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A Checklist For Organizing Your Parents’ Estate and Future Plans

Talking to your parents about estate planning can feel awkward, but it is one of the most important conversations you will ever have. They have spent a lifetime building their legacy, and now is the time to ensure it is protected and that their wishes are honored.

If you are part of the sandwich generation, balancing responsibilities for both your kids and your aging parents, you know how overwhelming it can be. That is why we put together this checklist to give you a clear, practical roadmap for helping your parents organize their estate without making it feel like a legal minefield.

Use this as a guide, not a script. The goal is to help them get everything in order while respecting their independence.

1. Start the Conversation

Estate planning is not just about money. It is about making sure your parents’ wishes are honored and their affairs are in order.

If you need an assist, Buried in Work can help kick things off for you with our Start The Conversation Information Hub.

Bringing up estate planning during a stressful or emotional moment is not ideal. Choose a time when your parents are relaxed, and approach the conversation with care. A casual setting at home or after a family meal can make it feel less formal and more approachable.

Instead of diving into paperwork, start with open-ended questions. Ask what matters most to them when it comes to their finances, healthcare, and legacy. Do they have any concerns about their future? Framing the discussion around their values rather than legal documents can make it easier to start the conversation.

Talking about estate planning often brings up difficult emotions. Your parents may worry about losing independence, becoming a burden, or facing their mortality. Recognizing their feelings and reassuring them that this is about ensuring their wishes are respected can make the conversation smoother.

If they are hesitant, share a story about a friend or family member who had a smooth transition because they planned ahead, or a difficult situation that could have been avoided. Stories help make abstract planning feel more real and relevant.

If you need one, Buried in Work helped a widow in Maryland save $403,000 simply by following our What To Do After Someone Dies checklist. Being prepared matters.

2. Confirm Essential Documents Are in Place

Having the right legal documents prevents confusion and ensures their wishes are followed.

A will ensures their assets are distributed according to their wishes, while a trust can provide additional protection, especially if they own property or have specific plans for inheritance. If they do not have one, encourage them to create one with an estate planning attorney to prevent unnecessary legal battles and probate delays.

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Information Hubs: Wills | Trusts

If your parents become unable to manage their finances, a durable power of attorney allows a trusted person to make financial decisions on their behalf. Without this, a court may need to appoint a conservator, which can be a lengthy and expensive process.

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Information Hub: Power of Attorney

A healthcare directive or living will outlines their medical treatment preferences if they become unable to communicate their wishes. This document ensures that their healthcare decisions align with their values and relieves family members from making difficult choices under pressure.

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Without a HIPAA release, doctors cannot legally share medical information with family members. This document allows designated individuals to speak with doctors and access medical records, which is crucial in an emergency.

Make sure you know where important documents like birth certificates, Social Security cards, property deeds, insurance policies, and financial account details are stored. Having these organized and accessible can prevent delays when they are needed most.

3. Review Financial Information

Helping your parents organize their finances now can prevent stress later.

Understanding what accounts they have, where they are held, and who has access can prevent assets from being lost or overlooked. Include checking and savings accounts, retirement funds, investment portfolios, and pensions.

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Know where their money is coming from, including Social Security, pensions, annuities, rental income, or any other sources. This helps ensure they have enough to cover their expenses and allows for better financial planning.

Keeping track of mortgages, credit cards, medical bills, and other recurring payments ensures these obligations do not become a burden if they become unable to manage them.

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Many assets, such as life insurance policies and retirement accounts, pass directly to the named beneficiary rather than through a will. Ensure their beneficiaries reflect their current wishes to prevent unintended distributions.

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The person named to manage their finances should be aware of their role and responsibilities. They should also have access to the necessary documents when the time comes.

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4. Verify Insurance Coverage

Having the right insurance can protect their financial security and reduce stress.

Make sure policies are active, coverage amounts are appropriate, and beneficiaries are up to date.

Understand what is covered under their existing policies and whether additional coverage may be needed. Long-term care insurance can help cover the costs of in-home care, assisted living, or nursing home care.

Ensure policies provide adequate coverage and that payments are up to date. Uninsured or underinsured assets can create financial challenges later.

Some people prefer to prepay funeral costs, while others may set aside savings. Understanding their plans can prevent unexpected financial burdens on the family.

5. Discuss Healthcare and Future Care Preferences

Making medical decisions in advance helps avoid confusion during emergencies.

Ensure their healthcare wishes, such as resuscitation preferences and pain management decisions, are clearly documented and accessible. If they become unable to make decisions, the individual(s) will medical power of attorney be responsible for making medical choices on their behalf. It should be someone they trust who understands their wishes.

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Ask if they would prefer to stay in their home, move to a retirement community, or transition to assisted living if needed. Planning ahead helps avoid rushed decisions in crisis situations.

Medicare, supplemental insurance, and long-term care policies can impact the type of care they receive. Reviewing these details in advance helps with financial planning.

6. Understand Property and Real Estate Plans

Making a plan for their home and other properties can prevent disputes later.

Gather titles, deeds, and mortgage documents in one place.

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If they want to leave a home to their children, there may be tax or legal considerations to address now.

Clarify their wishes in their estate documents to avoid disputes among heirs.

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Did you know?

The average estate takes 570 hours to administer.

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