best friend will take care of them” isn't much of a plan.

8. Because if you don't, you won’t get the final say

This might be the simplest reason to make a will.

When someone dies without a valid will, state intestacy laws generally determine who inherits their probate property, which means the people who receive your belongings may not necessarily be the people you would have chosen.

The law doesn't know about the friend who has effectively become family, the relative you no longer have a relationship with, the person you promised your record collection to, or the sibling who would treasure your grandmother's necklace. Those are personal decisions that only you can make.

Making a will isn't about expecting the worst. It's about making decisions while they're still yours to make.

Make this the month you make a will

A will isn’t only about dividing up a large estate. It’s a chance to decide what happens to the things—and people—that matter to you, from your car and savings to family heirlooms, sentimental keepsakes, and the person you trust to carry out your wishes. You probably have more to plan for than you think. 

Since it’s Make-A-Will month, it’s a perfect opportunity to finally complete the task you might have been putting off. 

That doesn't mean you have to spend August contemplating your mortality. Think of it as an opportunity to take inventory of the life you've already built: the people you love, the things you've accumulated, the responsibilities you've taken on, and the wishes you want respected.

Whether you have a house and three children or an apartment, a cat, and a collection of birthday cards you can't bring yourself to throw away, you have a life worth planning for.

With GoodTrust, you can create your will online and document the decisions that matter to you, so the people you love aren't left to make them for you. The month’s already underway so get started today, here.

When people think about estate planning, they often think about what happens to their money, home, and belongings after they're gone. They create a will, name beneficiaries, or put together an advance healthcare directive to make things easier for their loved ones.

But there's one important question many people never ask:

How will the funeral actually be paid for?

It's understandable. Funeral planning isn't something most people want to think about, especially when they're young and healthy. But the reality is that funerals can be one of the first major expenses families face after a loved one dies—and one of the most unexpected.

According to the National Funeral Directors Association (NFDA), the 2023 national median cost of a funeral with viewing and burial was $8,300, while a funeral with viewing and cremation cost a median of $6,280. Those figures don't include cemetery property, monuments or markers, flowers, obituary notices, or other expenses that can increase the total cost even further.

For many families, these financial decisions happen at the same time they're grieving. Within a matter of days, they may need to choose a funeral home, coordinate with relatives, schedule services, complete paperwork, and figure out how to pay for everything.

Planning ahead can't eliminate the emotional weight of losing someone. It can, however, make one part of the process much easier.

Funeral Wishes Are Only Part Of The Plan

While some people are beginning to recognize the importance of documenting their funeral wishes, there is a wide gap. Only 19.4% have pre-planned and prepaid for arrangements.

Whether you'd prefer burial or cremation, a traditional funeral or a celebration of life, religious traditions or something more personal, leaving clear instructions can remove uncertainty and prevent family members from having to guess what you would have wanted.

With GoodTrust, you can detail all of the above and much more by creating a Funeral Directive. This document allows you to be clear about your final resting place wishes as well as detail how you’d like the event to go. From music to flowers, whether you’d like your guests to give to a charity of your choice… the possibilities are endless. 

But those instructions don't answer another important question:

Who is responsible for paying for it?

Without a financial plan, loved ones may need to rely on savings, use credit cards, or wait for estate assets or life insurance proceeds before they're reimbursed. Even families with life insurance may find that funeral expenses arise long before insurance benefits are available.

Thinking about both your wishes and how those wishes will be funded creates a more complete plan.

What Is A Pre-Need Funeral Policy?

One option some people choose is a pre-need funeral policy.

Unlike traditional life insurance, which provides money to beneficiaries after someone dies, a pre-need funeral policy is designed specifically to help cover funeral expenses. These policies are generally purchased in advance and are often connected to arrangements made with a funeral provider.

Some plans are paid for over time through regular premiums. Others are available as Single Pay Policies (SPPs), allowing the purchaser to make one upfront payment instead of ongoing monthly payments.

The exact terms vary depending on the provider and the policy, so it's important to understand exactly what is included before purchasing.

Questions To Ask Before You Buy

If you're considering a pre-need funeral policy, don't be afraid to ask questions. Understanding the details now can help avoid surprises later.

Some important questions include:

• What funeral goods and services are covered?

• Are prices guaranteed, or could my family still owe additional costs?

• If I move to another city or state, can the policy be transferred?

• What happens if I change my mind or want to update my arrangements?

• What happens if the funeral home changes ownership or closes?

The answers can vary between providers, making it worthwhile to compare your options before committing to a plan.

A Complete Plan Goes Beyond Paying For A Funeral

Funding a funeral is only one piece of preparing for the future.

