Checklist for Estate Planning: Things You Need to Know if Planning to Invest in Real Estate

Planning for real estate planning investment is a complex process. Many people do not have an idea about the process. It is the responsibility of a real estate planner to provide advice and approach to invest a better option. With so many aspects, you need a checklist to make sure that your planning is full proof. When reviewing estate documents, financial advisor business plan will help you in guiding through the process. 

An Updated Estate Plan

People believe that having estate planning is only necessary for the wealthy who look to invest in properties. However, if you have any asset, possession, or a loved one to care about, estate planning is the future. If you don’t start to make a crucial decision today, you might feel like a loser in the future. Even if you have a little property, your plan should speak for yourself in case of a mishap. 

Making a plan in time is the first step. If not addressed properly, many components can be left incomplete. There are a lot of consequences around real estate. The circumstance continuously shifts over time. It is necessary to keep a close watch on your estate plan and make necessary changes with time. Professionally you are advised to change your estate planning every two to three years or in case of grave life changes. Get financial advisor business plan to help you with managing the technical part. 

You may need professional help for the same. Making a plan for you could be a difficult task. Therefore, it is necessary to have external help to make better investment decisions. The professionals will take care of all the documentation process and other activities which are required for it. 

It is also essential to keep in mind that the beneficiary form often comes with a will and a trust that you have to assign. For example, if the current will say that your assets should go to your present spouse, but your beneficiary form says that the assets go to your ex-spouse, the money may go to the ex. Thus, all the documents must be kept updated. Insurance policies, retirement plans, IRAs, account transfers should be updated accordingly. 

Checklist for Estate Planning Documents

Your estate plan will only be complete once you have all the updated documents. No matter what your wish or intention says, only the things mentioned on the papers will be believed. Here are the documents to review periodically over a lifetime. Seek the financial advisor business plan to help you solve any issue. 


Make sure that you have assigned a person in your will. Also, indicate the person you want to handle your affairs, after passing. Also, it is a great idea to tell each person about their role in case something occurs unexpectedly. 

Make sure that all the beneficiaries are named correctly. Review and update the list of assets as you keep investing.


Make sure that you have identified a trustee. Review how you have set up the documents. Also, there are a lot of complicated things involved with naming a trustee. Make sure you understand all of this and name a person correctly. 

A durable power of attorney

Make sure that you have mentioned a person to handle your business affairs after you. Do know that the attorney has the right to manage your assets after you. 

Healthcare power of attorney

You need someone to make a medical decision on your behalf if you are unable to do so. 

Final Words
Various financial advisors are available in New York, where each of them claiming to offer the best Business Financial advisors in New York. However, finding the best from the lot could be challenging, and would be discussed in a different article. Hope the above would help you to make right choice. If you have any concerns or queries, do comment below. We will answer them.


Financial Freedom

Leave a comment

Your email address will not be published. Required fields are marked *