Estate Planning Checklist

Estate planning is the process of organizing your assets, legal documents, and healthcare decisions so your wishes are carried out if you become incapacitated or pass away, while also protecting your family from unnecessary legal and financial complications. This checklist walks through the key steps involved, including creating wills and trusts, choosing executors and guardians, updating beneficiary designations, preparing powers of attorney and healthcare directives, and planning for probate, taxes, long-term care, and special family circumstances.

If you own a home or other assets in Florida, having an estate plan is not optional—it is essential. After more than 40 years practicing probate and estate planning, I’ve seen firsthand what happens when families plan properly—and what happens when they don’t.

As an attorney, former CPA, and holder of a Master’s in Estate Planning, I approach estate planning from both a legal and financial perspective. This checklist is designed to help you understand what an effective estate plan should include and why each step matters.

1. Create or Update Your Will

A will allows you to:

• Name who inherits your assets
• Appoint a personal representative
• Name guardians for minor children

However, a common misconception is that a will avoids probate. It does not. If you have to read the will to determine who receives an asset, that asset must go through probate to be legally transferred.

Real-World Insight

I often meet families who believe bringing a will to the bank is enough. It isn’t. Only the probate court can accept a will and issue Letters of Administration, which authorize asset transfers.

2.  Consid er a Revocable Living Trust

One of the most effective estate planning tools is a revocable trust. When properly funded, a trust:

• Avoids probate
• Reduces delays and court costs
• Provides privacy

Case Example

Many Florida retirees own multiple properties or investment accounts. Without a trust, heirs may face formal or even ancillary probate proceedings. A properly funded trust can eliminate those complications entirely.

3. Review How Your Assets Are Titled

Asset titling determines whether probate is required:

• Individually owned assets typically require probate
• Joint ownership with rights of survivorship avoids probate
• Trust-owned assets bypass probate

Professional Tip

I’ve handled countless cases where estate plans failed simply because assets were never retitled into the trust. An estate plan is only effective if your assets are aligned with it.

4. Add Beneficiaries to Financial Accounts

Bank accounts, retirement accounts, and brokerage accounts can often pass directly to heirs by naming beneficiaries.

This step:

• Avoids probate
• Speeds up distribution
• Reduces legal costs

Common Mistake

Failing to update beneficiary designations after a divorce or remarriage is one of the most common—and costly—errors I see in the administration of estates after death. 

5. Plan for Real Estate Transfers

Real estate often creates the biggest probate delays.

Options include:

• Transferring property in a revocable trust
• Adding heirs as remaindermen through a quitclaim deed or ladybird deed

Real-Life Scenario

If real estate does not have a co-owner with rights of survivorship or it is not held in name of trust, probate is required before ownership can transfer—even if there is a will.

6. Prepare for Blended Families and Second Marriages

Second marriages and stepchildren often lead to disputes if planning is unclear.

An effective estate plan should:

• Clearly define who receives what
• Address how property will be sold or retained
• Prevent conflicts over personal property like jewelry or family heirlooms
• Establish who makes medical and long-term care decisions. 

Experience Matters

I’ve handled many contested estates where disagreements among second spouse, children, or stepchildren led to lengthy and expensive litigation—often entirely avoidable with proper planning.

7. Plan for Incapacity, Not Just Death

Estate planning is not just about what happens when you die. It should also address incapacity.

Your plan should include:

• Durable powers of attorney
• Health care directives

These documents allow trusted individuals to manage finances and medical decisions if you become ill or incapacitated.

8. Understand Probate  Timelines and Costs

Probate is not quick. In Florida, it typically takes 6–12 months , and longer if disputes arise.

Understanding this reality is critical when deciding whether to:

• Rely solely on a will
• Use trusts and beneficiary designations to minimize probate

9. Review and Update Your Plan Regularly

Life changes—your estate plan should too.

Update your plan after:

• Marriage or divorce
• Birth of children or grandchildren
• Buying or selling real estate
• Changes in tax or probate laws
• Increase or decrease in wealth

10. Work With an Experienced Estate Planning Attorney

Estate planning is not a one-size-fits-all process. After more than four decades handling formal administration, summary administration, ancillary probate, and contested estates , I’ve seen how small planning mistakes can create major problems for families.

Whether you:

• Have no estate plan
• Have outdated documents
• Recently lost a loved one

Working with an experienced estate planning and probate attorney can save your family time, money, and emotional stress.

Final Thoughts

An effective estate plan protects your family, preserves your assets, and minimizes probate delays and costs. The best time to plan is before illness or death, when you can make thoughtful, informed decisions.

If you are a Florida retiree who owns a home, other real estate, or has saved money for retirement, I encourage you to schedule a review of your current estate plan—or create one if none exists. Proper planning today can prevent unnecessary probate challenges tomorrow.