- Designate an agent for your medical care and your financial needs (via Powers of Attorney). Also contemplate your end-of-life decisions (on prolonging care, for example).
- Review and update your will and trust (if applicable).
- Write your Tangible Personal Property Memo, the list of who should get which tangible non-titled item after you’re gone (like the necklace, artwork, or dish collection).
- Name a person(s) to care for your minor children in the event you are incapicated. Discuss this duty with the person you want to name.
- Scrutinize the titling of and beneficiaries of assets (retirement accounts, life insurance, real estate, bank accounts). Change as recommended by your Estate Planning Attorney.
- If you have a trust, have you funded it (as recommended by your attorney)?
- Consider making annual and/or marital gifts.
- Do you have closely-held business interests, non-liquid assets, or other non-standard considerations?
- Will your estate have need for cash to pay debts and administration expenses?
- Speculate on the need for long-term care insurance.
- Discuss burial and funeral arrangements; make your desires on organ donation clear; write an obituary.
- Give consideration to charitable gifts (during your lifetime, at your death, in the form of charitable trusts, as beneficiaries of life insurance or retirement accounts).
- If you have minor children, or plan to leave significant assets to someone who isn’t good with money, discuss alternatives.
- If you have multiple residences, make sure you and your attorney both know this. Where you “domicile” makes a big difference to your estate plans.
The information presented on this website is general in nature and not intended to be legal advice. No attorney-client relationship will exist with Jones, Kuriloff & Sargent, LLC unless we agree in writing after a personal consultation. Please contact us for a consultation on your particular situation.