Key Questions for an Estate Plan
Is “control from beyond the grave” important?
Some questions you may wish to review if you are thinking of creating an estate plan:
- Will there be an estate tax bill?
- If so, do you want to pay it for your beneficiaries?
- Who do you want to trust to manage your money once you’re gone? (executor, trustee)
- Should it be a relative or an uninterested professional?(corporate trustee)
- What assets do you expect to be liquidated upon your death, and which do you want to ensure don’t have to be liquidated?
- Think about businesses, farms, real estate and other valuables Are there certain assets you want to make sure go to certain loved ones?
- Are there causes you want to support with some of your assets?
- Are there other goals that can be funded upon your death?
- College for kids, grandkids
- Paying off debts
