Estate Planning Checklist
June 24th, 2010
Below are some estate planning profile checklist questions to help you determine if you need an estate plan.
| 1. | Estimated total net worth __________________ | |
| 2. | Do you have a will? | Y/N |
| 3. | Do you have a will that takes advantage of the $1,000,000 exemption equivalent? | Y/N |
| 4. | Do you have a will that takes advantage of the $1,120,000 Generation Skipping Exemption? | Y/N |
| 5. | Do you have trusts in Will for children and grandchildren? | Y/N |
| 6. | Do you have all assets titled properly to take advantage of the $1,000,000 exemption and the $1,120,000 Generation Skipping Exemption? | Y/N |
| 7. | Do you have liquid assets set up in their tax exempt estate (outside their estate) to pay estate taxes. | Y/N |
| 8. | Have you done financial projections to determine your exposure to estate taxes in the future? | Y/N |
| 9. | Have you claimed maximum discounts on any gifts your made? | Y/N |
| 10. | Have you reviewed/created a buy/sell agreement for your business? | Y/N |
| 11. | Have you done the proper planning so you don’t fall into the IRA / Qualified Plan trap (up to 70% of retirement plan to the government)? | Y/N |
| 12. | Do you have mandatory or discretionary income in the unified credit trust? | Y/N |
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Tax Qualified Retirement Plans
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