ORGANIZE WHAT YOU OWN List your assets
Document all real estate, investments, retirement accounts, personal property, and bank accounts.
Identify meaningful possessions.
Note any items—financial or sentimental— you wish to pass on to specific people or organizations.
Keep everything secure and accessible.
Ensure your executor knows where your records and important documents are stored.
PUT YOUR WISHES IN WRITING Draft or update your will.
A will is the foundation of any good estate plan, ensuring your wishes are honored.
Consider establishing a trust.
Trusts can help avoid probate and simplify how assets are passed on.
Include the Naval Academy Foundation in your plans.
A bequest is one of the most straightforward ways to create a legacy that supports future midshipmen.
PLAN FOR HEALTH & CARE DECISIONS Create a living will or advance directive.
Document your healthcare preferences for future peace of mind.
Assign a healthcare power of attorney.
Designate someone you trust to make medical decisions on your behalf if needed.
Discuss your wishes with loved ones.
Clear communication helps avoid confusion or conflict later.
APPOINT TRUSTED REPRESENTATIVES Name a financial power of attorney (POA)
Ensure someone can handle your finances if you’re unable to.
Select responsible executors or trustees.
Choose individuals who will follow your instructions faithfully.
Periodically review your choices.
Reassess these decisions as relationships and circumstances change.
DESIGNATE YOUR BENEFICIARIES Review all beneficiary designations.
Check retirement accounts, life insurance, and transfer-on-death accounts—these override your will.
Consider including the Naval Academy Foundation.
Naming the Foundation as a beneficiary of your IRA or retirement account is simple and impactful.
Ensure consistency across your documents.
Make sure your beneficiary forms align with your overall estate plan.
REVISIT YOUR PLAN REGULARLY Review your plan every 3–5 years.
Update your documents after major life events like marriages, births, or relocations.
Consult with trusted advisors
Work with estate attorneys, tax advisors, and financial planners to keep everything current.
Stay focused on your legacy
Small updates today make a world of difference tomorrow—for your family and the causes you care about.