Estate Planning Checklist
GOLLIHUGH FINANCIAL SERVICES
4 DUNNINGTON COURT
SPRINGBORO OHIO 45066
937-748-4504
o Find a qualified attorney. (Wealthy friends, your bank trust department, and the state bar association can provide referrals.)
o Decide who will be your co- trustee or successor trustee for your revocable living trust.
o Decide who will act as guardian for your minor children if you and your spouse died together in an accident.
o Decide who will act for you in the health-care power of attorney.
o Decide who will make the decision to enact your living will (pull the plug).
o Contact each IRA, 401 (k) or 403 (b) plan provider and asked to check the name of the beneficiary you have designated. ( Hint: Do this after your estate planning session, which might lead you to reconsider who gets what.)
o Evaluate the ownership and but the beneficiaries of your life insurance policies. If you have minor children, make sure you have established the proper trust relationship if they are life insurance beneficiaries.
o Consider carefully the issue of who gets what. Remember, dividing an estate equally might not be “fair”, but dividing an estate unequally is asking for discord.
o Make a last of where all important documents can be found, in case of emergency. List the name and phone number of your professional advisers: attorney, physicians, accountant, insurance agent, and financial planner. Give location of your cemetery deed and funeral instructions. Be sure to include the name and number of the estate planning attorney who has a copy of your Revocable Living Trust. Then leave the basic information not necessarily the details of your assets or bequests in a location where your spouse, child, or successor trustee can be easily access it if you are incapacitated.
4 DUNNINGTON COURT
SPRINGBORO OHIO 45066
937-748-4504
o Find a qualified attorney. (Wealthy friends, your bank trust department, and the state bar association can provide referrals.)
o Decide who will be your co- trustee or successor trustee for your revocable living trust.
o Decide who will act as guardian for your minor children if you and your spouse died together in an accident.
o Decide who will act for you in the health-care power of attorney.
o Decide who will make the decision to enact your living will (pull the plug).
o Contact each IRA, 401 (k) or 403 (b) plan provider and asked to check the name of the beneficiary you have designated. ( Hint: Do this after your estate planning session, which might lead you to reconsider who gets what.)
o Evaluate the ownership and but the beneficiaries of your life insurance policies. If you have minor children, make sure you have established the proper trust relationship if they are life insurance beneficiaries.
o Consider carefully the issue of who gets what. Remember, dividing an estate equally might not be “fair”, but dividing an estate unequally is asking for discord.
o Make a last of where all important documents can be found, in case of emergency. List the name and phone number of your professional advisers: attorney, physicians, accountant, insurance agent, and financial planner. Give location of your cemetery deed and funeral instructions. Be sure to include the name and number of the estate planning attorney who has a copy of your Revocable Living Trust. Then leave the basic information not necessarily the details of your assets or bequests in a location where your spouse, child, or successor trustee can be easily access it if you are incapacitated.
posted by crg1 at 2:55 PM
0 Comments:
Post a Comment
<< Home