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Estate Planning Checklist

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This presentation talks about the legal documents that comprise an over all estate plan in Connecticut. – PowerPoint PPT presentation

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Title: Estate Planning Checklist


1
ESTATE PLANNING CHECKLIST
2
Everyone is going to pass away someday, but in
spite of this most people don't have a
comprehensive estate plan
3
There are certain estate planning documents that
everyone should have in place
4
In this presentation we will look at these legal
devices
5
Last Will
When you think about estate planning documents
the last will or last will and testament will
probably come to mind
6
You can state your wishes regarding the
distribution of your assets after you pass away
with a last will
7
An executor or executrix should be named in the
will
8
This is the individual who will handle the
administration of the estate
9
Probate
When you are planning your estate you should
understand a little bit about the process of
probate
10
The administration of the estate is supervised by
the probate court when you use a last will to
arrange for asset transfers
11
Probate provides certain protections, but it is
sometimes avoided because it is time-consuming
and potentially costly
12
Living Trusts Enable Probate Avoidance
Revocable living trusts are often utilized by
people who would like to avoid probate
13
You as the grantor retain control of the assets
while you are living
14
After you pass away your trustee distributes the
assets to the beneficiaries in accordance with
your wishes
15
These distributions are not subject to the
probate process
16
Advance Directives for Health Care
One type of advance directive is the living will
17
With this type of will you state your choices
regarding the use of life support measures
18
Another directive that is widely recommended is
the durable medical power of attorney
19
With this directive you name someone who would
be empowered to make medical decisions in your
behalf in the event of your incapacitation
20
Financial Decision Makers
During the latter stages of your life you may
become unable to make sound financial decisions
21
You can account for this possibility by executing
a durable financial power of attorney
22
With this device you select an agent who would
be empowered to handle your financial affairs if
you become unable to handle them yourself due to
incapacitation
23
Final Arrangements
You can include an authorization for final
disposition when you are planning your estate
24
With this instrument you name someone who will
handle your final arrangements
25
If you choose to do so you can also include
instructions for the representative to follow
26
Free Hartford Estate Planning Consultation
27
After viewing this presentation you may want to
go a step further and discuss everything with a
licensed attorney
28
If you reside in the greater Hartford area we
invite you to contact our firm to schedule a FREE
CONSULTATION
29
  • Nirenstein Horowitz
  • (860) 548-1000
  • www.preserveyourestate.net
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