What types of estate planning documents can I create in Covet?
Covet helps you organize your financial life by allowing you to create essential estate planning and asset management documents in one secure, easy-to-use dashboard. Whether you’re planning for the future or organizing your current holdings, Covet gives you the tools to create meaningful documents and maintain an up-to-date inventory of your estate.
Estate Planning & Management Documents You Can Create in Covet
Below is a breakdown of the estate documents you can create in Covet and the benefits of each.
🧾 1. Last Will & Testament
What it is:
A Last Will & Testament is a legal document that allows you to specify how your assets should be distributed after your death, name guardians for minor children, disinherit people who you wish to receive nothing from your estate, and designate an executor to carry out your wishes.
Benefits:
-
Ensures your assets are distributed according to your specific wishes.
-
Allows you to appoint guardians for minor children.
-
Reduces uncertainty and disputes among heirs.
-
Provides peace of mind that your estate will be handled as you intend.
See also article titled: "How to do I tie my Covet Estate Summary to my existing will?"
See also: "How do I sign my will?"
2. Power of Attorney (POA)
What it is:
A Power of Attorney document grants someone (your “agent”) the authority to make financial or legal decisions on your behalf if you’re unable to do so.
Benefits:
-
Ensures someone you trust can manage your affairs if you’re incapacitated.
-
Can be tailored to specific tasks, such as financial decisions or property management.
-
Helps avoid court-appointed conservatorship.
See also article titled: "What is the purpose of a Power of Attorney Form?"
4. Personal Property Insurance Inventory Form
What it is:
A structured list of your valuable possessions, accounts, real estate, digital assets, and other holdings — all in one place.
Benefits:
-
Provides a comprehensive snapshot of your assets.
-
Makes it easier for executors and heirs to locate and manage property.
-
Reduces the risk that important items are forgotten or overlooked.
-
Helps you keep beneficiaries, account information, and documentation up to date.
See also article titled: "What is the purpose of a Personal Property Insurance Inventory Form?"
6. Covet Estate Summary
What It Is:
The Covet Estate Summary is a comprehensive, centralized overview of your estate that brings together your full property and asset inventory along with beneficiary and title organization data into one clear document. It is designed to provide the people managing your estate (like executors and loved ones) with clarity about what you own, how it’s titled, and who you want to receive each asset.
What It Includes:
-
Detailed Asset Listings: All of your financial accounts, real estate, vehicles, valuable personal property, and other holdings — with relevant details like ownership, account numbers, and valuations.
-
Property & Title Information: How each asset is titled which determines how assets transfer at death.
-
Beneficiary Instructions: Clear allocations showing who you want to receive each asset and in what proportions — so distributions align with your intentions.
-
Reference for Estate Documents: Helpful guidance on how to tie the Estate Summary back to your will or other planning documents, making administration more straightforward.
Why It Matters:
-
Clarity for Estate Managers — Makes it easy for executors, trustees, and family to find information quickly and avoid confusion or conflict. help.covet.life
-
Aligned with Legal Processes — Includes instructions for how to integrate the summary with your will and estate plan in many states, supporting effective administration. help.covet.life
-
Reduces Stress During Hard Times — Provides your loved ones with the guidance they need when emotions are high, helping reduce delays and frustration in settling your affairs. help.covet.life
-
Supports Insurance & Loss Claims — Because it’s a detailed property listing, it can also be useful in insurance situations (e.g., after a loss) where proof of ownership is needed. help.covet.life
How Covet Uses It:
Once you’ve entered your asset and beneficiary information in Covet, the platform compiles the Estate Summary for you to download, share, and update as needed — acting as a living snapshot of your estate that evolves with your life.
See also article titled "What is the Covet Estate Summary?"
Why These Documents Matter
Together, the documents you create in Covet help you:
✔ Clarify your wishes for loved ones and your legacy
✔ Prepare for unexpected life events
✔ Streamline and possibly avoid costly and time-consuming legal hurdles like probate
✔ Ensure assets are managed according to your values
✔ Provide clear instructions for executors and family
How Covet Helps You Create These Documents
Covet’s guided tools walk you step-by-step through each document type, asking clear questions and explaining each choice. Once completed, your documents are:
Downloadable and printable
Stored securely
Easy to update as your life changes
-End of Article-
Covet does not provide any legal, investment, accounting, financial, and/or tax advice. The Covet site includes access to software and self-help materials, which are not substitutes for the advice of an attorney, financial advisor and/or accountant.