8 Essential Estate Planning Checks

If it's been a while since you reviewed your plans—or if you haven't created a will yet—look at these common areas to get you started.

• An up-to-date will and other important documents. Does your will reflect your current circumstances? Are your trust documents, insurance policies and other important records organized?
• Location of your documents. Make sure someone, like an attorney or friend, knows where your important documents are and how to access them.
• Property including jewelry, art and other collectibles. Create an up-to-date inventory list on the computer or make a videotape inventory.
• Charitable giving through your estate.Including Salem Hospital Foundation in your plans may reduce estate tax consequences while helping provide funds needed to continue vital health care programs and services.
• Key advisors, such as attorneys, financial consultants, accountants and insurance specialists. Professional counsel can help determine the best ways to protect your assets.
• Final wishes or funeral arrangements. Communicate your wishes to your family. By making those decisions now, you save loved ones from having to guess at your wishes at a time when they may be overwhelmed with grief.
• A health care power of attorney and a durable power of attorney. Have you named a trusted person to make health and financial decisions for you if you are no longer able to make those decisions yourself?
• Your unique circumstances. Make sure your plans fit your particular situation. For example, you'll want to name a guardian for dependents under your care.