Plan Your Estate Now, Before it is Too Late

Although we would all like to believe that we will live into our hundreds, planning your estate sooner rather than later can ensure reduced estate taxes, and is vital to securing your family’s future. Basic estate planning provides protection and comfort that your assets, no matter how small, are distributed the way you want them to be.

Estate Planning Checklist

When you begin to plan your estate, you will have to address many different topics that include but are not limited to:

  • Do you have a will? Is it up to date?
  • What does your family situation look like? Do you have minor children? Is this a second marriage?
  • Should you set up a revocable trust to prevent your assets from going through probate?
  • Do you need to start giving gifts to your beneficiaries to make sure you are under the lifetime exclusion limit and reduce your estate taxes?
  • Do any changes in tax law change your current estate planning techniques? (Major changes occurred in 2011 which may require you to update your estate plan.)
  • Are there any new developments that will allow you to do more with your assets?
  • What do you want to accomplish by planning your estate, and who do you want to give your assets to?

As you can see, planning your estate is not a quick and simple task, and many questions will arise that you may need clarification on. Contact an Anders advisor for answers to all of your questions and help planning your estate in conjunction with your attorney and other advisors.