Questions to Ask Yourself Before Creating Your Estate Plan

Estate planning can feel like a big undertaking, but most of the work isn’t paperwork. It’s thinking. The questions you’ll face as you create your plan are deeply personal, and taking some time to think them through before you sit down can make the entire process feel simpler and less stressful.

You don’t need to have all of the answers right now. You can always update your plan as your life changes. But giving these questions some thought ahead of time will help you move through the process with confidence.

Who Will Take Care of Your Children?

If you have minor children, this is often the most important decision in your entire estate plan. You’ll be naming a guardianThis is where you’ll name a guardian - the person who will raise your kids if you’re not able to.

Some questions to think about:

• Who shares your values and parenting style?

• Are they in a position to take on this responsibility, both financially and emotionally?

• Where do they live, and what would a move mean for your children?

• Would your children’s other parent be involved, and how does that factor in?

• Have you talked to this person about it?

It’s a good idea to name a backup guardian as well, in case your first choice is unable to serve. And remember, you can always change your selection later. For a deeper dive into choosing the right person, read our guide on how to choose and appoint a guardian for your child.

Who Will Manage Your Affairs?

Your estate plan will ask you to name people for several important roles. These aren’t just legal formalities - these are the people who will carry out your wishes.

• Executor for a Will Plan: The person who will carry out the instructions in your will, settle debts, and distribute assets.

• Trustee for a Trust Plan: The person who will manage the assets in your trust and distribute them according to your instructions.

• Healthcare agent: The person who will make medical decisions for you if you’re unable to make them yourself.

• Financial Power of Attorney: The person who will handle your finances if you’re incapacitated.

These can be the same person or different people. The most important thing is that you trust them, and that they know you’ve chosen them.

How Do You Want Your Assets Distributed?

This is the heart of your estate plan. Think about who you want to receive your assets and how you want them divided.

• Do you want everything split equally among your beneficiaries, or do you want different shares for different people?

• Are there specific items you want to go to specific people, like a family home, a piece of jewelry, or a sentimental item?

• Do you want to leave anything to a charity or organization?

• If you have minor children, at what age do you want them to receive their inheritance? You can set conditions like age 25, 30, or after a milestone like graduating from college.

If you’re not sure whether you need a Will Plan or a Trust Plan, our free quiz can help you figure out which is the right fit.

What Happens if You’re Incapacitated?

Most people think of estate planning as something that kicks in after death. But some of the most important decisions are about what happens while you’re still alive.

• If you were in an accident or had a serious illness and couldn’t speak for yourself, what kind of medical care would you want?

• Would you want to be kept on life support? Under what circumstances?

• Who do you want making those decisions for you?

• Who do you want managing your finances if you can’t?

These preferences are captured in your Advance Healthcare Directive and Power of Attorney, both of which are included in every Trust & Will plan. To learn more, visit our guide to healthcare documents in your estate plan.

Do You Own Real Estate or Have Business Interests?

The type and complexity of your assets can influence which plan is right for you.

• Real estate: If you own property, a Trust Plan can help your family avoid probate on that property. If you own property in multiple states, a trust is especially valuable because without one, your family could face probate in each state.

• Business interests: If you own a business, LLC, or partnership shares, you’ll want to think about how that ownership transfers. Our questionnaire includes a dedicated section for business interests.

• Retirement accounts and life insurance: These typically pass by beneficiary designation, not through your will or trust. Make sure your designations are up to date.

For more on how different asset types work in a trust, check out our guide on how to fund a trust.

Have You Talked to Your Family?

This one isn’t a legal question, but it might be the most important. Estate planning decisions are easier to make when you’ve had open conversations with the people involved.

• Does your spouse or partner know your wishes?

• Have you talked to the people you’re naming as guardian, trustee, or executor?

• Do your adult children know where your documents are stored?

These conversations don’t have to happen all at once, and they don’t have to be perfect. But having them can prevent confusion and conflict down the road.

You Don’t Have to Figure It All Out Alone

If any of these questions feel overwhelming, that’s completely normal. Estate planning touches on some of the biggest decisions in your life, and it’s okay to take your time thinking them through.

Trust & Will’s guided questionnaire walks you through each of these decisions step by step. If you want extra guidance, our member support team is available by phone, email, and chat. And if your situation has added complexity, Attorney Support connects you with a licensed estate planning attorney for personalized advice.

The fact that you’re thinking about these questions means you’re ready to start. Take our free quiz to find the right plan for your situation.

Is there a question here we didn’t answer? Browse more topics in our learn center, visit our Frequently Asked Questions (FAQ) page, or chat with our member support!

Trust & Will is an online service providing legal forms and information. We are not a law firm and we do not provide legal advice.