‘Checklist for Life’ – A Useful Tool in Estate Planning

The following is from Tim Grant, Bank puts estate planning checklist onto the Internet, post-gazette.com, Feb. 14, 2008:

[T]alking to family members about death and dying can be among the toughest conversations to have. But managers at Huntington Bank have created a Checklist For Life to get the conversation started. The checklist is available on the bank's Web site at www.huntington.com. Such checklists are commonly used by lawyers and financial planners, but are not commonly placed on the Internet.***

People who will be transferring their wealth need to understand where they are right now in terms of their net worth, what they own, how they own it and what they want to happen to it at the end of their lives.***

Dying without an estate plan means you are not making final decisions on distribution of your assets, including amounts and percentages. Without a will, the state makes those determinations for you.***

Special thanks to Neil E. Hendershot, Esq. (Attorney at law, Goldberg Katzman, P.C., Adjunct Professor, Widener University School of Law) for bringing this article to my attention.  You can read more on Neil's blog at PA Elder, Estate & Fiduciary Law Blog.