Estate Planning Worksheet Template

Estate Planning Template
Estate Planning Worksheet Template Excel

The process of planning someone’s estate will never be very enjoyable. While this is a simple fact it is still a task that must be completed. The Estate Planning Worksheet Template will allow you to easily complete this task in a satisfactory manner so that way you can go ahead and get to the process of healing. It is important to take care whenever you are handling anyone’s financial matters, especially whenever they are at the end of life. No make sure that you are familiar with each of the state’s laws and which ones are applicable to you as things will vary state to state. In this process, we are going to go through how you will be able to use the template in order to properly plan your estate. We are going to cover the steps that you need to go through in order to properly plan the estate and how to use the program in order to keep all of the information organized for your convenience.

How to Use Estate Planning Worksheet Template Excel

The Estate Planning Worksheet Template makes it incredibly easy to keep track of all the incredibly important and vital information you will be gathering to take care of this task. Before you do anything anytime that you are going to be planning an estate you should immediately contact a medical agent.

You are going to need to get a living will taking care of that will allow you to take care of the person’s end-of-life decisions. You will also want to get the power of attorney and a caregiver agreement. This will allow you to have the legal authority to make decisions on behalf of another person if they are unable to make decisions for themselves anymore. You will enter this information into the appropriate spaces on the template once you have completed obtaining the necessary documentation. After you have finished up obtaining all the medical-legal requirements we can begin to look at the financial aspect of things.

For this, you are going to want to obtain a durable power of attorney that will allow you to handle the person in question’s finances on their behalf. This will grant you power over all of an individual’s financial assets including things like real estate retirement savings and even the taxes. Once you obtain all the necessary data for this you will enter it into the appropriate cells as well as the corresponding numbers for the appropriate spaces.

Now we can begin working in earnest on the template. We are going to need to list all of the assets that will be included in the estate planning by creating a list. This includes all items with any type of value. As you go through it will be good if you go category by category. Start by looking at something like real estate and list all of the real estate holdings the individual has and entering the data into the template as you. After completing real estate you can go through insurance and do the same. Continue to do this for each and every category of financial assets that the person holds. Once you have completed entering all of the financial assets of the person we can move on to the next step.

The final part of designing an estate planning is deciding the beneficiaries of the personal assets and choosing a will. The beneficiaries will be the individuals that are bequeathed the estate assets upon the death of the person they belong to. Typically this person can choose to nominate anyone as they are a beneficiary including corporations such as charities. Once the beneficiaries have been selected and it is time to execute the will you will need to have one of two things prepared. You can either have a last will and testament. This is a document that will allow the legal process of giving assets to the beneficiaries to occur. It states exactly which assets will go to whom. Executing a last will and testament will typically take around 6 to 12 months. The other option would be to use a living trust. This will allow you to skip the probate process entirely upon the execution of the trust in comparison to a last will and testament which must go through the probate process. This is highly recommended if there is a chance that the last will and testament will be contested by disinterested third parties. After you finalized these aspects you can and pass that information into the template. Now you have everything that you will need once the time comes to execute the estate plan.

Double-check that you have inputted all of the information correctly before clicking the upper left-hand corner to open the file menu. Browse through the options that appear in the file menu until you see the word save. Click on the save icon and wait until the save dialog box appears on your screen. Click into space where it says filename and then type an inappropriate name so that it will be easily recognizable. Make a backup copy to some form of external storage as well as uploading it to a cloud storage option that is also encrypted. It is highly important that you have multiple redundancies for these things because they have serious legal implications.

Finally, once you have saved the file it is time to print it off so that way you can put a copy of it somewhere secure. Before you finish double-check one final time to make sure that everything is perfect. Now click on the same file menu button in the upper left-hand corner of the screen that you did when you found the save button. This time look through the file menu until you see the print button. Open this up as a click on the print button in order to print your copy. Before you click it however make sure that everything looks good on the print preview screen.

Estate Planning Worksheet Template Excel

Estate planning does not need to be something that is difficult. The Estate Planning Worksheet Template will allow you to take the utmost care with ease. There are many things that you can do in order to make this process even easier. If at any point in time you do not feel that this template is absolutely perfect for you then you will easily be able to modify it to fit your needs more specifically. Microsoft Excel has a ton of easily customizable options that can make it feel like it was custom designed for you.