Consider the following when thinking about your estate. Use these questions to help you evaluate where you are in the estate planning process.
Have you created a Will or a Trust?
Does your current Will or Power of Attorney name guardians for any minor children?
Have you transferred assets into your Revocable Trust?
Have you appointed someone to handle your financial affairs if you become disabled?
Do you have a current Health Care Power of Attorney appointing designated agents who will handle your medical care if you become disabled?
Are the people you have named as Agents under your Health Care Power of Attorney or General Durable Power of Attorney still the people you want acting for you?
Are charitable contributions clearly set in your estate planning documents?
Does your estate plan contain clear instructions for dividing up personal property and caring for any surviving pets or children?
Have you changed your mind about any parts of your plan since you have last signed your planning documents?
Have there been substantial changes to the value of your assets since you signed your planning documents last?
Has your estate plan been reviewed since the passage of the SECURE Act in December of 2019?
Have the assets you own substantially changed since the planning documents were last signed?
Have you had any children since you have last signed your estate planning documents?
Have you had grandchildren?
Since you have last signed your planning documents, have any of your children died, been married, or divorced?
Have you gotten divorced or married since your planning documents were last signed?
Have you, your spouse, or child become physically or mentally disabled since you have last signed your planning documents?
Have you purchased or sold any real estate since your planning documents were signed?
Are you thinking of selling stocks or other assets with a low-cost basis?
Have you moved to a new state since signing or planning documents?
Does your Power of Attorney grant the authority necessary to enable your agent to qualify you for Medicaid?
Do you have concerns about paying for long term care?
