- Do we need a living trust so that our estate avoids probate?
- Do we have a Bypass Trust or QTIP trust in our living trust so that estate taxes are minimized and our children are protected?
- Does our living trust or will create a trust for our children if something happens to both of us?
- Do we need a life insurance trust so that our family (not the IRS) receives the proceeds?
- Is the amount and type of life insurance we have adequate for our family’s needs?
- Do we have a buy-sell agreement for our business so our family will not suffer a financial hardship?
- Are all of our assets (house, bank accounts, partnership interests and personal property) in our living trust?
- If we owned any property as “joint tenants”, did we consider changing the ownership to “community property with right of survivorship” as allowed by new legislation?
- Who is the beneficiary of our retirement plans (spouse, a charity or the living trust)?
- Does our estate plan fulfill our charitable goals?
- Have we reviewed our estate plan within the last 2 years?
- Have we put our estate planning documents in a safe place (a safe deposit box or fireproof safe)?
Friday, August 14, 2009
Estate Plan Checklist for Those we Love
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About Me
- Michelle C. Lerman
- My name is Michelle Lerman and I'm a Certified Specialist in Estate Planning, Trust & Probate Law by the California Board of Legal Specialization of the State Bar of California. I have been in practice for 21 years and I'm the co-chair of the Marin County Bar Association Mentor Group, member of the Marin Estate Planning Council, JCEF Estate Planning Subcommittee and member of the Marin County Bar Association Board of Directors. I have been recently added to the list of 2009 Super Lawyers and love doing what I do.
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