getting started. what is estate planning? basic steps in estate planning what can a plan do for you?...
Post on 19-Dec-2015
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TRANSCRIPT
Getting Started
• What is estate planning?
• Basic steps in estate planning• What can a plan do for you?
• What your attorney should know• Property ownership
Basic Steps in Estate Planning
Initiate the discussion Take inventory and evaluate the
present Develop objectives Choose professional advisers and
discuss objectives Consider alternatives and implement
the plan Review and modify
What Are Your Objectives?
Examples: Provide security for surviving spouse Retire at age ____ Name guardians, conservators or trustees
for minor children Transfer specific property to specific
people Provide charitable bequests Other
What Your Attorney Should Know
Personal information Property information Assets Insurance Accounts receivable Liabilities Retirement plans Location of important papers
Property Ownership
Fee simple absolute Life estates and remainder interests Sole ownership Co-ownership