Legacy and transfer review guide
Most estate plan failures are found in this list, not in the drafting.
Documents
- Is your will current with your circumstances and your state of residence.
- If a trust exists, has it actually been funded with the intended assets.
- Are financial and healthcare powers of attorney in place and current.
- Have documents been reviewed since your last major life change.
Designations and titling
- Have you reviewed beneficiary designations on every retirement account and policy.
- Are contingent beneficiaries named.
- Does account and property titling match what your documents assume.
- Are there accounts still in a former employer plan that have been forgotten.
Liquidity
- Could settlement costs, debts and taxes be paid without selling a core asset.
- If a business or property is intended to stay in the family, is there cash to make that possible.
- Have you considered heirs who will not receive a specific asset.
People
- Do your executor and trustee know they were named, and are they still appropriate.
- Does your family know the plan and the reasoning behind it.
- Is there a record of accounts, advisors, policies and passwords someone could actually find.
Important disclosure
This content is general education, not legal, tax or investment advice, and not a recommendation of any specific product. Suitability depends on individual facts, product terms, issuing company strength and current law. Consult your own licensed legal and tax professionals before acting.
Last reviewed 2026-08-09 by Tim Parnell.
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