While these range from person to person and are far more subjective than the preceding questions, there are a number of important points to consider.

Liabilities other than home or property mortgages (as listed above)Įstate Planning Objectives: Checklists and Sample Documents.

Trusts, expected inheritances, and any other assets of value.Business interests or major shareholder positions in companies, as well as limited partnerships.Any other insurance that may have financial or tax results for either client or spouse.Life insurance and listed beneficiaries, as well as the value of the policy.Financial accounts: investment accounts, stocks, bonds, cash savings, checking and savings accounts, money market accounts, CD’s, Treasury notes, pensions, IRAs, Roth IRAs, SEP IRAs, and any other tax-favored plan.Expensive belongings, such as antiques, furniture, jewelry, works of art, collections, gold, etc.Real estate assets, homes, vacation homes, land, property without a dwelling, etc., as well as the mortgage balance if such remains.Medical history regarding serious health issues that could be imminentįinancial Assets: Checklists and Sample Documents.Children’s names and addresses, including which ones may be the offspring of only the client’s spouse (all biological children, step-children, adopted children, etc., must be included with birth dates).Citizenship status in the United States and/or other countries.

Client’s names and addresses, as well as their spouse (and any ex-spouses that may be included in alimony payments or the estate planning).

The Estate Planning Checklists and Sample Documents Personal/Family Information: Checklists and Sample Documents That said, it is also vital that attorneys get a sense from their clients as to what the answers to these questions of asset allocation might be from the very start. Issues like who receives their assets, at what rate, how they can be utilized, and the tax implications are all necessary issues to tackle with an experienced estate planning attorney, using checklists and sample documents to have the process explained as simply as possible. Financial resources must be taken into account when folks enter their twilight years.

There are few tasks more important than estate planning for the elderly and those with significant assets to their name.

Estate planning assets checklist