Estate Planning Checklist
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 |
| 
