Estate planning allows you to take control of your future, protect your loved ones, and ensure your wishes are respected. Many people delay the process because it feels difficult or uncomfortable to think about. In reality, creating a clear checklist makes the process easier to manage and helps you avoid leaving important details unresolved.
Below, we outline the key items to include on your Pennsylvania estate planning checklist.
Start with a List of Assets
A good first step is to create a full inventory of your property and accounts. This gives you and your attorney a clear view of what needs to be addressed in your plan.
Include items such as:
- Bank accounts, retirement accounts, and investments
- Real estate holdings
- Business interests
- Vehicles, jewelry, and valuable personal property
- Life insurance policies
Having this list in one place ensures nothing is overlooked when drafting your documents.
Decide How Assets Will Be Distributed
The heart of any estate plan is deciding who inherits what. Without a plan, Pennsylvania’s intestacy laws determine distribution, which may not match your wishes.
Questions to consider:
- Which family members, friends, or organizations should inherit specific property?
- Do you want to make charitable gifts?
- Should certain assets be divided equally or kept intact (such as a family home)?
It may help to discuss your decisions with loved ones or include written explanations in your plan to reduce the risk of disputes.
Address Health Care Decisions
Estate planning is about more than financial matters. Your checklist should also include directions for medical care if you are unable to speak for yourself.
Key documents include:
- Living Will: States your preferences about life-sustaining treatment in end-of-life situations.
- Health Care Power of Attorney: Names a trusted person to make medical decisions if you become incapacitated.
These documents give your family clarity and peace of mind during difficult times.
Choose People for Key Roles
Trusted individuals will carry out your plan. Selecting the right people is just as important as deciding how assets are distributed.
You will need to appoint:
- Executor (Personal Representative): Manages your estate, pays debts, and distributes property.
- Agent Under Durable Power of Attorney: Handles financial and legal matters during your lifetime if you cannot.
- Health Care Surrogate: Makes medical decisions in line with your wishes.
Think carefully about who has the ability, judgment, and availability to take on these roles.
Plan for Minor Children or Dependents
If you have young children or dependents who need ongoing care, your estate plan should provide for their future.
- Name guardians who will raise your children if you cannot.
- Consider a trust to manage assets for minors until they reach adulthood.
- Address any special needs planning if a dependent requires long-term support.
Review and Update Regularly
Estate planning is not a one-time task. As your life changes, your plan should change too. Major life events that may require updates include:
- Marriage or divorce
- Birth or adoption of a child
- Significant changes in assets or debts
- Relocation to another state
- Death of a spouse, child, or beneficiary
Regular reviews help keep your plan aligned with your goals.
How Jones, Gregg, Creehan & Gerace Can Help
At Jones, Gregg, Creehan & Gerace, we know estate planning is deeply personal. We take the time to understand your family, your values, and your goals. From drafting wills and trusts to preparing powers of attorney and health care directives, we will help you create a plan that protects what matters most to you.
Start Building Your Estate Plan Today
Putting your wishes in writing is one of the best ways to protect your family. Our team at Jones, Gregg, Creehan & Gerace is here to guide you through every step. Contact us today to schedule a consultation and start building an estate plan that gives you peace of mind.