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10 Estate Planning Questions to Consider Before Year-End

Lucere Legal helps families do annual estate plan reviews

If you have not revisited your estate plan yet this year, consider these 10 questions and then schedule a meeting with your estate planning lawyer:

1.  Does your estate plan need be changed because of new laws?  Or new assets?  Or changes in your life?

2.  Is information about your assets centrally located so that if anything happens to you, your family knows exactly how to access everything you own right now?

3.  If you have a family LLC or family limited partnership, has it been properly maintained to comply with tax laws?

4.  If you have made gifts to family or friends, have you exceeded your exemption limit for the year?

5.  Are you maximizing your opportunities for this year’s income tax deductions?

6.  Are your choices for executor, trustee or beneficiaries still right for you?

7.  Are you using the best strategies for year-end charitable gifting?

8.  If you donate cash to a charity from an IRA, are those being made correctly?

9.  Could you use a trust to protect assets?

10.   Have you thought about managing capital gains and timing long-term losses?

If you would like more information about creating or updating your estate plan, call our office at (612) 206-3701 or fill out our contact form today to schedule a time for us to sit down and talk.

Image courtesy of Salvatore Vuono / FreeDigitalPhotos.net

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