Santa has his checklist for the naughty and nice. You may have a checklist for holiday gifts and groceries. But have you considered another important inventory: a checklist of your family's estate planning needs and wishes?
On this Life Happens Radio podcast, attorneys Lou Pierro and Frank Hemming run down a 'holiday checklist' with topics you may not have considered. Family gatherings are a great opportunity to take stock of what you have-- and to consider whether estate and long-term care planning documents are up to date.
Consider, for example:
You may have executed a will 15 years ago, but do the beneficiaries and titling of assets reflect your current wishes?
Have you structured assets within a trust to minimize taxes and to consider changes in the 2018 Federal tax law?
Is your plan 'divorce-proof' for the day when assets are distributed to your children and grandchildren?
Do you have a 'disposition of remains appointment' as part of your estate?
Have you planned ahead to qualify for Medicaid benefits? (We've got the new 2019 numbers)
Grab a pen and paper and listen to this podcast to personalize your own 'holiday checklist,' and start the New Year off with security and confidence.