Review (or create) your plans in 2019
A Checklist to Help You Get Started
It’s important to review your estate plans regularly to ensure they still accomplish what you want them to, and to make sure they reflect life’s changes. Events like births, marriages and even new tax laws should all trigger a review of your estate plans.
This year, make reviewing (and updating) your plans a priority. Here’s how to get started:
- Review your will. Check for any changes that may need to be made because of a change in your life, or because you want to add a charitable gift to organizations you care about (like your favorite MultiCare program) in your plans. Request our free eBrochure 17 reasons to update your will.
- Confirm your executor. Make sure the person named is still the qualified individual you want to manage your estate, resolve claims and distribute the designated portions of your estate to your chosen beneficiaries.
- Update guardians. Make sure you’re still comfortable with the guardian named in your will for those under your care. If your dependents were minor children that are grown now, does a guardian still need to be listed?
- Review your beneficiaries. Make sure the beneficiaries you have designated for your insurance and retirement plans are up to date. Once you’ve named someone a beneficiary, let them know so they can claim the proceeds.
- Check your power of attorney. Make sure your durable powers of attorney for financial and health care are current. Provide a copy of your financial power of attorney to the named person. Your health care power of attorney will need a copy, along with your health care provider.
- Talk with your advisors. If during your review you find you have questions or changes, contact your trusted legal, tax, financial and insurance advisors to discuss your options or to make changes.
No estate plan? Here’s the consequence:
Think about everything you care deeply about: your family, your friends and charitable organizations, like MultiCare. Now think about everything you own: bank accounts, real estate, stocks, retirement plans, life insurance, antiques and jewelry. When you’re gone, will the things you own go to the people and causes you love?
If you don’t have an estate plan, state law will decide how your property is distributed, and those you care about could wind up with only some — or none — of your assets.
An estate plan is like a guide for your family — a map of your passions that helps your loved ones know what to do in the weeks and months after you’re gone.
A solid estate plan will:
- Preserve your loved ones’ inheritance.
- Provide for a guardian of any children or dependents in your care.
- Help support your charitable causes, like your favorite MultiCare program, well beyond your lifetime.
Your next steps
You don’t have to do it alone. (In fact, you shouldn’t.) An estate planning attorney will help ensure that your documents are in order and your family is cared for. You need someone who understands state and federal laws and someone who can help translate your wishes.
Prepare for meeting with your estate planning attorney:
- Make a list of your major assets. This should include real estate, stocks, retirement plans, life insurance, bank accounts, certificates of deposit, art, antiques and jewelry. To help you prepare, download our free eBrochures How to prepare to meet with your attorney, Estate planning startersand Your guide to locating important documents.
- Consider everyone you wish to benefit. If you’re thinking about including a gift to support your favorite MultiCare program, please let us know. We can provide official legal wording for your will or discuss how your gift will further our mission. We would also love the opportunity to thank you for your gift.
If you have questions about your estate plan, or are interested in including a gift to support MultiCare in your plans, please contact our gift planning team at firstname.lastname@example.org or 253-403-3093. We are happy to help.