No matter your age or health, it’s important to have your will and other estate plans in order. If it’s been a while since you reviewed your plans—or if you haven’t yet created a will—use the following checklist to take stock of your situation.
- An up-to-date will. You’ll need to update this document after major life changes, such as births, deaths and moves to different states, or tax law updates.
- Other important documents. Are your banking and credit card information, trust documents, insurance policies, and other important records organized? Does someone like an attorney or friend know where they are and how to access them?
- Tangible property including jewelry, art and other collectibles. To keep track of your property, create a list on your computer or make a videotape inventory.
- Charitable giving through your estate. If you include a charity like ours in your plans, you can keep your assets for life while helping us provide beneficial services to others thereafter.
- A health care power of attorney and a durable power of attorney. Have you named a trusted person to make health decisions for you and another (could be the same person) to make financial decisions for you if you are no longer able to make those decisions yourself?
- Final wishes or funeral arrangements. It’s a good idea to communicate your wishes to your family. Being aware of this information now will make the time when you pass away less stressful.
Now, if you feel that your estate plan needs a boost, set up a meeting with an estate planning attorney today. While updating your plans, we hope you’ll remember Lewis & Clark. Please contact Sharon Bosserman-Benson at (503) 768-7911 or
sharon@lclark.edu with any questions.
Copyright © The Stelter Company, All rights reserved.
The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.
