Estate Planning
Common Elements of an Estate Plan
1. Valid current Will
2. Valid, current Powers of Attorney
3. Ownership structure – real estate holdings
4 Business and Succession Planning
5. Planning for incapacity
6. Gifting
7. “Death” Taxes
8. Pre-planned funeral arrangements
9. Up-to-date family inventory of assets and liabilities
10. Personal & Professional Advisors
11. Periodic review with your lawyer and accountant
Creating Your Estate Plan
1. Prepare an inventory of your assets and liabilities
2. Define your estate planning objectives
3. Evaluate your objectives based on your current situation (i.e. assets and liabilities)
4. Determine which actions are necessary to achieve your objectives
5. Consult with the appropriate advisors to implement the components of your plan
6. Periodically review your plan
