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ESTATE PLANNING OVERVIEW FOR THE GENERAL PRACTITIONER JANUARY 2015 PRESENTED BY: TBA ESTATE PLANNING AND PROBATE SECTION SPEAKERS: Victoria B. Tillman Angelia M. Angstrom ESTATE PLANNING OVERVIEW

How to fill out estate planning overview for

How to fill out an estate planning overview:

1. Start by gathering all relevant documents and information related to your assets, such as property deeds, investment accounts, life insurance policies, and retirement accounts.
2. Consider your goals and objectives for your estate plan. This may include determining how you want your assets to be distributed among your beneficiaries, appointing guardians for minor children, and planning for healthcare decisions in case of incapacity.
3. Include a list of all beneficiaries and their contact information. Ensure that you have clearly identified who should inherit specific assets or properties.
4. Review and update beneficiary designations on your life insurance policies, retirement accounts, and other financial products to ensure they align with your overall estate plan.
5. Consider if you need to establish any trusts to manage your assets during your lifetime or to provide for your loved ones after your passing. Seek legal advice if necessary.
6. Appoint an executor or personal representative to carry out the instructions laid out in your estate plan. Make sure to provide their name, contact information, and any alternate choices.
7. Take into account any specific concerns or special circumstances, such as blended families, pets, charitable donations, or individuals with special needs, and make provisions for them in your estate plan.
8. Review and update your estate plan regularly, especially after major life events such as marriage, divorce, birth/adoption of children, or significant changes in your financial situation.
9. Consult with an estate planning attorney or financial advisor to ensure that your estate plan is comprehensive, legally valid, and meets your specific needs and objectives.

Who needs an estate planning overview:

1. Individuals who own significant assets, including real estate, investments, businesses, or valuable personal property.
2. Adults with dependents, especially minor children or individuals with special needs, who require guardianship arrangements and financial support.
3. Individuals who want to have control over how their assets are distributed and who want to minimize potential conflicts among beneficiaries.
4. People who want to make provisions for their own healthcare decisions in case of incapacity.
5. Retirees who want to ensure a comfortable and secure future for themselves and their loved ones.
6. Individuals with specific concerns or special circumstances, such as blended families, charitable intentions, or unique estate planning goals.

Remember, estate planning is a highly individualized process, and it is always advisable to consult with professional legal or financial advisors to ensure your estate plan aligns with your specific needs and objectives.

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What is estate planning overview for?

The estate planning overview is a document that outlines an individual's estate planning goals and strategies.

Who is required to file estate planning overview for?

Individuals who have estates that meet certain value thresholds may be required to file an estate planning overview.

How to fill out estate planning overview for?

To fill out an estate planning overview, individuals should gather information about their assets, liabilities, and estate planning goals.

What is the purpose of estate planning overview for?

The purpose of an estate planning overview is to help individuals identify and achieve their estate planning goals.

What information must be reported on estate planning overview for?

Information that must be reported on an estate planning overview may include assets, liabilities, beneficiaries, and distribution plans.