Estate Planning Checklist: Documents Everyone Needs
9 min read · Updated March 2026
Essential Documents for Everyone
Every adult over 18 needs at minimum: a last will and testament ($300-$1,200), a financial power of attorney ($100-$300), a healthcare power of attorney ($100-$300), a living will/advance directive ($100-$300), and HIPAA authorization forms (often free). Total cost for a basic estate plan: $600-$2,100. This is the foundation that protects your family.
Additional Documents for Parents
Parents should also have: guardian designations for minor children (included in will), children's trusts to manage inherited assets (included in trust or will), life insurance beneficiary reviews (free to update), and 529 plan successor designations. The guardian designation alone makes a will essential for every parent.
Documents for Homeowners and Investors
Property owners and investors should add: a revocable living trust ($1,500-$5,000) to avoid probate, beneficiary deeds for real estate ($200-$500), transfer-on-death designations for investment accounts (free), and possibly an irrevocable trust for asset protection ($3,000-$10,000+).
When to Update Your Estate Plan
Review your plan every 3-5 years and after any major life event: marriage, divorce, birth of a child, death of a beneficiary, significant change in assets, moving to a new state, changes in tax law, or changes in your wishes. Many attorneys offer update services for $200-$500.
Frequently Asked Questions
What is the minimum estate plan I need?
At minimum: a will, financial power of attorney, healthcare power of attorney, and living will. Total cost: $600-$2,100 with an attorney.
Do I need an attorney for estate planning?
For simple plans, online services work. For anyone with real estate, minor children, blended families, or assets over $200,000, an attorney prevents costly errors.