Your loved ones also benefit from knowing where your important documents are stored, who should be contacted, and what your final wishes are. A will determines how your assets are distributed. Advance healthcare documents communicate your medical preferences. Funeral instructions explain how you'd like to be remembered.

Together, these pieces create a more complete estate plan—one that helps reduce both financial and emotional stress during an already difficult time.

Planning for a funeral isn't about expecting the worst. It's about recognizing that one day, someone else may have to make these decisions on your behalf. Taking the time to plan ahead today can give your loved ones one less thing to worry about tomorrow.

Get started on your Funeral Directive today at GoodTrust.

Most people think updating their estate plan means revising their will or trust.

But there's one document that often gets overlooked—and in many cases, it's the one that determines where some of your largest assets actually go.

Your bank, insurance, and other financial accounts beneficiary designations are separate from your will or trust and need to reflect your wishes.

If it's been years since you last reviewed them, or you can't remember who you named, you're not alone. Yet taking just a few minutes to review your beneficiaries could save your loved ones significant stress, delays, and unintended consequences down the road.

What Is a Beneficiary Designation?

A beneficiary designation tells a financial institution who should receive a particular asset when you pass away.

These are commonly attached to:

• Life insurance policies

• 401(k)s and IRAs

• Pension plans

• Investment accounts

• Payable-on-death (POD) bank accounts

• Transfer-on-death (TOD) brokerage accounts

These assets typically pass directly to the named beneficiary regardless of what you’ve indicated in your will or trust. 

That’s The Part That Surprises Most People

Many people spend hours creating a will, assuming it controls everything they own.

It doesn't.

Beneficiary designations are separate legal instructions attached directly to specific financial accounts. Rather than passing through your will, these assets typically transfer directly to the person you've named on the account.

That means if your retirement account, life insurance policy, or payable-on-death bank account still lists an ex-spouse from years ago, updating your will alone may not change who inherits those assets. In many cases, the financial institution is legally required to follow the beneficiary designation on file.

That's why reviewing your beneficiaries is one of the simplest—and most important—parts of keeping your estate plan up to date. 

Your estate plan is only as accurate as your beneficiary designations.

When Should You Review Your Beneficiaries?

A good rule of thumb is to review your beneficiary designations every three to five years. 

You should also update them after any major life event, including:

• Marriage

• Divorce

• Birth or adoption of a child

• Death of a beneficiary

• Retirement

• Significant changes in your financial or personal situation

The same review suggestions apply to your estate plan (will, trust, healthcare directive, power of attorney, etc.) so why not bundle them? The next time you update your documents, set a reminder for when you’ll be due again. 

Even if nothing has changed, reviewing your designations regularly helps ensure they still reflect your wishes.

Common Misconceptions

By now, you know that beneficiary designations are separate from your will or trust, should be reviewed after major life events, and shouldn't be forgotten on old accounts or policies.

There are a few other mistakes people commonly make that can create unnecessary complications for their loved ones.

They Don't Name Backup Beneficiaries

What happens if your primary beneficiary passes away before you or is unable to inherit your assets?

Naming a contingent (or secondary) beneficiary provides another layer of protection and can help avoid unnecessary delays or complications.

They Don't Tell Anyone

Your loved ones can't claim benefits they don't know exist.

While you don't need to share every detail of your finances, it's a good idea to let a trusted family member, executor, or estate representative know where important accounts are held and where they can find the documents they'll need.

They Don't Secure Their Important Documents

Keeping your beneficiary designations up to date is only part of the process.

Your loved ones will still need access to your estate planning documents, financial information, healthcare directives, and other important records when the time comes.

Storing everything in one secure location—such as GoodTrust's Digital Vault—can make settling your affairs much simpler and spare your family from searching through filing cabinets, email inboxes, or forgotten online accounts during an already difficult time.

Beneficiaries Are Just One Piece of the Puzzle

Reviewing your beneficiary designations is one of the simplest ways to strengthen your estate plan, but it's only one part of protecting your legacy.

A complete estate plan may also include:

• A Last Will and Testament

• A Revocable Living Trust

• Durable Financial Power of Attorney

• Advance Healthcare Directive

• Funeral and end-of-life wishes

• A Digital Vault

The more organized your plan is today, the easier it will be for your loved ones tomorrow.

Take Five Minutes Today

Estate planning isn't just about creating documents once and forgetting about them.

Life changes.

Families grow.

Relationships evolve.

Your estate plan should evolve too.

If you can't remember the last time you reviewed your beneficiary designations, today is a great day to check. A few minutes now could help ensure your assets go exactly where you intend—and spare your family unnecessary confusion later.