A comprehensive estate plan covers much more than just a Will. Use this checklist to ensure you've thought of everything and that your family is fully protected.
□ Will: Do you have an up-to-date Will that reflects your current wishes? Has it been reviewed in the last 3-5 years? Does it include guardianship provisions for minor children?
□ Lasting Powers of Attorney: Do you have both a Property & Financial Affairs LPA and a Health & Welfare LPA? Are they registered with the OPG? Have you discussed your wishes with your attorneys?
□ Property ownership: Is your property owned as joint tenants or tenants in common? Have you considered a Property Trust Will? Is your mortgage protection insurance in place and in Trust?
□ Life insurance: Is your life insurance adequate? Is it written in Trust? Are the nominations up to date? Does it cover your mortgage and provide for your family?
□ Pensions: Have you completed nomination forms for all your pensions? Are the nominations current? Have you considered the IHT implications of inherited pensions from 2027?
□ Digital assets: Have you created a digital asset inventory? Have you appointed a digital executor? Are your online accounts and passwords securely documented?
□ Tax planning: Have you maximised your IHT nil-rate band and RNRB? Are you making use of annual exemptions and gift allowances? Have you considered charitable giving for IHT reduction?
□ Advance Decision: Have you made an Advance Decision (living will)? Does it align with your Health & Welfare LPA? Have you discussed your wishes with your family?
At Castle Family Legal, we can work through this checklist with you and ensure every aspect of your estate plan is covered. Contact us for a comprehensive review.
