Have you created your Estate Plan? Have all of your Estate Planning goals been met? The following checklist of objectives is designed to help you create or update your Estate Plan. Your Estate Plan can be designed to:
- Avoid estate taxes.
- Avoid probate costs.
- Provide for children by a prior marriage.
- Provide for a beneficiary with special needs due to disability or talent.
- Assure that an heir receives a limited share or nothing.
- Make gifts to charity.
- Establish a gifting program to your heirs during your lifetime.
- Protect your beneficiaries from wasting their inheritance by distributing it to them over time.
- Provide for your spouse with a source of income for the spouse’s lifetime if you die first.
- Provide guardians for your minor children.
- Avoid family quarrels over what you decide to do in your estate plan.
- Plan for long-term care and/or disability.
This list is not exhaustive, but it is meant to stimulate your thoughts on how your Estate Plan can be drafted to meet your own particular needs. Attorney Andrea C. Kryszak would be pleased to help you create or update your current Estate Plan, customized to your wishes so that all of your goals are accomplished. She can be reached at 440-934-5330 or 1-888-934-5330.
This information is provided as general information only and is not intended as legal advice. Competent legal counsel should be consulted about your particular situation.