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Estate planning is not just for the ultra wealthy. There may be several reasons for you to begin developing an estate plan immediately. Use the checklist below to assess your needs for an estate plan.
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Does the combined value of your estate and the gifts you have given throughout your lifetime exceed your remaining applicable exemption amount? |
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Do you care about who receives your assets? |
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Do you wish to maximize the value of your estate? |
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Do you wish to minimize the taxes owed on your estate as well as the burden upon your heirs for paying them? |
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Do you care who the guardian will be of your children or grandchildren? |
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Do you wish for your business to continue after your death? |
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Do you want your heirs to receive their assets in a controlled manner and when they are mature enough? |
If you answered "yes" to any of the questions above, then you probably should begin developing an estate plan as soon as possible. To learn more about estate planning and who and what is involved, visit the Estate Planning Concepts section.
The concepts contained herein are not intended to serve as advice and may have legal, tax and accounting implications. Consult your Attorney and CPA for advice.
CWEB-L-174
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