When the calendar turns to a new year, it’s safe to assume you’re faced with a variety of questions as well as a few challenges. Sweeping these under the rug – especially if they pertain to estate planning – is a mistake you don’t want to make.
It’s best to tackle estate planning questions head on, as doing so will give you a clear idea of where things currently stand and what you need to change to feel good about the months to come.
Here are some of the many estate planning questions you may need to answer in 2020:
- When was the last time you conducted a thorough review of your estate plan?
- Did you add any valuable assets to your estate in 2019 that require detailed attention in the year to come?
- Are you still comfortable with the person you named as the guardian of your minor children?
- Do you need to make any adjustments to your power of attorney?
- Could 2020 be the year that you create a trust?
- Are you familiar with estate taxes and the impact it could have upon your death?
- Have you taken any steps to help your estate avoid probate, which will benefit your loved ones upon your passing?
- Do your estate plan and retirement plan go together hand in hand?
- Do you have to make any key decisions in regards to special needs planning?
- When was the last time you thought about incapacity planning and long term care planning?
Just because you have these estate planning questions doesn’t mean you know how to answer them. You may find it difficult to answer each one in an efficient manner, as you don’t have the knowledge necessary to make informed decisions.
If you have questions or concerns, contact us for more information and guidance. Also, sign up to attend one of our free seminars. During these events, we touch on a variety of estate planning topics, many of which will help you answer the questions above.
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