Use estate planning to maximize your legacy.
Maybe you’ve just purchased a house, or you’re looking ahead to retirement or the birth of a child. Whatever your stage in life, it’s important to have a long-term plan for your assets.

Through estate planning, you make your wishes clear regarding who gets what, and under what terms, after your death. You can also make financial provisions for yourself and your family should you be incapacitated in an accident or illness.

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Start planning with our checklist

 Designate your beneficiaries

These are the people you want to receive assets like cash, investments, real estate, art, collectables, and more. You can also designate your assets to a charitable institution, like a university or nonprofit organization.  

 Take an inventory of your assets

Estimate the income needs and expenses of your family should you die or become incapacitated. 

 Research estate planning information

Certain structures for your assets, like trusts, can determine the speed of transfer to beneficiaries and the taxes you pay, as well as offer control, flexibility, and privacy. Consult with an estate planning attorney for your specific situation.

 Review your estate plan periodically

Be sure to make updates when life changes, like marriage, happen. And share your plans with your loved ones throughout the process.

Minimize taxes

Federal taxes on estates and gifts are among the highest you and your family will ever pay—and sometimes states impose their own taxes. The more you know about federal inheritance tax, federal estate tax, and gift tax rates, the more you’ll be able to give to your loved ones.

Get specific

Use these estate planning tools to designate the beneficiaries of your assets and how you wish your assets to be distributed.


Make sure you, not the courts, define who gets what.


Get more privacy and control—and possible tax advantages.

The T. Rowe Price Program for Charitable Givingsm

Factor philanthropy into your long-term legacy.

All investments are subject to market risk, including the possible loss of principal.

This material is provided for general and educational purposes only, and is not intended to provide legal, tax or investment advice. This material does not provide fiduciary recommendations concerning investments or investment management; it is not individualized to the needs of any specific benefit plan or retirement investor, nor is it directed to any recipient in connection with a specific investment or investment management decision.

The T. Rowe Price Program for Charitable Giving is an independent, nonprofit corporation and donor-advised fund founded by T. Rowe Price to assist individuals with planning and managing their charitable giving.