Wealth Management
7 Steps Estate Planning Process
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7 Steps Estate Planning Process

1
Initial Consultation with Attorney
2
Analysis of Financial Situation
3
Design Estate Plan Strategy
4
Drafting Legal Documents
5
Approval: Legal Documents
6
Implementation of Estate Plan Strategy
7
Reevaluation and Updating of Estate Plan
8
Signing of Will and Other Estate Plan Documents
9
Establishment of Trusts
10
Appointing Power of Attorney
11
Creating a Living Will or Medical Directive
12
Selecting a Guardian for Minor Children
13
Naming Beneficiaries for Insurance Policies and Retirement Accounts
14
Approval: Existing Beneficiary Designations
15
Plan for Liquidity and Estate Taxes
16
Gifting and Charitable Contributions Strategy
17
Business Succession Planning
18
Approval: Business Succession Plan
19
File and Store All Estate Documents in Secure Location
20
Communication Plan with Family and Loved ones