--- title: "Estate Planning: 4 Essential Steps To Get Started" description: Estate planning is essential to ensure your family is taken care of, your wishes and wants are carried through, and your financial assets are in order. image: https://blog.cpsinvest.com/hubfs/CPSIA_News_EstatePlanning_4EssentialSteps_Blog-LinkedIn.png --- ![header shape](https://blog.cpsinvest.com/hubfs/raw_assets/public/CPS_Investment_February2023/images/header-shape.png) ![header illustration arc](https://blog.cpsinvest.com/hubfs/raw_assets/public/CPS_Investment_February2023/images/header-arc-shape.svg) [![CPS Invest](https://blog.cpsinvest.com/hubfs/CPS_Investment_February2023/images/header-logo.svg) ![CPS Invest slogan ](https://blog.cpsinvest.com/hubfs/CPS_Investment_February2023/images/header-logo-slogan.svg)](https://cpsinvest.com/) [CLIENT PORTAL](https://login.orionadvisor.com/) - - - - [About](https://cpsinvest.com/#) - [Who We Are](https://cpsinvest.com/who-we-are/) - [Our Team](https://cpsinvest.com/our-team/) - [Our Community](https://cpsinvest.com/our-community/) - [Recognitions & Awards](https://cpsinvest.com/recognitions-awards/) - [Business 401(k) Plans](https://cpsinvest.com/business-401k-plans/) - [Services](https://cpsinvest.com/services/) - [CPAlliance®](https://cpalliance.com/) - [News](https://blog.cpsinvest.com/) - [Contact](https://cpsinvest.com/contact/) # Estate Planning: 4 Essential Steps To Get Started If you've experienced a family member passing without a proper estate plan in place, you understand the challenges surviving relatives face when trying to unravel finances, final wishes, and more. Organizing and preparing your estate plan is a crucial and selfless task that is [overlooked by 76% of Americans](https://www.caring.com/caregivers/estate-planning/wills-survey/). This number continues to increase as younger Americans between the ages of 18 and 35 struggle to find time for estate planning or feel they lack sufficient assets to make it worthwhile. In this article, we outline four essential steps for you to begin creating your estate plan. Let's get started!    ###### Take Inventory of Your Assets and Debts It's important to start by taking inventory of your assets and debts. It's also valuable to organize associated documents and information for your family members or lawyers to easily access them later on. Begin by creating a list of your assets and liabilities to determine your current net worth. Your financial advisor may be able to provide a template for you to use. ###### Clarify Your Wishes Clarifying your wishes is beneficial for both you and your loved ones. While you can ensure your wishes are carried through, your children and loved ones won't have the burden of making difficult decisions after your passing.  Start by asking yourself some key questions to really understand what feels most important to you. Will your children or family receive your assets equally? Do you wish to allocate some of your assets to philanthropic causes, such as your favorite non-profit organization or alma mater? Documenting these wishes will help facilitate your estate planning discussion when you meet with your estate attorney. ###### End of Life and Funeral Arrangements Certain religions have specific requirements and traditions for arrangements after death. If you're not planning a religious celebration of life, you may still have some requests for your service. Informing your estate attorney and advisor of these traditions and wants is crucial to ensure they're seen through.   Additionally, it's also important to discuss your organ donation status with your estate executor. If you are an organ donor, your funeral proceedings may take longer. Your estate attorney can help create a living will directive that specifies and limits which organs can be donated for medical needs, research, and education, as well as the timing of these donations. It's important to make sure that your healthcare professionals, as well as your healthcare surrogate or healthcare power of attorney, have copies of this directive as well.    ###### Assemble Your Estate Planning Support Team Having a team of professionals to help you create your estate plan can alleviate additional stress and questions. Who should your estate planning team consist of? First, having a fiduciary financial planner who understands your financial assets and long-term goals can help you along the way. Don't have an advisor? [Complete the CPS Financial Planning Questionnaire](https://cpsinvest.com/fpq/) to help you get started and chat with one of our knowledgable advisors.  In addition, it's important to add an [estate planning attorney](https://www.nerdwallet.com/article/investing/estate-planning/estate-planning-attorney) and [certified public accountant](https://www.investopedia.com/terms/c/cpa.asp) to your team. Your estate planning attorney will be able to help you create your will or trust, as well as handle the distribution of your estate. Your CPA will advise you on tax considerations when it comes to your plan. With your financial planner, estate attorney and CPA, you'll have a supportive team that you and your loved ones can utilize as a resource.  Now, it's time to get started! While these steps are essential, there are many more involved in creating your estate plan. Download our free Estate Planning Checklist for a step-by-step checklist to help you create your estate plan today! [![CPSIA\_EstatePlanningChecklist\_CTAs\_HERE](https://no-cache.hubspot.com/cta/default/7453821/interactive-175049858393.png)](https://blog.cpsinvest.com/hs/cta/wi/redirect?encryptedPayload=AVxigLI0eP7PF4YkGxYMXSoQVjrqx4qJrtYV2wzViQNfOvwFk0AOUTrjOtd%2BDDKcJuH9EbvptTP1mFTz11ikLvGu5gthDP3NBzSjo8wheb3oj25%2F4cG7pKBPGncY1H5UT8adDlumxBU6p0yFcjz5h2bDTMQwD5mSZ%2Fcn6ColqIwP%2B53CafQ9%2BmfGuD6Oy%2FILKjOKhztHNLEhm6tiwQfCv%2Fwb5WWnc1A2is0GDyHL7swE&webInteractiveContentId=175049858393&portalId=7453821)   ### About the Author [![Derek M. Oxford](https://blog.cpsinvest.com/hubfs/Headshots_2025-46-1.jpeg)](https://blog.cpsinvest.com/author/derek-m-oxford) ### [Derek M. Oxford](https://blog.cpsinvest.com/author/derek-m-oxford) **CFP®, AEP®**Financial Advisor - [mailto:derek@cpsinvest.com](mailto:derek@cpsinvest.com) [READ BIO](https://cpsinvest.com/team-members/derek-oxford/) ## Authored by Derek m. oxford ![Tax Considerations Graphic](https://blog.cpsinvest.com/hs-fs/hubfs/CPSIA_News_TaxConsiderations_Blog-LinkedIn%20(2).png?width=713&height=713&name=CPSIA_News_TaxConsiderations_Blog-LinkedIn%20(2).png) ### Tax Considerations for Effective Estate Planning ![Avoid Probate and Protect Your Assets Graphic](https://blog.cpsinvest.com/hs-fs/hubfs/CPSIA_News_UnderstandingProbate_HowtoAvoid%20it_Blog-LinkedIn.png?width=713&height=713&name=CPSIA_News_UnderstandingProbate_HowtoAvoid%20it_Blog-LinkedIn.png) ### Understanding Probate: How to Avoid It and Protect Your Assets ![Four Essential Steps to creating your estate plan](https://blog.cpsinvest.com/hs-fs/hubfs/CPSIA_News_EstatePlanning_4EssentialSteps_Blog-LinkedIn.png?width=713&height=713&name=CPSIA_News_EstatePlanning_4EssentialSteps_Blog-LinkedIn.png) ### Estate Planning: 4 Essential Steps To Get Started ![](https://blog.cpsinvest.com/hs-fs/hubfs/Blog/CPSIA_News_Understanding529-Derek.png?width=713&height=713&name=CPSIA_News_Understanding529-Derek.png) ### Understanding 529 College Savings Plans: Maximize Education Savings [SEE ALL](https://blog.cpsinvest.com) [![CPS Invest](https://blog.cpsinvest.com/hubfs/raw_assets/public/CPS_Investment_February2023/images/footer-logo.png "CPS Invest")](https://cpsinvest.com/) ©2026 CPS Investment Advisors. All Rights Reserved. [205 East Orange Street, Suite 310 | Lakeland FL 33801](https://goo.gl/maps/uamZJfmYafoQt38u7) TEL [863-688-1725](tel:863-688-1725) | FAX [888-972-5548](fax:888-972-5548) - - - - [Careers](https://cpsinvest.com/careers/) - [Privacy Policy](https://cpsinvest.com/wp-content/uploads/2023/10/PrivacyPolicy_CPSIA_WEB.pdf) - [Terms of Use](https://cpsinvest.com/wp-content/uploads/2023/10/TermsOfUse_CPSIA_WEB.pdf) - [Customer Relationship Summary](https://cpsinvest.com/wp-content/uploads/2023/10/Form_CRS_CPSIA_WEB.pdf) - [Firm Brochure](https://cpsinvest.com/wp-content/uploads/2026/07/Part-2A-CPS-20260320.pdf) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Derek M. 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