Estate Planning Checklist

Here are some questions that you will need to answer when considering your estate plans:

Where do you want your money and property to go when you are gone?

  • Do you have minor children to take care of?
  • Do you want to specify that money and property you leave go to a specific purpose, such as education?
  • Are there people you wish to avoid leaving money and property?
  • Do you have a non-relative or non-spousal partner you wish to take care of?
  • Do you wish to leave money to a specific charity or pet?

Who will make your medical decisions when you are unable to do so?

  • Are you married?  Separated?  Do you have adult children?
  • What are your wishes as to life support or resuscitation?
  • Do you have other wishes as to your medical care?
  • Do you have specific wishes as to your remains?

Who will make your financial decisions when you are unable to do so?

  • What kinds of accounts, real estate, or businesses do you have?
  • What specific needs and attention do these affairs require?

What are your concerns about estate taxes?

  • What types of property are you leaving?  Accounts?  Real estate?

If you have a will, is it up-to-date?

  • Does it ensure that your current wishes about what you wish to have done with your estate will be upheld?
  • Does your will include children not born at the time the will was created?

These questions involve difficult decisions, and proper documentation once those decisions are made.  Your attorney can help. and Joseph P. McCaffery & Associates, with offices in Aurora, Chicago and Quincy, Illinois, is committed to ensuring that your wishes are fully upheld when the time comes.

 
Trackbacks
  • 2/10/2008 4:57 PM The Law Blog - Joseph P McCaffery wrote:
    Most of us don’t want to think about the consequences of death or catastrophic illness. Where is the fun in focusing on such negatives? Unfortunately, real problems can result from failing to plan for such eventualities.
Comments
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  • 2/4/2008 9:00 PM Laura Forrester wrote:
    Thank you! This covers all the things I'm so worried about, including:
    -Non-spousal partner I wish to take care of
    -Who will make medical and financial decisions for me if I'm unable to
    -I don't want estate taxes to be a burden on my heirs

    There is so much advice for married couples but little advice available to those of us who consider ourselves married but will suffer financially if we marry in the eyes of the government.
    Reply to this
  • 12/31/2009 2:51 AM Small business planning wrote:
    Thanks for such a nice blog post....i was searching for something like that.
    Reply to this
  • 1/3/2010 11:54 PM Ratios financial analysis wrote:
    Thats really very nice blog, I am impressed.
    Reply to this
  • 1/29/2010 1:36 AM financial performance ratios wrote:
    Great site. I like the way you explain everything without using complicated terms.
    Reply to this
  • 9/9/2010 10:20 AM freelance writing wrote:
    good work
    Reply to this

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