According to recent research by NerdWallet, only 2/3 of couples have proper insurance and 43% of those couples say they are not financially prepared for estate planning. Here are five simple steps to take into account what you need to do for estate planning. 

1. Calculate the need by adding all of your long term expenses multiplied by the number of years you need to cover and then subtract any annualized income.
2. Know the details. Only 67% of individuals without children know the details of their policies and women are less likely than men to know. You need to know who holds the policy, why it was taken out, the total payout costs and possible exploration.
3. Do a will. A 2013 Harris poll reported that as many as 70% of adults with young children had no will at all.
4. Keep your records where they can easily be found. 30% of married adults and children do not know how to access critical information regarding medical conditions or other issues.
5. Talk about final wishes. Of those married individuals with children, 55% knew their spouse’s wishes but the remainder did not. Having these conversations and knowing how to have these basics in place can help to prevent confusion or frustration if something were to happen to you.