Check Your List Twice!

If you are contemplating getting started on your estate plan, the holidays are a wonderful opportunity to take some time to talk to family and friends about the future. Unsure where to begin with talking points? Below is a short and sweet checklist of items to consider to set a foundation for your estate plan:

• Beneficiaries: Who will get your assets when you pass away? Friends, family, charities?

• Specific Gifts: Do you have any special items such as family heirlooms or jewelry that you would like certain individuals to receive after you pass away? Are their any items your family and friends would like to have?

• Trustee: If you have young children or if you wish to distribute assets over time after your death, who will manage assets on behalf of your beneficiaries?

• Executor: Who do you trust to distribute your assets as you have spelled out in your will?

• Financial Representative (POA): Who should make decisions regarding your finances and other personal business if you become incapacitated? This includes your day-to-day tasks such as paying bills, cashing checks, and filing tax returns.

• Health Care Representative (POA): Who should make medical decisions on your behalf if you become incapacitated? Do you have a backup in mind?

• Living Will: If you are in a terminal state as determined by a physician and unable to make decisions on your own, would you like to receive life-prolonging care, or would you prefer to receive comfort care only?

Best wishes for a safe and happy holiday season!