These 25 questions highlight the basic need to initiate an Estate Plan or update an existing one.

• Do you have a Last Will?
• If you have an existing Last Will have you considered whether a Living Trust might be more appropriate?
• If you have a Living Trust, have you transferred your assets to it?
• Do you have a current Healthcare Power of Attorney that includes the names, addresses and telephone numbers of your designated agents to make medical decisions if you are unable to do so?
• Do you have a current General Durable Power of Attorney that includes the names of your designated agents to manage your finances if you are unable to do so?
• Have you changed your mind about any aspect of your Estate Plan since your Planning documents were signed?
• Has the value of your assets substantially changed since your Planning documents were signed?
• Have you substantially changed the kind of assets you own since your Planning documents were signed?
• Have you married, divorced or widowed since your Planning documents were signed?
• Have you, your spouse, child or intended heir become physically or mentally incapacitated since your Planning documents were signed?
• Do you intend to distribute a specific asset or sum of money to a particular heir?
• Do your Planning documents clearly set forth how your personal property will be distributed at your death, including the care of any surviving pets?
  
• If you have minor children, do your existing Planning documents include named guardians?
  
• If you have minor children, do your existing Planning documents include a provision for the creation of trusts upon your death to hold and manage assets for their benefit beyond the age of 18?
• Do you have a child with special needs?
• Have you had any additional children since your Planning documents were signed?
• Have your children had children since your Planning documents were signed?
• Have any of your children been married, divorced or died since your Planning documents were signed?
• Do you have provisions in your Planning documents that address the issue of death taxes?
• If you intend to make gifts to a charity at your death, is the amount, purpose and identity of the charity clearly set forth in your Planning documents?
• If you intend to make gifts to a charity at your death, have you considered which asset might be best to reduce the impact of death and income taxes?
• Have you bought or sold a house or other real property since your Planning documents were signed?
• Are you contemplating selling stock or other valuable assets with a low cost basis?
• Have you moved from another state since your Planning documents were signed?
• Do you travel often in the US or abroad? If so, what plans or directives are in place in case of an accident resulting in serious injury, disability or death?

We look forward to the opportunity to assist you in creating or updating your Estate Plan. Make an appointment with our firm to review your personal planning considerations to meet your specific needs and desires.