Estate Planning Checklist
1. Gather your important documents prior to your appointment.
- Bank Statements for all accounts.
- Brokerage Account Statements.
- Life Insurance policies.
- Deed to your home / copy of stock certificate for coop.
- Pension fund account statement.
- IRA account statement.
- Shareholders agreements if you own a business with partners.
2. Give some thought to who you want to inherit your property.
- Your spouse if married
- Your children.
3. Give some thought as to who you want to be the executor of your estate.
- Your spouse.
- An adult child.
4. Give some thought as to who you want to be the trustee of your minor children.
- A brother or sister
- A friend.
At your scheduled appointment we will discuss 1 through 4 above. Based on this review, we will together come up with the estate plan that suits you best. Below are the most common estate planning documents that may be considered:
1. Make a Will
- States who will inherit your property.
- Names an executor (person responsible for carrying out your wishes)
- Names a trustee and guardian for minor children.
2. Make a Revocable Trust
- Your beneficiaries won't need to go through the expensive and time consuming probate process with the Surrogates Court.
3. Make a Health Care Proxy
- You can appoint someone to make health care decisions for you if you are no longer able to do so.
4. Make a Durable Power of Attorney
- You can appoint someone with the authority to your finances and property if you become incapacitated and are unable to handle your own affairs.
5. Make a Living Will
- You can declare your desires regarding your medical treatment if you are unable to express your informed consent.