Estate Planning Checklist

1. Do you have a will? ____ If not, you should have a will prepared.

1. When was the last time you actually read it? ______________. If you have not read it in some time, you should do so to verify it accurately sets forth your current wishes.

2. When was the last time the will was reviewed by an attorney?_______. If more than five years, it should be reviewed by an attorney even though changes may not be necessary.

3. Have there been any significant changes in your family or financial circumstances since your will was prepared or last reviewed/updated? _____ If either has occurred, it should be reviewed by you and your attorney.

2. Do you have a current financial power of attorney? ________ If more than five years old, it should be reviewed and updated. Financial institutions may not accept a financial power that is more than five years old although still valid under Arizona law.

1. Is/are the persons named in the power who you currently want to handle your financial affairs? ______. If not, the power should be revised and updated.

2. Was the power of attorney prepared by an attorney?____

3. Is the power of attorney a form you located from an office supply company or other source? _____. If so, it should be reviewed by an attorney. Many forms are inadequate or invalid under Arizona law.

3. Do you have a current health/medical power of attorney? _____

1. Is/are the persons named in the power who you currently want to make medical decisions for you if you are unable to make your own medical decisions? ______. If not, the power should be revised and updated.

2. Does the power authorize your agent(s) to receive information from your health care providers? (HIPAA release authorization)

4. Do you have a current living will which expresses your wishes about medical care and treatment should you have a terminal illness, be in an irreversible coma or be in a persistent vegetative state? ________

1. When was the last time you reviewed it? _________

2. Does it accurately reflect your current wishes? _______

5. Do you currently have a trust? ________. If not, you should consult with an attorney whether a trust is appropriate for you. Trusts are not necessary/desirable for all persons but it is impossible to be certain except after consultation with an attorney.

1. If you have a trust, when was it last reviewed or updated? _______

2. If the last review or update was more than five years ago, a review is appropriate and update may be necessary as there have been many changes in the trust statutes in Arizona and the federal estate tax statutes in the last five years.

3. If you have a trust which requires division of the trust assets into separate trusts at death, review and/or updating is appropriate. Changes in federal estate tax laws effective in 2013 increase federal estate tax exemption to over $5,000,000.

6. Have you prearranged your funeral/burial? ______ If you have not you may wish to do so. Your family will not have to deal with these details when the time comes.

7. Have you prepared and have a current list of your assets or do you have some other organized file structure that will enable the appropriate person to have a complete list of all your assets and insurance policies?_________. This can be extremely helpful to the person or persons who are responsible for administering your estate.

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