Estate planning might sound intimidating, but you can actually kickstart a solid estate plan in a single weekend. Whether you’re a young Colorado parent or a soon-to-be retiree, a few focused steps now can save your family countless headaches later. Here’s a step-by-step game plan to get your estate plan rolling by Sunday evening.

Step 1: Set Aside Time and Get Organized

Block out a weekend – literally mark it on your calendar. Start by gathering key information: make a list of what you own (home, car, bank accounts, investments, insurance policies, etc.) and what you owe (mortgages, loans). Jot down account numbers and contact info for banks or insurance. Having an “inventory” of your assets and debts will give you a clear picture of your estate. Don’t forget your digital assets. This also helps you identify which items need special attention (for example: a family cabin or a business).

Take note of beneficiary assets. Some assets pass directly to a named beneficiary and won’t go through probate, the court process after death. These assets can include life insurance payouts, retirement accounts like 401(k)s or IRAs, payable-on-death bank accounts, and jointly owned property. Make a list of these and check who you’ve designated on each account.

Step 2: Update Your Current Documents

Next, update those documents! Before you even talk to an attorney, a lot of your assets might already have beneficiary designations. Since you just compiled that list, make sure those assets go to the right people.

• Update Beneficiary Designations: Review who you have designated as the beneficiary for your assets mentioned earlier. You might be surprised – many people list whoever was default at the time (like “my estate” or an old boyfriend from years ago!). Bring each account’s beneficiary up to date with your current wishes. Most companies let you do this online or via a simple form. Avoid naming minor children directly as primary beneficiaries.
  
• Add Payable-on-Death (POD) or Transfer-on-Death (TOD): For regular bank accounts, many banks allow a payable on death designation – you can name someone who will receive the account funds when you die. Similarly, investment accounts often allow a transfer on death registration to name a beneficiary. Call your bank and ask how to add a POD beneficiary, or check your investment account settings for TOD instructions. By naming beneficiaries on these accounts, those assets will pass directly without getting tied up in probate.
  
• Joint Ownership: If you own property jointly with someone like a home or bank account with your spouse, that property will automatically pass to the surviving joint owner when one of you dies. You don’t need to change anything there, just be aware that jointly owned assets won’t be controlled by a will – the survivor just keeps them.

Bottom line for this step: By updating beneficiaries and using POD/TOD designations, you can make a large portion of your estate “auto-transfer” outside of probate. This means faster access to funds for your loved ones and less court involvement.

Step 3: Choose Your People

A huge part of estate planning is picking the people who will carry out your wishes or step in if you can’t. Take some time to decide who should fill these critical roles:

• Guardian for Minor Children: If you have young kids, this is likely your #1 reason to create a plan. You’ll want to name a guardian in your will to care for your children in case something happens to you and your spouse. Think about who shares your values and would be capable of raising your kids. Talk it over with that person if you can – make sure they’re willing to take on the responsibility. Also choose a backup guardian in case your first choice can’t serve. Remember, if you don’t name someone, a court will decide who gets the kids, and it might not be who you’d want. Take the time to make that decision so that a judge won’t.
  
• Executor/Trustee: This is the person who will settle your affairs when you pass away. You’ll want someone responsible and trustworthy. Common choices are a spouse, an adult child, or a close friend. The job includes gathering assets, paying bills, and distributing property as your will directs. Make sure to ask their permission and let them know where to find your important documents when the time comes. And yes – naming a backup here is wise too, in case your first pick is unable or unwilling to serve.
  
• Financial Power of Attorney: Pick a person who can manage your finances if you’re ever incapacitated. This person will have access to your accounts to pay bills, manage investments, or even make decisions about selling property if needed. It’s often your spouse or a close relative. Without this, even your spouse could be locked out of accounts and unable to pay bills if you’re incapacitated. Choosing an agent and documenting it means your finances stay in good hands no matter what.
  
• Healthcare Power of Attorney: Similarly, decide who would make medical decisions if you cannot. A healthcare POA lets you appoint a healthcare decision-maker to speak with doctors and consent to treatments on your behalf. Think about who would respect your wishes regarding medical care. Have a candid conversation about things like life support or major interventions so they feel prepared. This person could be the same as your financial agent, but it doesn’t have to be. You might choose a friend or family member in the medical field, for example, or just someone who understands your healthcare preferences well. As always, naming a backup is a good idea.

Step 4: Speak to an Estate Planning Attorney

With your information gathered, your key people chosen, and your beneficiary designations updated, it’s time to speak to an Estate Planning Attorney! Whoever you choose will be thankful for your organization and attention to the matter, and if you choose Helland Law, this is the timeline we will use.

• Schedule & Intake: After you schedule your initial meeting here, you will fill out an intake form. Don’t worry though, you already compiled all that information in Step 1. We ask that you finish your intake form at least 48 hours before your design meeting.
  
• Design Meeting: This is where we sit down and design the estate plan that works best for you. At this meeting, you will officially hire me as your attorney, so be certain you want to move forward with our firm before you show up to the meeting. We will come up with the plan that works best for you and agree on the fee, and then you will sign an engagement letter hiring us. Afterwards, we will schedule your next meeting to take place in two weeks.
  
• Review/Drafting: I will compile the notes from our meeting and send them to you for your review. You will have one week to review the plan and make any changes or additions that we did not discuss at our design meeting. After giving me approval on your estate plan, I will spend the next week drafting the plan.
  
• Signing Meeting: Today is the day everything gets put into place. I will have printed out your plan for you to sign and get notarized. Colorado requires two witnesses to be present for creating an estate plan – so bring two friends! At the completion of your signing, we will schedule the follow-up meeting one week later.
  
• Follow-Up Meeting: Now that your estate plan has been signed, I will spend the next week organizing and preparing a packet for you. This packet will include your estate plan, a copy that you can give to any agents you have appointed, an easy to follow summary of your plan, and instructions for you to take the next steps.

By following this process, you can rest easy knowing that all of your wishes have been addressed and you are prepared for anything. All your loved ones need to know is where you keep your estate plan packet, and they will have all the information they could ever hope for.