Estate Planning Checklist for Bellevue Families

Most families know they need a plan but do not know where to start. Whether your estate is simple or complex, working through this list with a Bellevue estate planning attorney will give you and your family peace of mind.

Step 1: Take Inventory of Your Assets

Before meeting with an attorney, list everything you own. Bellevue families should gather:

• Bank accounts (checking, savings, CDs) — include institution names and approximate balances
• Real estate — your Bellevue home, rental properties, vacation homes, and any property in other states
• Investment and brokerage accounts
• Retirement accounts — 401(k), IRA, Roth IRA
• Life insurance policies — include death benefit amounts
• Stock options, RSUs, ESPP shares (especially for tech employees at Microsoft, Amazon, Meta)
• Business interests — LLCs, partnerships, shares in private companies
• Vehicles, valuable personal property, collectibles
• Digital assets — cryptocurrency, online accounts, domain names

Also list your debts — mortgage, auto loans, credit cards, student loans. Your estate plan needs to account for how debts will be paid. See our cost guide to budget for the planning process.

Step 2: Decide Who Gets What — and When

Think about who you want to inherit your assets and under what conditions. Common questions for Bellevue families:

• Do you want everything to go to your spouse, or split between spouse and children?
• At what age should children inherit — 18, 25, or 30? Most planners recommend staggering distributions (e.g., 1/3 at 25, 1/3 at 30, 1/3 at 35).
• Do you want to make gifts to charities, religious organizations, or educational institutions?
• Are there family members who should not receive assets directly, or who need special management (e.g., a child with disabilities or a spendthrift child)?
• Do you have blended family considerations — children from a previous marriage?

Step 3: Choose Your Key People

Your estate plan names people to fill important roles. Think about each of these:

• Guardian for minor children: Who raises your children if you cannot? Always name an alternate. See our Washington guardianship guide for details.
• Executor or personal representative: Who handles probate if you use a will? This should be someone organized and trustworthy.
• Trustee: If you have a living trust, who manages it after you? This can be a family member, a professional trustee, or a co-trustee arrangement.
• Power of attorney agent: Who handles finances if you become incapacitated?
• Healthcare directive agent: Who makes medical decisions if you cannot? In Washington, this is called a healthcare power of attorney or healthcare directive.

Step 4: Create Your Core Documents

Every Bellevue estate plan should include these core documents, drafted by a Washington-licensed attorney:

• Last will and testament — or a pour-over will if you have a living trust. This names your executor and guardian and handles any assets not in the trust. Learn more about wills in Bellevue.
• Revocable living trust — if your estate is above $100,000 or you own real estate, a trust avoids probate. See our Bellevue trusts attorney page.
• Durable power of attorney — authorizes someone to handle your finances if you are incapacitated.
• Healthcare directive — Washington's version of a living will and healthcare power of attorney.
• HIPAA authorization — allows loved ones to access your medical records if needed.

Step 5: Update Beneficiary Designations

Beneficiary designations on retirement accounts, life insurance, and stock plan accounts override your will and trust. This is the most common estate planning mistake. Review every beneficiary designation at least every 2-3 years. Make sure they match your overall plan. If your will says everything goes to your spouse but your 401(k) names your brother from 15 years ago, the 401(k) wins. A Bellevue estate planning attorney should review these with you.

Step 6: Fund Your Trust

If you set up a living trust, you must transfer your assets into it. A trust that is not funded does not avoid probate. This means retitling your Bellevue home, bank accounts, and brokerage accounts in the name of the trust. See our trust vs. will guide to understand why funding is essential.

Step 7: Store Documents Safely and Tell Your Family

Keep original documents in a safe place — a fireproof safe, a bank safe deposit box, or your attorney's office. Tell your executor and trustee where to find them. Give copies of your healthcare directive to your doctor and your healthcare agent. If your family cannot find your estate plan, it is as if it does not exist.

Frequently Asked Questions