Tuesday, July 17, 2018
Summer can be a busy time with kids out of school and vacations in full swing, but it can also be a prime period to review your estate plan and see if there needs to be any adjustments. Below is a checklist that could assist to make sure you cover the essential points.
- Review your existing Will and any trust agreements.
- Consider whether your named fiduciaries are still appropriate.
- Review your beneficiary designations.
- Consider income tax planning.
- Review existing insurance coverage (life, homeowners, umbrella, disability, long-term care, etc.).
- Review your investments – and your investment advisors.
- Review how your assets are titled.
- Fund your trust(s)
- Determine/confirm your estate tax domicile.
- Get educated – meet with your estate planning attorney and financial professionals to discuss all of the above.
See Lisa P. Staron, July 11, 2018 - Trusts and Estates Group News: Your Mid-Year Estate Planning Checklist, Murtha Law, July 11, 2018.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.