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Family Estate Planning Checklist for Parents 55+

Use this family estate planning checklist for parents 55+ to help parents cover essential topics with their families, from wills to legacy planning and important documents.

  • Confirm your will and/or trust is up to date.
  • Ensure you have a durable power of attorney for financial matters.
  • Prepare or review an advance healthcare directive or living will.
  • Set up a HIPAA authorization for medical records access.
  • Identify the location of important documents (e.g., birth certificate, Social Security card, property deeds).

  • Review and organize financial accounts (bank accounts, retirement accounts, investments).
  • List income sources (pension, Social Security, annuities).
  • Document outstanding debts or liabilities.
  • Specify beneficiaries for financial accounts, insurance policies, and pensions.
  • Identify your financial power of attorney or trustee and discuss their role.

  • Ensure life insurance policies are up to date, with accurate beneficiaries.
  • Review health, disability, and long-term care insurance policies.
  • Outline home, auto, and other property insurance policies.
  • Discuss plans for any end-of-life or funeral expense coverage.

  • Share your healthcare wishes for emergency and end-of-life scenarios.
  • Discuss who will serve as your healthcare proxy or power of attorney.
  • Review a list of medications and current healthcare providers.
  • Outline your preferences for care (e.g., in-home care, hospice, assisted living).

  • List any real estate owned, along with titles and deeds.
  • Specify who will inherit real estate and property assets.
  • Discuss any plans or wishes for selling or maintaining property.
  • Outline responsibilities for property upkeep, taxes, and insurance.

  • Make a list of digital assets (email, social media, online banking, subscription services).
  • Provide instructions for accessing digital accounts, including passwords.
  • Specify how you would like social media accounts managed after passing.
  • Consider using a digital legacy manager or appointing a trusted individual.

  • Share personal values, traditions, or family heirlooms you wish to pass down.
  • Write or update a personal letter to family members, if desired.
  • Document personal stories, achievements, and memories for future generations.
  • Discuss charitable donations or legacy wishes (e.g., scholarships, charitable trusts).

  • Specify your wishes for burial, cremation, or other arrangements.
  • Discuss preferences for the funeral or memorial service.
  • Make arrangements for a pre-paid funeral plan, if applicable.
  • Share details on any memorial or remembrance requests.

  • Identify trusted family members or friends who will handle responsibilities.
  • Set up a family meeting to discuss your wishes openly.
  • Encourage family members to ask questions and clarify roles.
  • Plan for ongoing check-ins to keep your estate plans updated and relevant.

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