Fundamental Estate Planning Questions and Achievements to date

  • Have your wills and/or trust documents been updated since 2012 (when the enactment of most recent changes to estate taxes and portability of lifetime exemptions took place)?
YES                       NO
  • If a Revocable (Living) Trust is in place, have title and ownership of assets been transferred to the Trust?
YES                       NO
  • If a Partnership or LLC has been established, have title and ownership of assets been transferred to the LP/LLC?
YES                       NO
  • Are you currently utilizing 100% of your available annual gift exemptions to children and grandchildren to reduce the size/growth of your taxable estate?
YES                       NO
  • Have you accelerated all or part of your lifetime exemption to achieve strategic wealth transfer         objectives?
YES                       NO
  • If yes to the prior question, did you use intra-family leverage against the use of your lifetime exemption to increase and accelerate wealth transfer?
YES                       NO
  • Will the planning you have accomplished to date empower multi-generational stewardship, maximizing the impact of your wealth by preserving a lasting family and charitable legacy for generations to come?
YES                       NO 
  • Do you presently own life insurance (whether owned in a trust, LLC, or Partnership) for the express purpose of paying estate taxes?
YES                 NO
  • If insurance is owned by an ILIT (Irrevocable Life Insurance Trust), have annual gifts been properly administered?
YES                       NO

  • If insurance utilized is permanent (builds cash value) in nature, have Premium Finance Strategies been evaluated or implemented as part of the funding mechanism?
YES                       NO

  • Is the planning team you have relied upon to this point (tax, legal, financial, insurance) up to the task of helping you finish the job of seeing that your tax, wealth transfer, and charitable objectives are achieved?
YES                       NO

HIGHEST PRIORITY ACTION ITEMS REGARDING YOUR FAMILY’S PLANNING:



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