![]() And consider who you would add as a backup in case they’re unable to perform in the role. Make sure you speak with them so they’re aware of the appointment. They will act on your behalf if you are incapacitated. Choose the person or persons you want as your Power of Attorney for health care.Make note of any disability income insurance available for your care if needed. ![]() Record life insurance policy information: Include policy numbers, the company issuing the policy amounts payable, and named beneficiaries on the policies - both personal and employer group policies.This reduces taxes, and it means payments are made to beneficiaries much faster. If there is a named beneficiary on a policy/account, it will go directly to that person rather than being covered by your will. Ensure that you have named beneficiaries for investments such as RRSPs and LIFs: You can work directly with your financial institution or insurance company to add/update any named beneficiaries.a mortgage or loans) This ensures your executor will know what debts need to be paid from your estate. Rather this list of assets will help inform whether you want to leave certain items or accounts to specific people. ![]() So it’s not necessary to list everything in detail. your house and investments) Note that your will covers your umbrella estate (everything you own). ( Download it here.) And we have compiled the following steps you can take to provide as much information as possible for your executor and create your estate planning checklist: The important paperwork: Online estate planning platform Willful has compiled a helpful checklist to help you prepare to write your will and Power of Attorney documents. While you don’t need to list your net worth or include detailed inventories, the more information you compile for your executor, the easier their job. In reality, it’s a simple legal document that outlines a few key roles. Many people think writing your will is a daunting, overwhelming process.
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